A cryptocurrency called PepeMusk, which has been recently introduced, is attracting attention in the market with its considerable performance metrics every day. The price of the token which is $0.00008123 has witnessed a growth of 10.94% in the last 24 hours.
NOOOOOO with a fully diluted valuation of $81,230 it has become even more popular among the rare dealers who are looking into the memecoin sector, the high risk, high reward deals.
So, in this case, the scope of the total supply and the maximum is one billion tokens, and according to the information received, all of the tokens are in circulation. Such a structure is a guarantee of a fixed supply of coins and thus possesses the power to sway the price as demand changes.
Even though the market capitalization of the memecoin is just $81.23K, the 24-hour trading volume of $5.97K is an indicator that there is growing interest.
The market capitalization to volume ratio of PepeMusk still stands at 7.36%, which tells us that it has optimal liquidity for a small-cap asset.
The development of a trading volume is a sign that the existing or potential investors might be taking a serious look at the project. PepeMusk’s performance will be closely followed by some high-stakes betting players, as meme coins come with high volatility as a standard.
Meme coins are on a strong upward trend these days and there are several projects that use the community and internet culture sensations. PepeMusk which is based on two famous actors in the field of cryptocurrency is at the moment most probably using this phenomenon.
The actual value of the token will be directly proportional to the community’s excitement and the overall market’s general attitude.
Although PepeMusk has performed well on its daily basis, it continues to be just a risky asset without much predictability for an unstable market.
A large part of the low-cap memecoins due to fast super gains fades into history being too hard to sustain. The future trend of PepeMusk whether it can be successful in this dynamic industry or will vanish forever will be determined by the coming days and the confidence of the investors.
The development of new tokens implies that traders are still interested in finding temporary solutions in the market which is characterized by extreme fluctuations. Its recent skyrocketing price signals a development of the hype among investors, but it is hard to forecast the way it might behave in the future.
The investors are going to monitor the development of this coin to find out if this new token can hold momentum or if it will be another short-living sensation like many others in the world of meme coins.