With the price of Pepecoin (PEPE) rising 40% on Tuesday, profit-taking Pepe holders are moving their funds into the new crypto token in search of a 100x potential profit.
PEPE’s sudden rise to its highest since May last year came after it broke through the key resistance level at $0.00000188.
PEPE's market cap was last valued at just over $0.0000026 and was most recently around $1.1 billion.
PEPE could soon recover to all-time highs in the $0.0000045 region, which is 70% higher compared to current levels.
But with Pepe once again becoming a billion-dollar meme coin, its upside potential is increasingly limited.
At least, many meme coin investors aiming for 100x profits will take this view.
To secure 100x returns, meme coin investors prefer to look for smaller, lesser-known coins with lower market caps.
One token that some analysts are eyeing for a 100x return is a newly launched meme coin called Frogwifhat ($FWIF).
This is why Pepe holders are transferring their funds to this new crypto token.
Why Pepe holders are transferring their funds to the new cryptocurrency FloWifhut ($FWIF)
A just-launched meme coin called Frogwifhat (FWIF) could be the next meme coin to go 100x.
The token was launched on Uniswap on Monday and reached a market cap of $4 million within hours.
Investors now have an opportunity to buy on the edge, as the token price has returned to around $0.0018 and the market cap has since reached around $800,000.
A perusal of the frogwifhattoken.com website reveals that this coin is designed to mirror the success of Dogwifcoin, Bonk, and Smog, with the coin's founder behind the success of the other meme coins mentioned above. There are even rumors that it could be the same person.
Potential buyers should do their own research, but there's a lot to like about this coin.
First, more than $3.23 million in liquidity is locked up. This is an important consideration for coins listed on DEXs.
Locked liquidity means there is zero chance of a lag pull, where the project team steals token holders' funds.
Forgwifhat also started properly. This means that all 1 billion tokens were immediately available on the public market.
By not allocating tokens to development teams or “marketing” purposes, you reduce the possibility of token dumps.
Frogwifhat aims to follow other coins in being an animal wearing a hat, but this time it's a frog wearing a beret, and of course berets are a staple of French culture.
Check out Frogwifhat on DEXTools here
How can I buy FWIF?
Users interested in Frogwifhat's punt should check it out on Uniswap.
To purchase, all you need to do is connect to your Web3 wallet (via Ethereum) and have ETH.
ETH can be purchased on major cryptocurrency exchanges, and setting up a Web3 wallet (such as MetaMask) is free.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
