Pepe Coin Mania: How to Stay Safe and Profit From Meme Coins
• Pepe Coin (PEPE) is the latest digital asset to flip the entire crypto market on its head. Early investors could ride PEPE hype to the moon and beyond, netting millions in profits over just a few days.
• The success of Pepe Coin sparked the rapid deployment of thousands of similar meme coins on the Ethereum (ETH) blockchain, many of which were scams or rugpulls designed to extract funds from eager traders.
• This article explores why Pepe Coin was such a success and provides basic tips on how to stay safe when hunting for new meme coins.
What Is PEPE Coin?
Pepe Coin (PEPE) is an ERC-20 token on the Ethereum blockchain that was launched without any presale, with a unique twist – zero taxes, a burnt liquidity pool, and a renounced contract. This approach was designed to make PEPE a coin “for the people, forever” according to its official website. It had no long-term vision or sustainable roadmap it set out to achieve; its goal was simply to establish Pepe’s place as the King of Memes over incumbent dog-themed coins.
Why Did PEPE Price Explode?
The honest answer is no one really knows why PEPE price exploded. While some skeptics believe that it was nothing more than hype and speculation driving prices up, others point to the unique features of PEPE like zero taxes and burnt liquidity pools that made it highly desirable for investors looking for quick profits with minimal risk.
What Does Pepe Coin Mean for the Crypto Market?
The meteoric rise of Pepe Coin demonstrated how powerful memes can be in driving investor interest in cryptocurrencies and DeFi projects alike; however, it also highlighted some important risks associated with investing in meme coins. Many copycat projects have attempted to replicate the success of Pepecoin but failed due their lack of proper research or understanding of underlying technology behind these assets – resulting in scams or rugpulls designed to extract funds from eager traders looking for profits.
How To Stay Safe In DeFi Locked Liquidity Renounced Contract Top Holders?
When investing in meme coins like PEPE or SHIB there are several precautions you can take: always do your own research before investing; look into who are top holders/owners; check if tokens are locked/liquidity renounced; investigate tokens contracts code via tools like Etherscan; use only reliable exchanges licensed by regulatory bodies like FCA or CySEC etc.; lastly never invest more than you can afford too lose!
What Basic Tools Help Me Check If New Tokens Are Safe?
When researching new tokens you should use tools like Etherscan which allow you to investigate their Smart Contracts code free-of-charge – this will help you determine whether they are legit/secure investments before risking your hard earned money! You should also keep an eye out for news articles about any particular token project – this might give insight into potential red flags or provide evidence supporting legitimacy claims made by promoters etc..