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Meme coin craze resurges, with meme second generation PEPE 2.0, DOGE 2.0 skyrocketing in a single week

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Meme coin craze resurges, with meme second generation PEPE 2.0, DOGE 2.0 skyrocketing in a single week

The meme coin craze has resurfaced, with token creators not only mimicking previously popular meme coins like PEPE, FLOKI, and SHIB, but also launching 2.0 versions. Recently, even BTC 2.0 and ETH 2.0 have been deployed, with PEPE 3.0 and DOGE 3.0 following suit.

Note: Many trading pairs on decentralized exchanges have extremely low liquidity, investors must exercise caution and risk management.

Meme Coins PEPE and WOJAK Surge and Crash

The meme coin craze sparked by PEPE emerged around the end of April this year, with meme newcomers like PEPE, WOJAK, AIDOGE, and Turbo experiencing significant surges, but the excitement was short-lived.

Since being listed on exchanges in early May, PEPE has dropped by 60% from its peak.

PEPE Daily Chart

However, about two months later, a new wave of meme coins 2.0 emerged, actively trading on decentralized exchange DEX in the past week. Despite suspicions of manipulated supply, prices easily surged.

What is PEPE 2.0? New Meme Coin FLOKI 2.0 Emerges

Mimicking the previous generation of meme coins, including PEPE 2.0, FLOKI 2.0, and bobo 2.0, were released successively in the past week, according to related data from DEXTools:

  • 6/27｜PEPE 2.0: $0.000000134709 with a 33.1% 24-hour increase

  • 7/3｜FLOKI 2.0: $0.00000000031 with a 254.76% increase

  • 7/5｜SHIB 2.0: $0.00000000019 with a 26.56% increase

  • 7/4｜DOGE 2.0: $0.0₇2 with a 12,042.3% increase

  • 7/5｜BTC 2.0: $0.04 with a 30,488.7% increase

  • 7/5｜ETH 2.0: $0.00028 with a 4,438% increase

PEPE 2.0 has seen a remarkable surge since its liquidity deployment.

PEPE 2.0 Daily Chart

Analysis Platform: Early Buyers Monopolize Supply

On-chain address analysis tool Bubblemaps points out anomalies in PEPE 2.0, suggesting that early buyers may have monopolized most of the supply of PEPE 2.0 and slowly sold tokens.

With controlled circulation and existing buyer demand, token prices have risen significantly.

Bubblemaps also indicates that the whale wallets selling PEPE 2.0 are related to the three wallets of the deployer.