[Analysis] "Retail Investors Massively Buying Meme Coins like Pepe (PEPE)... Supply Decreasing"
Minseung Kang
Summary
- Retail investors are reportedly buying large amounts of Pepe (PEPE) and other meme coins, leading to a decrease in supply.
- Robinhood has acquired 2.5% of the total PEPE supply within 20 days of listing it.
- This is equivalent to a $50 billion buying spree in Bitcoin over three weeks.
There are observations that retail investors are massively accumulating meme coins like Pepe (PEPE).
On the 9th, cryptocurrency analyst Andrew Kang stated on X (formerly Twitter), "Retail investors are rapidly depleting the supply of meme coins by accumulating them in large quantities in the market."
He added, "Robinhood holds 2.5% of the total PEPE supply just 20 days after listing it," and "This is equivalent to a $50 billion buying spree in Bitcoin over three weeks."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
