The popularity of the meme coin Pepe (PEPE) has decreased drastically, as it falls out of the list of top 100 cryptocurrencies.
Meanwhile, the new cryptocurrency Rebel Satoshi (RBLZ) is gaining attraction in the Web3 space, with 1 million dollars raised in its ICO so far.
Pepe’s Descent From Peaks To Lows
Earlier this year, Pepe (PEPE), a meme coin connected to Pepe the Frog meme and built on Ethereum, experienced tremendous growth.
Recently, Pepe suffered a huge drop in its rank in the cryptocurrency market, from its highest ranking to the 112th position, with a decline of 66% in value, currently trading at $0.00000142.
It all started when Pepe’s developers sold $15.7 million worth of tokens from the central wallet. This caused confusion within the Pepe community and made it hard for members to trust the system.
If a project sells its holdings in an asset, it may lead to community members selling theirs because they assume it means the project is going to go down.
Even though the Pepe team made up a story of “a few bad actors” within the team and showed an attempt to move the remaining tokens to a safer wallet, still, there is still less credibility and trust towards the project.
After Pepe’s telegram account was hacked again, many people started to doubt if the token price would recover or not.
Many in the crypto community, including EricCryptoman, have expressed their concerns about the future direction of the market.
Experts like CryptoTony shared predictions about the possibility of further corrections. If Pepe goes past the limit of its current support, there could be a risk of dropping even more.
See Also: Solana (SOL) Enters Price Correction Mode As The Year Draws To A Close
Rebel Satoshi Emerges As A Silent Revolution in Meme Coins
While Pepe is facing issues, there is a new player in town, Rebel Satoshi (RBLZ), which seems to be capturing the interest of investors.
Rebel Satoshi has received a good level of support since its introduction because it brings together people who want to fight back against oppressive rules and encourages them to speak up.
Rebel Satoshi’s governance and membership token, RBLZ, is the central component of this mission.
When someone invests in RBLZ, they get a lot of benefits because it gives access to the staking program, an NFT marketplace and a play-to-earn (P2E) game.
Moreover, as an RBLZ investor, you get special privileges, including access to 9,999 unique digital assets stored in the Rebel NFT Vault.
Rebel Satoshi’s presale is ongoing, with the price of the asset set at $0.02 per token in Rebels Round 3. Over 81% of allocated tokens in this round have been snapped up, with the presale raising $1 million already.
Post-presale listing price is $0.025 and the platform accepts Bitcoin (BTC) and 50 other cryptocurrencies for a smooth onboarding experience.
The crypto market is always changing, just like how the value of meme coins can experience a high level of volatility.
See Also: Ethereum Price Surges 5% Above The $2,300 Support Zone, Has ETH Bulls Finally Take Over?
Generally, a meme coin is a term used to describe digital currencies which are inspired by characters, people, animals, or artworks and they are driven by communities on the internet.
These coins are designed in a way that appeals to gamers and those interested in the funny and playful aspects of coins. Investing in meme coins can be fun to watch because their values can go up and down quickly.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
