Few cryptocurrencies have experienced the rapid growth that PEPE had in its first weeks of life. Just three weeks after its launch, PEPE reached a market capitalization of over 1 billion dollars. This milestone was particularly remarkable when compared to other more established memecoins. For example, Dogecoin took almost four years to reach a similar capitalization.
The initial success of PEPE was largely driven by its virality on social media. Platforms like Twitter and Reddit played a crucial role in spreading the currency, where success stories of investors were shared, showing how their small initial investment multiplied several times in just a few days. A notable case was that of an investor who exchanged 0.125 ETH (about 250 dollars) for 5.9 trillion PEPE tokens.
In a matter of days, the value of those tokens increased to 1.8 million dollars. Such stories generated a wave of speculation around PEPE, attracting thousands of new investors.
However, despite this impressive growth, PEPE has had its ups and downs. Volatility is an inherent characteristic of meme cryptocurrencies, and PEPE is no exception. The price of PEPE has experienced significant drops after its initial peaks, highlighting the high risk involved in investing in such assets.