What is Pepecoin (PEPE)? The trending new memecoin

and so on — to drive demand for their coins. Therefore, even large institutions are open to investing in them.

Nonetheless, the influence of culture should not be underestimated. The NFT asset class in Web3 has shown that culture could bring communities together and help drive huge sums of capital toward it. Memecoins might just be a fungible and a more liquid equivalent of NFTs.is not on, it must be noted that there is often limited liquidity within the system.

This trend was also noticeable on Solana, where the top two coins by the number of wallets, namely Guac and King, had several thousand wallets in common. Needless to say, the memecoin space is perhaps too risky to even think about having regulators address it. Also, with only a few hundred thousand wallets involved in the memecoin space and the overall market cap of memecoins at less than $16 billion, it is still in the early days. Yet, it is a huge regulatory risk for the firms launching memecoins, as they are currently perceived as the most speculative bet within cryptos.

$PEPE exemplifies culture-based assets in the crypto world. While it's premature to determine the future of memecoins, they could potentially develop into a significant economy.

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