The price of PEPE coin PEPE/USD is soaring Wednesday after news that Robinhood Markets HOOD has listed the cryptocurrency, with a Coinbase Global COIN listing expected soon. The increased accessibility opens the door for more investors to buy PEPE.
Here’s a look back at how much investing in Pepe back in 2023 would be worth today.
What Happened: Pepe coin, based on the popular Pepe the Frog meme, launched in mid-April 2023 and gained interest from the cryptocurrency community. The number of holders quickly grew thanks to the meme’s built-in popularity and name recognition.
While Pepe Coin’s first year was memorable, the cryptocurrency’s second year could be even bigger. On Wednesday, news came out that more people will be able to buy the cryptocurrency if they choose to do so.
Robinhood, which previously added the coin in Europe, added Pepe coin to its platform on Wednesday. Coinbase also said that it would be adding Pepe coin to the platform.
With these two major cryptocurrency exchanges adding Pepe coin, more traders around the world will have access to buy and sell the cryptocurrency.
Several investors got into PEPE token before it began trending on social media back in 2023, and before it was tracked on cryptocurrency sites like CoinMarketCap.
On April 17, 2023 the coin took off and PEPE started to trend on https://twitter.com/SpottieWiFi/status/1648084348355084293where hundreds of people tuned into several Twitter Spaces to find out more about the coin.
The coin is based on the Pepe the Frog meme created by artist Matt Fury. Because the meme is so well known, the coin has a built-in fan base and has seen continued interest.
Read Also: Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto
Investing $100 in PEPE Coin: While the earliest investors in PEPE coin turned their small investments into millions of dollars, many struggled to cash out due to the coin’s low liquidity and the growing threat of a price crash as more coins were sold. Several early investors were able to cash out some, if not all, of their holdings.
Investors who started following PEPE as it trended on social media, however, could have still seen a huge return on their investment if they had bought and held until today.
PEPE traded between $0.00000002764 and $.00000007957 on April 17. The coin opened for trading that morning at $.00000005685. While the coin launched before this date, this is one of the earliest prices that can be found on sites like CoinMarketCap and is used for the hypothetical investment.
A $100 investment at the opening price could have purchased 1,759,014,951.63 PEPE.
Based on a price of $0.0000184 for PEPE at the time of writing, the $100 would be worth $32,365.88 today.
This represents a return of 32,265.9% in around 19 months.
PEPE hit an all-time high of $0.00001944 on Wednesday and could continue to see strong interest after the exchange listings. The big question will be whether the coin continues to trend higher and maintain interest, or if old investors use the listings as an opportunity to cash out.
The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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This article was previously published by Benzinga and has been updated.
Photo: Akif CUBUK/Shutterstock.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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