The creators of the PEPE token took inspiration from the famous “Pepe the Frog” meme. Like other meme cryptocurrencies, it has no fundamental value and only increases in value due to interest from community members. So, can investors become millionaires by investing in PEPE?
In a short time, the asset became one of the most discussed meme coins, generating good profits for early investors. PEPE is currently trading 81.73% below its all-time high reached on May 5, 2023.
PEPE Accumulation During Bear Market?
A large-scale market crash often causes newcomers to panic and hastily sell their assets.
However, experienced traders see these events as an opportunity to form a reliable medium or long-term portfolio and buy the cryptocurrencies they are interested in at a discount.
We find out how much you need to invest in PEPE now to become a millionaire during the next bull rally.
Brief History of PEPE
The PEPE token is inspired by the famous “Pepe the Frog” meme, which first appeared in 2005 in Matt Fury’s Boys Club comic and subsequently became a symbol of support for former US President Donald Trump. According to the project’s official website, the total supply of PEPE is 420,690,000,000,00,000 tokens.
Read more: 11 Hot Meme Coins and Altcoins that Trend in 2023
The asset is ranked 108th among the most capitalized cryptocurrencies, with a market cap of $312.1 million.
Despite skepticism from some market participants, PEPE has a fairly high chance of survival: the token supports an impressive community, and trading volumes on major cryptocurrency exchanges remain fairly stable.
Read more: The Comprehensive Guide to Web3 Community Management
If the meme cryptocurrency attracts the attention of investors, it could join the few ranks of meme coins that have held a solid place in the cryptocurrency landscape.
How Many PEPE Tokens Do You Need to Buy to Become a Millionaire?
To calculate the amount of PEPE you need to buy to become a millionaire when the price returns to its all-time high of $0.00000431, you can use the following formula:
- PEPE amount = Target amount / Expected future price,
- Where :
- Target amount: $1 million
- The expected future price is its all-time high of $0.00000431.
Therefore, to see a round amount of $1 million in the account, you would have to buy 232,019,487,536 PEPE. At the current price of $0.000000788334, the value of the coins would be around $182,396.
However, investors should remember that the cryptocurrency market can be extremely volatile and subject to the influence of “black swans.” The above calculations are based solely on current data and assumptions.
Always remember to follow risk and money management and only trade with money you can afford to lose.
Read More: 9 Best AI Crypto Trading Bots to Maximize Your Profits
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