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- Pepe coin has garnered continuous attention on Twitter.
- WOJAK’s value surged approximately 130% within a single day.
Cryptocurrencies have increasingly become mainstream and are recognized as a valid asset class. Nonetheless, the rise of memecoins represents a relatively recent trend that has attracted considerable interest in the cryptocurrency sector.
Memecoin Capturing Investor Interest
Memecoins are a category of cryptocurrency often inspired by memes or internet culture. Pepe (PEPE) is a newer memecoin that has captured significant attention in recent weeks due to its substantial price increase. Launched in March 2021, it is based on the well-known “Pepe the Frog” meme. Despite initial doubts, the coin has seen a remarkable rise in value, with its price escalating by over 3000% in just a few days.
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Pepe (PEPE) Price Chart (Source: Coingecko)
As of the latest update, PEPE was trading at $0.00000104, with a 24-hour trading volume exceeding $339 million, reflecting an increase of about 180%. Additionally, the price of Pepe coin surged 87% in a single day, resulting in a market capitalization of $444 million.
Wojak is another emerging memecoin that has also drawn investor interest recently, similar to PEPE. Wojak (WOJAK) is based on a well-known internet meme, specifically the “Feels Guy” or “Wojak” meme. Moreover, the coin has experienced a significant price increase, with its value rising by over 1,000% in just a few days.
Wojak (WOJAK) Price Chart (Source: Coingecko)
According to Coingecko, WOJAK was trading at $0.00030140, with a 24-hour trading volume of $48 million. Furthermore, Wojak’s price increased approximately 130% in the past 24 hours.
The rapid increase in the value of these memecoins has attracted both investors and critics. Some investors are enticed by the possibility of high returns, while others express skepticism regarding the authenticity of these coins and are concerned about the risks involved in investing in them.
