![]() While it can be tempting to try and capitalize on the hype surrounding PEPE, investors should exercise caution before investing in such coins. Although some investors may have made a fortune by getting in early on these coins, the likelihood that you will be able to replicate the same strategy is as likely as winning the lottery. Even if PEPE doesn't suffer this fate, the reality is that the vast majority of cryptocurrencies fail to achieve any long-term success. It isn't uncommon for cryptocurrencies over the years to completely lose all of their value. What's more, as with any meme coin, there is a real risk that PEPE's value could evaporate almost overnight. Therefore, its price is likely to be far more volatile and subject to dramatic swings in both directions. Unlike these blue chip cryptocurrencies which have demonstrated use cases in various applications, PEPE's value is driven purely by speculation. They have stood the test of time and have proven to be a reliable investment for many. Such cryptos, like Bitcoin and Ethereum, have legitimate applications and are backed by a strong network of developers and users. The safer bet is to invest in cryptocurrencies with real-world utility and track records. This is a common problem with many meme coins, which often rely solely on social media buzz to drive their value. Perhaps investors are becoming aware of this as the token shed more than 20% over the weekend. Though it's seen some significant gains in recent weeks, there is no evidence of any real utility or use case for the cryptocurrency. ![]() Unfortunately, it's more than likely that PEPE is heading for a similar fate. However, the hype was short-lived, and the price of Dogecoin subsequently plummeted just as quickly as it rose, leaving many investors with significant losses. After starting the new year trading for just a penny, its price climbed more than 8,100% in the span of a mere five months. Despite starting as a joke, Dogecoin saw a massive surge in popularity in early 2021. One of the most notable examples of a token catapulting into headlines and subsequently losing steam is seen in the story of the original meme coin, Dogecoin. This has happened before, and it can get ugly While it can be tempting to try and capitalize on these movements, maintaining a disciplined, long-term approach is the best way to achieve consistent results in the cryptocurrency market. It's no secret that investing in cryptocurrencies can be a volatile game, with prices fluctuating dramatically in short periods.
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