Memecoins Dominance: PEPE & WOJAK Investors Receive Massive Return?

• Pepe coin gained never ending attention on Twitter.
• WOJAK’s price climbed about 130% in a day.

Cryptocurrencies have become more mainstream and widely recognized as a legitimate asset class. However, the emergence of memecoins is a relatively new phenomenon that has gained significant attention in the cryptocurrency world.

Memecoin Gaining Investor’s Attention 

Memecoins are a type of cryptocurrency that is often based on memes or internet culture. Pepe (PEPE) is a relatively new memecoin that has gained significant attention in recent weeks due to its massive price surge. The coin was launched in March 2021 and is based on the popular “Pepe the Frog” meme. Despite facing initial scepticism, the coin has experienced a surge in value, with its price increasing by over 3000% in just a few days.

Pepe (PEPE) Price Chart (Source: Coingecko)

At the time of writing, PEPE traded at $0.00000104 with a 24-hour trading volume of over $339 million, which rose about 180%. Also, the Pepe coin price soared 87% in a day and has a market cap of $444 million.

Wojak is another new memecoin that also attracted investors in recent weeks as PEPE. Wojak (WOJAK) is based on a popular internet meme, specifically the “Feels Guy” or “Wojak” meme. Further, the coin experienced a massive price surge, with its value increasing by over 1,000% in just a few days.

Wojak (WOJAK) Price Chat (Source: Coingecko)

According to Coingecko, WOJAK traded at $0.00030140 with a 24-hour trading volume of $48 million. Also, Wojak’s price climbed about 130% in the last 24 hours.

The sudden surge in the value of these memecoins has attracted both investors and critics. Some investors are drawn to the potential for high returns, while others are sceptical of the legitimacy of these coins and worry about the risks associated with investing in them.