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Following Pepe Coin (PEPE)’s 40% price surge on Tuesday, profit-taking holders are moving funds into a new cryptocurrency token with 100x growth potential.
PEPE’s sudden rally to its highest levels since last May occurred after it broke through key resistance at $0.00000188.
Trading just above $0.0000026, PEPE’s market capitalization stood at approximately $1.1 billion.
PEPE may soon recover to record highs in the $0.0000045 range, representing a 70% increase from current levels.
However, with Pepe re-establishing itself as a billion-dollar meme coin, its upside potential is increasingly constrained.
This is the perspective held by many meme coin investors seeking 100x returns.
To achieve 100x gains, investors typically target smaller, lesser-known coins with low market capitalizations.
One such token that analysts believe could deliver 100x gains is a newly launched meme coin called Frogwifhat ($FWIF).
Here is why Pepe holders are shifting their capital to this new cryptocurrency.
Why Pepe Holders Are Shifting Funds to New Crypto Frogwifhat ($FWIF)
A newly launched meme coin called Frogwifhat (FWIF) could be the next meme coin to achieve a 100x increase.
The token launched on Uniswap on Monday and reached a market capitalization of $4 million within a few hours.
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Investors now have the opportunity to buy the dip, as the token has pulled back to a price of approximately $0.0018 and a market cap of around $800,000.
A review of the frogwifhattoken.com website indicates that the coin is designed to replicate the success of Dogwifcoin, Bonk, and Smog. Rumors suggest the founders may be the same individuals behind those previous meme coin successes.
Prospective buyers should conduct their own research, but there are several positive aspects to the coin.
First, over $3,230k in liquidity has been locked. This is a critical factor for coins listed on decentralized exchanges (DEXs).
Locked liquidity significantly reduces the risk of a rug pull, where the project team withdraws the funds provided by token holders.
Frogwifhat was also fairly launched, meaning all 1 billion tokens were immediately available on the open market.
The absence of token allocations for the development team or marketing purposes minimizes the risk of a token dump.
Frogwifhat aims to follow the trend of other coins featuring animals wearing hats, but this time it features a Frog Wif a Beret, with the beret being a staple of French culture.
Check out Frogwifhat on DEXTools Here
How to Buy FWIF?
Users interested in investing in Frogwifhat can find it on Uniswap.
To purchase, users need to connect their web3 wallet (via Ethereum) and hold some ETH.
ETH can be purchased on any major cryptocurrency exchange, and setting up a web3 wallet (such as MetaMask) is free.
The post Pepe Holders Rotate Profits Into New Meme Coin Frogwifhat ($FWIF) for 100x Potential appeared first on Cryptonews.
