And finally… root of all evil
Reading time: 1 minute
In the risk-crazed world of crypto a new ‘meme coin’, named Evil Pepe Coin, has launched its presale event attempting to woo investors following the meteoric growth of similarly-named Pepe Coin earlier this year.
With increasing popularity, investors have been betting on new cryptocurrencies, taking a considerable risk in a sector rife with alleged Ponzi and pump-and-dump schemes, often putting money into projects which have no inherent value.
Claiming to be the brainchild of the same team behind tokens Thug Life Token and SpongeBob, Evil Pepe Coin starts with an initial market capitalisation of $2 million (c.£1.55m).
The team has said it is targeting a $100m (c.£77.4m) cap by collaborating “with influential meme-makers, forging alliances with the most wickedly creative minds in the meme coin universe”.
This year’s other Pepe Coin rose to just over $1 billion (c.£77m) in market cap after only a few weeks of going public. One trader saw their $263 (c.£204) investment balloon to an estimated $12.8m (c.£9.9m), coindesk reports.
The coin’s market cap has since dropped and is currently hovering around a $600m (c.£464.63m) market cap.
Share this article:
Subscribe to our newsletter to not miss articles like this one:
SUBSCRIBE
