Even Barron's has a Pepe article (paywall). Prolly nothing... https://finance.yahoo.com/news/pepe-token-soars-500m-market-132343618.html PEPE Token Soars to $500M Market Cap as Meme Coin Fever Grips Crypto Traders Oliver Knight Tue, May 2, 2023 at 9:23 AM EDT·1 min read PEPE, the token that sprouted out of the "pepe the frog" meme, has rocketed to a $502 million market cap following a 2,100% rise since it was issued last month. According to Ethereum block explorer etherscan, PEPE has around 75,000 holders with several wallets – excluding centralized exchanges – holding in excess of $5 million worth of the tokens. The PEPE token surged by a 350% over the weekend alone, and derivatives exchange BitMEX on Tuesday said it is listing perpetual swaps for the token, which will allow traders to trade the volatile asset with as much as 50 times leverage. While hype around the meme token continues to build, some early investors have been cashing out. One trader sold $2 million worth of the token using MetaMask swaps. They ended up losing $350,000 as they were hit with 25% slippage due to minimal liquidity. Another trader temporarily tanked the price of PEPE by almost 50% as they cashed out $678,000 worth of the token. PEPE's price action is reminiscent of dogecoin over the years, with intense volatility being caused by an absence of liquidity or sustainable demand. The price of dogecoin dramatically fell on numerous occasions when hype began to subside. In this case, PEPE could face sell pressure when derivative markets go live as traders attempt to capitalize on a trend that has historically ebbed and flowed.
Bull, Bear, Whale, Unicorn,.. Dog -> Cat -> Frog, etc Just need this repurposed to a family tree of memecoins https://www.onezoom.org/ Sitting this one out, crypto FOMO has been effectively neutered (prayers have been answered or discipline gained, either/or)
When I did my sector analysis at the beginning of last year, I did not include meme. It is the most stupid sector of the cryptos universe But.... EllioTrades has talked about meme as a powerful community, even more than NFT's. Then I saw a youtube video I think it was Scott Melker with a guest (Scott hates Pepe, btw) and the guest said that Doge has outperformed Bitcoin on every bull/bear market cycle, by a lot Meme coins are the hottest trend right now in cryptos... At some point, the funds will move to other cryptos sector, but there is a saying... the trend is your friend I fumbled a gain on Bob to a small loss, same with Genslr, got dumped on Turbo yesterday by the scammer influencers, lol... small losses, total of all the losses on all of those combined around $3k But Pepe has more than made up for all those small losses I moved from Turbo to Mong and put all to liquidity pool Uni v3 and already made up the losses on Turbo with Mong and it's only been about 16 hours, and the yield is crazy, there's no boost token emissions, this is from pure trading volume fees I wish I could write an MEV bot like jaredfromsubway.eth making millions off sandwich trades with meme coins, but for now, happy to yield farm Mong and Pepe as my form of rewards harvesting from the meme trading volumes
If there is a will, there's a way. I'm currently dusting off my dev hat and learning python. Thanks for the reminder for adding on solidity MEV bots skillz. $turbo https://app.bubblemaps.io/eth/
CRYPTOCURRENCIES Dogecoin and Shiba Inu Fans Beware. ‘Crypto Degenerates’ Have a Hot New Memecoin. By Jack Denton May 3, 2023 6:47 am ET Dogecoin is the largest of the memecoins, based more on memes than serious blockchain projects. Dreamstime Memecoins—cryptocurrencies such as Dogecoin DOGEUSD –0.31% and Shiba InuSHIBUSD –0.30% that are based, largely, on internet jokes—have long represented some of the frothiest corners of the digital asset market. And there’s a hot new name on the block. It’s Pepe, a token that references the Pepe the Frog meme—which has a checkered cultural reputation. The Anti-Defamation League (ADL) has named the Pepe the Frog meme a hate symbol, while noting that the character did not initially have racist connotations and that many uses of the meme continue to be non-bigoted. Launched last month, Pepe has taken the market for smaller cryptocurrencies by storm, especially on the back of its listing on the crypto exchange OKX—the world’s sixth-largest by volume—on Monday. Pepe recorded some $20 million of volume on OKX in its first hour of trading, according to analysis by a team led by Clara Medalie, the head of research at crypto data provider Kaiko. Pepe’s market cap briefly topped $500 million—still 25 times smaller than that of Dogecoin, the biggest memecoin—with volumes also surging on the decentralized exchange Uniswap. While its market value remains far behind that of Dogecoin and Shiba Inu, the frog token is closing in on these two dog-themed coins quickly, especially as it looks like early traders may be taking profit amid the boom. Pepe has had trading volumes near $213 million over the past 24 hours, according to data provider CoinGecko, compared with $268 million for Dogecoin and just $102 million for Shiba Inu. Meanwhile, Pepe prices have sunk 15% over the past day, though they remain up 150% since April 30, before the coin was listed on OKX. “Pepe has captured the imagination of ‘degens,’ those crypto degenerates who love high high-risk, speculative crypto bets,” Antoni Trenchev, co-founder and managing partner at crypto lender Nexo, wrote in a note last month, shortly after Pepe’s launch. “Pepe is a reminder that vast riches can be accrued at breakneck speed in crypto, but what the crypto market giveth can—and likely will—be taken away in a blink of an eye.” For mainstream investors, Pepe’s rise may be little more than further evidence of cryptos’ lack of seriousness—that, despite convictions of BitcoinBTCUSD –0.32% ’s potential as a decentralized currency, crypto continues to attract traders more focused on memes than meaning. But there may be a bigger takeaway: That the surge in Pepe represents the most extreme expression of improving risk-on sentiment among investors. Cryptos have led risk assets higher this year, with Bitcoin soaring some 70% amid expectations that the Federal Reserve will soon pivot from tough monetary policy, helping digital assets outperform the Dow Jones Industrial AverageDJIA –0.86% and S&P 500SPX –0.72% . Pepe may be another sign of this shift in the crypto market, where traders are hoping for an end to the bear market and “crypto winter” that has gripped digital assets for more than a year. It could also be a warning that a new bubble is forming. “When memecoins pump, it often tells us where we are in the crypto cycle. The one-week 230,000% gains witnessed by Squid [a token referencing the popular Squid Game show] in the Winter of 2021 was a huge warning sign the crypto market was reaching its peak,” Trenchev said. “Time will tell if the emergence of Pepe the Frog heralds the beginning of a new crypto summer or something a lot bleaker.” Write to Jack Denton at jack.denton@barrons.com
MEV bots is a bot eats bot, winner takes all, per a Twitter thread I saw. Jared earns millions but also pays millions in fees and probably is running a very fast Ethereum node or RPC connection, I suspect I think chatgpt can program an MEV bot, but the moat around other things are difficult to overcome against Jared Looks like a chad dev honeypotted Jared
@Sprout a non-floor BAYC was sold below floor to buy Pepe. I think it's good move, but I'm obviously biased
This makes me think of an analogy... Regularly in the Bay Area there are groups of bikers (won't call them gangs because they aren't) who invade and close the Bay bridge to fk around doing wheelies and donuts long enough to evade cops attempting to close accesses and make some arrests, which they rarely do. We're talking 100 or more bikers, mostly from the suburbs, who are connected via apps, pick a date for the next rodeo and move on. These NFT games are the same.