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The sudden surge in the value of these memecoins, PEPE and WOJAK, has captured the attention of both investors. The memecoin dominance season has begun.

Cryptocurrencies have grown in popularity and have become recognized as a viable asset class. On the other hand, the rise of memecoins is a fairly new trend that has gotten a lot of attention in the cryptocurrency community.

Memecoin Gaining Attention: Pepe and Wojak

Memecoins are cryptocurrencies that are frequently based on memes or internet culture. Pepe (PEPE) is a relatively new memecoin that has received a lot of attention recently owing to its enormous price increase.

The coin, which is based on the iconic “Pepe the Frog” meme, was released in March 2021. Despite initial skepticism, the coin’s value has skyrocketed, with its price jumping by over 3000% in just a few days.

PEPE was trading at $0.00000109 at the time of writing, with a 24-hour trading volume of over $340 million. In addition, the Pepe coin price increased 87% in a single day and now has a market valuation of $460 million.

JUST IN: $PEPE entered top 100 on https://t.co/k4aUfne70j after hitting new all time high $0.00000107 pic.twitter.com/pyIXgrq1sn
— CoinGecko (@coingecko) May 1, 2023

Wojak is a new memecoin that has attracted investors in recent weeks, similar to PEPE. Wojak (WOJAK) is based on a well-known online meme, the “Feels Guy” or “Wojak” meme. Furthermore, the coin’s value increased by over 1,000% in just a few days, resulting in a massive price surge.

Wojak traded at $0.00030140 with a 24-hour trading volume of $48 million. In addition, the price of Wojak has increased by almost 130% in the last 24 hours.

PEPE’s market value surge

Pepe (PEPE) has made a big splash in the crypto world in the two weeks since its start. It is now one of the top 100 largest cryptocurrencies. According to CoinGecko, the PEPE token’s market capitalization jumped by a staggering 150% in the last 24 hours and by an amazing 350% over the last week.

Its market capitalization is now worth $465 million, which is a lot of money. PEPE is an ERC-20 token with a supply of 420,69 trillion tokens. It has joined the meme coin trend, which is made up of tokens that are based on internet memes and references to pop culture.

Even though there have been many NFTs and tokens based on Pepe the Frog over the years, the latest PEPE coin has successfully caught the attention of the market and crypto enthusiasts. Pepe’s trading volume has risen to $500 million in the last 24 hours, making it the third-biggest memecoin.

Visit and learn to our guide to the best meme coins to buy here.

This is more than Shiba Inu’s trading volume of $116 million in the same time period. Nansen pointed out that PEPE has done much better than SHIB, saying that it has drawn over 54,000 holders in just two weeks.

Even though PEPE is becoming more well-known, SHIB doesn’t seem to be in danger because it already has more than a million holders. More than 3,350 wallets were found to have both PEPE and SHIB in them, which is interesting because it shows that some investors are deciding to spread out their meme coin holdings.

What is future of PEPE memecoin?

Even though PEPE’s stability is still unclear, the number of trades shows that investors are interested in it. The talk on social media about PEPE tokens seems to follow a pattern that has been seen before. Still, it’s too early to say if it will become a lost token or if it will continue to set new benchmarks.

People who use meme-based cryptocurrency every day on social media are becoming more and more interested in the PEPE coin. Also, Binance has released an official guide to buying PEPE, which the crypto Twitter community sees as a sign that the coin could be added to the exchange soon.

Why is WOJAK price up today?

The team revealed a second community NFT mint, which caused the price of the WOJAK meme coin to go up today. The huge upside for another memecoin may also be driving speculation on the token. Since the token launched a few weeks ago, traders have been looking at it as a hedge against FOMO after Pepe’s (PEPE) huge gains.

Pepe is an Ethereum-based memecoin that was inspired by the popular internet meme about a frog. It hopes to be as famous as Dogecoin and Shiba Inu. Since its all-time low on April 18, 2023, the price of PEPE has gone up more than 2,000%.

On the other hand, the price of WOJAK has gone up more than 1,171% since its all-time low of $0.00004902 on April 21, 2023. Some investors tried to cash out on the huge gains they had made over time, which is why Wojak is now trading for almost 7% less than its all-time high. At the time of writing, WOJAK traded at $0.000545 with a 24-hour trading volume of $57 million.

JUST IN: $WOJAK is up 123.2% today, reaching an all-time high of $0.000451.
🟢: https://t.co/FD5ISIg3Gt pic.twitter.com/onVgp7tXYr
— CoinGecko (@coingecko) May 2, 2023

Even though the memecoin still looks strong, more people making profits could cause the price to drop a lot. As was said, WOJAK tokens can be bought and sold on a few well-known CEX platforms and on Uniswap, which is the top decentralized exchange.

One reason Wojak Finance has survived is that it provides some well-defined use cases. Wojak’s “Profile-to-Earn” mechanism, which rewards ecosystem members with $WOJ for using the project’s NFTs as their social network profile photographs, is the project’s primary use case.

Conclusion

The quick increase in the value of these memecoins has drawn both investors and detractors. Some investors are attracted to the possibility of huge returns, while others are skeptical of the legality of these coins and are concerned about the risks associated with investing in them.