While most of the market has been trading in green this week, Pepe is an exception. The meme coin has lost 14.39% over the last seven days in contrast to the broader market.
The euphoria that enveloped the market with Ripple’s landmark victory over the SEC has failed to translate into gains for Pepe, which is deemed as good as dead at this point.
Evil Pepe, on the other hand, is drawing onto Pepe’s long-lost glory with a meteoric presale. As investors leave Pepe for greener patches, Evil Pepe is seizing media and social media attention.
Pepe is Past its Prime
To understand Pepe’s deteriorating market relevance, we should first look into the meme coin market as a whole. We know that meme coins are wildly popular and have rarely had a dull moment.
But when it comes to individual meme coins, that’s not the case. Even meme coins that have miraculously turned investors into crypto millionaires overnight fade into obscurity within a short space of time. They are not ideal long-term investments, except for established meme coins like Dogecoin and Shiba Inu. These coins too have lost a major share of their value over the last two years.
The truth is, the individual performance of meme coins doesn’t meet the extravagant hype surrounding them. It is important to maintain a dynamic meme coin portfolio, as a result.
A good strategy is to find meme coins when they are just poking their heads. But community support and social momentum are indispensable in that case too. This is because most meme coins lack inherent value and instead rely heavily on speculative fervor and hype.
Pepe seven-day price overview, CoinMarketCap
It is unrealistic to expect substantial long-term growth in these coins. Pepe is not spared from the trend, either. Given that Pepe has failed to make positive movements during the broader market bull cycle, it can be assumed that it is out of steam.
It is time for Pepe investors to dump their tokens for new meme coins, unless they are satisfied with ROIs in one to two digits. Well-established meme coins like Pepe, Doge, and Shiba have already matured and will struggle to expand their market caps in the coming days.
Investors are Diversifying into Evil Pepe
New meme coins like Evil Pepe have two strong competitive advantages.
- Low price: Being in the presale stage, Evil Pepe is still selling for a discounted price. That allows investors to get a low entry point into the project.
- Large room for growth: New cryptocurrencies benefit from low market caps. The bigger the market cap, the smaller the width for expansion. When compared to Pepe’s $589M market cap, Evil Pepe has a substantially low initial market cap.
But Evil Pepe’s initial market cap is set lower than most projects to give high upside potential to early investors. The total presale target is $1,996,002.
The presale will be live for just fourteen days from the launch. But it is unlikely it will last that long, given the massive hype building around the coin. At the time of writing, the amount raised stands at $186,661.09. One $EVILPEPE is selling for just $0.000333 now.
The low initial market cap has catalyzed the presale
To give you a better perspective, in the event the market cap touches 100M, investors are looking at around 50X returns. 100M is an easy target for a wildly creative project like Evil Pepe. The project’s theme and content are designed to suit the taste of the meme coin community.
“We all need a bit of an evil side to succeed in the meme coin game. Now embrace what your evil voice is telling you and buy Pepe Coin – the Evil version – in presale before DEX pump.”
While a person new to the meme coin market will gape in bewilderment at this blatant copy, meme coin investors know better. The crazier the theme and content, the bigger the meme coin mania.
Still have 12 days left, but approaching 200k raised for #Presale #Evilpepe is looking forward to seeing you in our grasp. Join the sinister fun on our official Telegram at https://t.co/38fXn8r38y#Presalelive #Presale #EvilPepe #Ethereum #Memecoin #Pepe #PEPE2 #PEPEARMY pic.twitter.com/TPPfuh8jEP
— Evil Pepe (@evilpepe_token) July 21, 2023
Judging by these factors, Evil Pepe is an obvious alternative to Pepe this month.
Wall Street Memes Has Raised $16M Out of its $30M Target
Wall Street Memes is another meme coin to seize the attention of the meme coin community in July. The meme coin is launched by the meme community of the same name.
Here are the key factors that have helped the project win massive social media sentiments.
- The Wall Street Memes community has been in existence much before the meme coin announcement. It has more than 1M followers from around the world.
- Investors, traders, and business leaders including Elon Musk are not strangers to the community’s posts.
- The community sold out its NFT collection Wall St. Bulls in half an hour.
If you’re looking for a meme coin that challenges the existing norms, WSM is a good choice.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
