- Meme Coin 2.0 tokens such as pepe 2.0, floki 2.0, and bobo 2.0 are gaining sudden popularity, with trading volumes skyrocketing into millions and turning small investments into massive fortunes.
- The original pepecoin (PEPE) continues to draw investors with an almost 80% rally in the past two weeks, fueled by large purchases.
As a blockchain expert, allow me to elucidate the latest trend causing ripples in the crypto market – Meme Coin 2.0s. In what seems to be the current crypto flavor of the month, these microcap tokens such as pepe 2.0, floki 2.0, and bobo 2.0 are marketed as the rebirth of their famous meme coin predecessors. For those who feel they missed out on the initial meme coin surge, this could appear as an enticing opportunity.
These clone coins, predominantly released in the last week, are making waves by attempting to align themselves with the renowned pepe, floki, and bobo tokens. Trading volumes for these tokens have exploded into millions, drawing hundreds of thousands of dollars in liquidity. Remarkably, these ventures have turned meager dollar investments into six-figure returns, virtually overnight.
The Fleeting Fame of Meme Coin 2.0
Historically, these clones exhibit a transient existence. The previous year saw individuals wagering on concepts derived from the English language and ‘grimacecoin,’ inspired by a tongue-in-cheek McDonald’s tweet. The decentralization of cryptocurrency exchanges allows any entity to issue and trade tokens on Ethereum or other blockchains for mere pennies.
Among these fresh clones, pepe 2.0 seems to hold the crown of popularity. It witnessed nearly $7 million worth of trade in just 24 hours. At present, pepe 2.0 boasts a market capitalization of $18 million, a drop from its peak of $45 million just a week ago. One investor turned a modest $900 into a staggering $176,000 in less than a day.
An intriguing aspect of the Meme Coin 2.0 trend is the market’s manipulative behavior. On-chain analysis tool Bubblemaps points out the market centralization by early investors, who may have monopolized a considerable part of the pepe 2.0 supply. This situation has resulted in significant price pumps due to high buying demand and considerably low sales from these early investors.
Meanwhile, the original pepecoin (PEPE) isn’t losing steam. It continues to entice investors, riding on a nearly 80% rally over the past two weeks. Data from Lookonchain reveals two wallets scooping up millions of these tokens. This occurrence is a testament to the enduring appeal of the meme coin trend, with these frog-themed tokens predicted to rival dogecoin (DOGE) and shiba inu (SHIB), the reigning champions of meme coins, in the forthcoming years.