Will meme coins take over from altcoins to rise? One user made nearly $14 million by buying PEPE

Recently, because the U.S. Federal Reserve continues to maintain high interest rates, and various data suggest that the United States may not cut interest rates in the near future, the cryptocurrency market sentiment has been depressed, including Bitcoin, Ethereum Many token types, including Fang, have experienced considerable declines. Although Meme coins are also affected, every time they rebound, some tokens rise at an alarming rate.

User made nearly 14 million US dollars by buying PEPE

According to the monitoring of the on-chain observation account SpotOnChain, a user spent a total of 156 between December 1 last year and February 12 this year. Ten thousand US dollars purchased 1.4 trillion PEPE tokens, and sold 140.4 billion PEPE tokens yesterday evening when PEPE hit a new high, in exchange for 1.567 million DAI.

Currently, the wallet still retains 1.264 trillion PEPE, with a total value of approximately US$13.94 million. It is worth mentioning that the user’s exchange for 1.567 million DAI is exactly equal to the cost of purchasing PEPE, so the 1.264 trillion PEPE retained are pure profits.

According to calculations, the user’s profit from purchasing PEPE is as high as 894%.

PEPE rose 11.4% in the past 24 hours

Although the overall cryptocurrency market generally shows a consolidation trend, PEPE has an amazing momentum in the market. According to Coingecko data, the price of PEPE is now quoted at $0.00001136. It rose 11.4% in the past 24 hours.

Meme coin takes over altcoin rise?

A special background of this bull market is that the U.S. Federal Reserve maintains high interest rates (5.5%). Compared with the low interest rate (0%~2.5%) environment of previous bull markets, this bull market The economic conditions are more stringent. In addition, the market value of "altcoins" favored by institutions is generally too high and the proportion of large investors' positions is high, leaving individual investors with limited room for imagination on the rise of altcoins.

Therefore, in order to pursue high multiples and high gains, many investors may shift their attention to Meme coins, which will lead to the emergence of "Meme Season".

Where to buy Meme coins

The following is the editor’s tutorial on buying Meme coins on the OEX Exchange:

1. Click here to open the official website of OEX OKX Exchange , enter your email address on the homepage, click "Register" and slide the slider to the right to complete the puzzle for verification, then enter the verification code received by email. The verification code is valid for 10 minutes

2. Then enter your mobile phone number, click "Verify Now" and enter the six-digit verification code received on your mobile phone. The validity period is also 10 minutes

3. Select residence Country/region, check the Terms of Service, "Risk and Compliance Disclosure" and Privacy Policy and Statement

4. Create a password that must be 8-32 characters in length. 1 lowercase letter, 1 uppercase letter, 1 number, 1 symbol, such as: !@ # $ % and other conditions

5. After logging in to the account, find the homepage Click the "User Center" icon to enter the identity authentication page. Different levels of authentication can be performed according to different needs (note: video authentication needs to be operated on the APP)

6. You need to have USDT before trading. You can buy coins in C2C for trading. Select the appropriate merchant according to your needs, click "Buy", then pay according to the prompts and wait for the merchant to release the coins (if you do not receive the currency for a long time, you can contact customer service for processing) )

7. Click "Transaction" on the homepage - "Coin" to enter the transaction page

8. Enter Meme coin in the search box, select the Meme coin/USDT trading pair, and you can see the real-time market price of Meme coin

9. Enter the amount of Meme coins you want to buy and click Buy Meme coins

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