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🥁 21,000% in a Week, Will Pepe Cash Hold or Fold?

Imagine a meme coin that pumps 21,000% in less than a week after launch. Now, open your eyes and realize you’re not imagining

Author

The BEN Team
April 23, 2023

Reading Time: 6 minutes

Woo! Hope you're having a good Sunday, Cryptonians! 🎉 

Welcome to today's issue of BEN Beats 🪩Get in tune with the markets and be the life of the party with your expert knowledge on all the trending topics - Don't miss a beat!

Today's topics

  • Trending news

  • Pepe Cash up 21,000%?

  • Events calendar (with promo codes and lots of free tickets)

  • Tweet of the day

  • Web3 Tool of the day

  • Co-founder connect

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What's trending 🔥

Secretary Yellen wants to make things harder for those 'nonbank' peeps who offer financial services.

Tracking the portfolios of crypto Billionaires from Buterin to Nakamoto.

ChatGTP AI dataset is grabbing data from BitcoinTalk, Steemit, and the U.S. SEC. Pretty wild, huh?

A crypto whale out there with 1,128 $BTC worth $31.6M that's been asleep for a decade. And now it's moved 279 $BTC.

European Central Bank President reveals plans to launch a digital euro (CBDC), says: I don’t want Europe to be dependent on an unfriendly country currency … or a Facebook, Google or anybody alike”.

The top 5 XRP addresses are holding over a whopping 7 billion coins!

Meme of the Day

Main stage 🎤

21,000%🚀 in a Week? Will Pepe Cash Hold or Fold?

Imagine a meme coin that pumps 21,000% in less than a week after launch. Now, open your eyes and realize you’re not imagining because that’s exactly what happened to Pepe Cash.

But is it legit?

Is any meme coin legit?

Remember, meme coins are cryptocurrencies based on Internet jokes, like DOGE or SHIB. The biggest driving factor in the price for these meme coins is usually Internet hype and FOMO.

Pepe Cash (PEPE) is based on the “Pepe the Frog” meme. There are 420.69 trillion tokens in circulation and it is currently at a market cap of $140 million. 10,000 addresses held PEPE as of last Tuesday.

One lucky Pepe believer paid $250 for 5.9 trillion PEPE tokens. That’s now worth ~$2 million!

But not so fast. PEPE holders can’t cash out cause there is only $3 million in liquidity. Meaning as soon as people start selling large amounts, the price will crash, causing more people to want to sell, causing the price to crash, and so on into a death spiral.

That is, unless everyone holds and doesn’t sell, and more people buy PEPE to keep the price going up and the party going. Only time will tell what will happen in this game theory hokey pokey.

💫Events Calendar💫

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Tweet of the day 🐦

🧰 Web3 Tool of the Day ⚒️

Check out this sick tool called Bubblemaps! It helps you audit the supplies of DeFi tokens and NFTs. They use these funky, colorful bubbles that make visualizing on-chain data a breeze. And get this; you can investigate wallets, reveal connections, and cut through the noise of blockchain data! How awesome is that?! 😎👌

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Disclaimer: This newsletter is purely educational and is not intended to be financial advice. Please don't take it as such. This is not an invitation to buy or sell digital assets, nor does it suggest how you should make your financial decisions. Always do your own research.