The price of Pepe Coin (PEPE) has experienced a 6% loss in 24 hours and a 27% decline in a fortnight. Despite this, it remains up by 550% in the last 30 days and over 2,700% since April 18, easily making it one of the most successful new wave meme tokens. A major catalyst for this growth has been a series of exchange listings, with PEPE now on Binance, Huobi, Gate.io, and OKX. These listings have helped to maintain the token’s momentum, with more exchanges likely to list PEPE in the coming weeks.
However, there is an inherent reliance on new exchange listings to boost the token’s value. This reliance may be indicative that PEPE has little else going for it and could run out of steam in the not-too-distant future. The fact that PEPE has already gained so much traction does suggest that it has real staying power, similar to Dogecoin and Shiba Inu, meme tokens that have started to gain some degree of utility through various functions.
While PEPE could potentially see a resurgence in price, traders looking for newer meme tokens with untapped growth potential may want to consider alternatives such as SpongeBob (SPONGE) and Copium (COPIUM). SpongeBob is an Ethereum-based meme token that has enjoyed gains of over 1,000% since listing directly on Uniswap on May 4. New exchange listings in recent days, including Gate.io, Poloniex, and MEXC, among others, have helped boost SPONGE’s performance.
Copium, on the other hand, is another meme token that listed directly on Uniswap on May 18. Featuring a burn mechanism that will ultimately destroy 300 million COPIUM, the token has gained as much as 650% since listing. With no major exchange listings yet, its best rallies are likely ahead of it.
Another newcomer, AiDoge, is an AI-powered meme-generating platform currently holding the presale for its $AI token. Having already raised more than $10.5 million since kicking off near the end of April, the platform is designed to be user-friendly, with simple input fields and voting systems to create and rate memes. Users can earn rewards in $AI if their memes are among the most popular, and $AI can also be utilized for staking.
In a market that is witnessing a rise in meme tokens, the debate between established tokens such as PEPE versus newcomers like SPONGE, COPIUM, and AiDoge is worth considering. While PEPE has achieved significant growth, its reliance on exchange listings may hinder future gains. Conversely, the newer meme tokens have untapped potential for growth, making them attractive investments for traders looking for alternative opportunities in the market.
Source: Cryptonews
