Here’s why this new Pepecoin price is soaring

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As a seasoned analyst with years of experience in the crypto market, I’ve witnessed countless tokens surge and fade away. However, the recent parabolic rise of Pepecoin Network (PEP) has caught my attention. Having closely monitored the Dogecoin (DOGE) hard fork and its subsequent journey, I find myself intrigued by PEP’s meteoric rise.

The cost of tokens within the Pepecoin Network has skyrocketed to a new peak due to an overwhelming surge in demand following its recent launch, reflecting its remarkable popularity.

Pepecoin Network (PEP), derived from Dogecoin (DOGE), reached a peak of $0.001736, elevating its market value to more than $151 million. Since its debut in January this year, the token has experienced a surge of over 3,000%.

The rise in popularity of PEP has mirrored the current upward trend of the meme token PEPE, which currently ranks third among meme coins in the cryptocurrency sector. This year alone, PEPE has seen a staggering increase of more than 1,600%. In fact, this week its market value surged to an impressive $10 billion.

The Pepecoin Network experienced growth as certain cryptocurrency platforms started offering the token for trade. Specifically, it became available on CoinEx Global, a prominent exchange that had traded over $953 million in coins on December 10.

CoinEx becomes the pioneer in listing the PEP token, joining forces with exchanges like XeggeX and Nonkyc. If the PEP token maintains its popularity, it’s likely that other prominent platforms such as Binance, MEXC, OKX, and Bybit might also decide to list it.

📣 Announcement – $PEP

📁 Introducing @PepecoinNetwork, a fresh and entertaining community inspired by the original #Dogecoin spirit! Unlike an ERC20 token, Pepecoin is a standalone layer 1 blockchain, eliminating the complexity of smart contracts that could potentially be misused by malicious actors.

— CoinEx Global (@coinexcom) December 10, 2024

The Pepecoin Network differs notably from the original Pepe as it functions as a proof-of-work cryptocurrency that stemmed from a split (hard fork) in the Dogecoin network. In simple terms, a hard fork happens when developers create a new currency based on an existing one. For instance, Bitcoin divided into Bitcoin Cash, and Ethereum bifurcated into Ethereum Classic.

Similar to Bitcoin, Pepecoin employs certain characteristics typical of proof-of-work cryptocurrencies. For example, it features a halving schedule that intermittently decreases the block rewards. The third such event took place in November, with another one anticipated for February 3rd.

Pepecoin intends to serve as the primary currency within the Pepe environment due to its affordable transaction fees. Unlike Pepe, it functions independently on its own blockchain, thereby boosting its security levels.

What next for the Pepecoin Network?

This month, the price of PEP has significantly increased due to the focus on Pepe’s entry into the exclusive $10 billion market cap club. This surge in value has ignited greater interest among investors, leading to an increase in users on its associated platform and over 18,000 followers joining the r/Pepecoin subreddit.

It’s quite likely that the Pepecoin Network will keep climbing as long as its main token, Pepe, performs favorably. If this upward trend continues, the token could skyrocket and potentially reach a market capitalization of $500 million during this bull market. A significant factor contributing to this growth would be potential listings on more cryptocurrency exchanges. However, if the price drops below $0.0010, it might signal a shift in the optimistic forecast.

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2024-12-10 17:16