As PEPE100 Leaps 50x Overnight, This Hidden Crypto Just Surpassed $1.8 Million in Funding – 100x Possible?
PEPE100 (PEPE100x) has gained by as much as 50% overnight, with the new meme token reaching a record high of $0.00386 several hours ago.
This makes it the latest in a seemingly endless string of new meme coins to enjoy big opening rallies on Uniswap this year, yet it seems that PEPE100’s time is already up.
Indeed, it has actually dropped by around 84% since posting its record high, with the plunge looking like a good old fashioned dump.
However, while the coin does seem prematurely finished, there are other new altcoins in the market that offer genuine fundamentals, with Bitcoin ETF Token’s increasingly successful presale suggesting that it could rally big soon.
PEPE100’s chart really does provide a textbook example of how a picture can be worth a thousand words, with the red candle on the right-hand side of the chart indicating that the coin is about to die as quickly as it was born.
The above pattern – a steep rise followed by flatlining and then a steep drop – is the classic pump-and-dump chart shape, with there likely being 0% chance of the coin making a recovery.
Indeed, with only 304 holders (as of writing) and a daily volume of approx. $15,330, it’s pretty clear that PEPE100’s sole function was to extract wealth from the unfortunate traders who thought they could somehow beat the coin’s issuer(s).
Well, most have likely failed in such an endeavor, yet they have at least provided a salutary lesson in which tokens not to buy if a trader wants a decent chance of making a profit.
Instead, investors should look to new alts with some kind of use case or fundamental underpinning, which provide users and traders with a reason for buying it and continuing to buy it.
Such coins may be few and far between in a sea of new junk
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