In reality, it may not be easy
A few days ago, a crypto investor exchanged 0.125 ETH, then worth $250, for 5.9 trillion PEPE tokens. Yesterday, these tokens were worth $1.02 million.
Although the next memcoin investor currently owns $1.02 million worth of PEPE tokens, on closer inspection it becomes clear that there is a difference between asset valuation “on paper” and real money.
“With 5.9 trillion PEPE tokens in their portfolio, it will take 46,200 years to liquidate these assets, assuming demand doesn’t drop,” said Grzegorz Drozdz, market analyst at Conotoxia Ltd. “Any attempt to quickly get out of a position could cause the price to drop even below the buy level.”
But it is not yet known whether he will be able to sell the purchased PEPE tokens
Drozdz compared the situation to “billionaires who want to monetize their wealth,” noting that “an attempt to sell their savings can lead to a fall in the price of the respective shares.”
Previously, Gurgavin Chandhok created a memcoin called Pump Coin, which skyrocketed to $4.8 billion in market capitalization while owning 99% of the tokens. However, due to lack of market demand, Gurgavin Chandhok was unable to sell the coins.
The Pepe the Frog-themed PEPE meme-coin has skyrocketed in recent days, after its creators called it “the most memorable memcoin in existence.” These include the popular cryptocurrencies Dogecoin and Shiba Inu.
