We’ve been recognizing the POP coin with totally different Token Explorer methods (just like the one within the above picture) for some time now. With some cooldown durations, Proof of Pepe has now began to realize some on-chain momentum, which we will see being mirrored within the POP token’s worth. And for the reason that POP crypto coin is in its early stage, now’s a very good time to discover it!
So, transferring ahead, we’ll first clarify what the Proof of Pepe crypto mission is. We’ll do that by exploring the mission’s official web site, its X (former Twitter) account, and whitepaper.
Subsequent, we’ll give attention to the POP coin. Once more, we’ll first clarify what $POP is. Then, we’ll take a look at the token’s tokenomics and analyze its worth motion. That is the place we’ll additionally speculate on some worth predictions for this crypto.
Lastly, we’ll clarify how Moralis Cash helps you establish if POP deserves your additional consideration and when to purchase/promote it.
Exploring Proof of Pepe – What’s the Proof of Pepe Crypto Mission?
The Proof of Pepe crypto mission is all about meme cash. It goals to grow to be a chosen decentralized community for meme cash, notably catering to the PEPE group.
It’s essential to level out that this mission began by launching the POP coin on July 8, 2020. Judging by the best way issues are headed, this was primarily to realize some recognition. We’ll talk about the POP token additional in a while.
In spite of everything, the mission’s plans, as acknowledged on its official web site and within the Proof of Pepe whitepaper, had been at all times greater. The mission meant to create a brand new layer-1 (L1) blockchain community all alongside. And in response to the present pinned tweet on the mission’s X account, they’ve already reached the primary part of that milestone:
And, utilizing the above-outlined particulars, anybody can add the POP community to MetaMask:
The POP Crypto Community
In response to the above-outlined tweet and the mission’s chain explorer – “pepescan.app” – the mainnet went dwell on July 27, 2023.
So, what’s the POP mainnet?
In response to the mission’s whitepaper, the POP mainnet is a brand new Ethereum-like L1 blockchain. Plus, customers can use the PEPE token to cowl the fuel charges.
Sadly, the whitepaper doesn’t present any technical particulars. Nonetheless, it does level out that this new community makes use of a novel consensus mechanism referred to as “Proof of Pepe” (PoP). The latter is allegedly the important thing that makes the POP L1 quick, safe, and cost-efficient.
If all that is really true, then in response to the well-known blockchain trilemma, the community should not be correctly decentralized. Except the devs of this memetic mission have cracked the code (which is very unlikely). With that in thoughts, be certain to be additional cautious interacting with this community. You must also take the mission’s claims with a grain of salt.
Be aware: In case you are new to blockchain expertise, we advocate testing the mission’s whitepaper. The latter really slightly neatly explains what L1 networks are. It additionally covers the 2 mostly used consensus mechanisms – PoS and PoW.
In response to the mission’s mission, the POP crypto community goals to grow to be the go-to hub for memes. The group’s purpose is to supply a devoted platform and blockchain the place anybody can create, share, and have interaction with memes and accomplish that in a seamless and decentralized method.
On the forefront of this hub is meant to be a user-friendly meme-creation platform. Be aware that this platform doesn’t exist but.
As well as, as per the announcement of the mission’s dev (@QuadaBullHours), the community will launch the PEPErium DEX.
Can POP Succeed?
If you happen to’ve been across the crypto block for some time, that usually seemingly not possible issues find yourself occurring. You will need to have additionally seen that there have been tens of 1000’s of tasks making wild claims and never delivering on them as properly. Thus, solely time will inform if the PoP consensus is absolutely pretty much as good because the mission’s whitepaper claims.
Nonetheless, we most likely agree that the efficiency of the PEPE token and the adoption it acquired in a comparatively brief time stunned most of us. So, by focusing on Pepe’s sturdy and enormous group, the mission has an elevated potential for fulfillment. After all, presuming that the group behind it may possibly ship.
Talking of the POP group, except for the aforementioned dev’s Twitter deal with, there aren’t any particulars concerning the creators behind the mission. Like most meme cash, the mission claims to be within the arms of the group.
If you happen to like exploring new blockchains, be happy to make use of the above-outlined particulars so as to add the community to your MetaMask. Then, you need to use the POP mainnet bridge to switch over some $PEPE from Ethereum:
However, you may simply be keen on making a worthwhile commerce on the POP coin. In that case, the next sections might be your cup of tea.
What’s the POP Coin?
POP stands for “Proof of Pepe,” which is each the identify of the above-presented crypto mission and the mission’s cryptocurrency. Other than being the abbreviation of the token’s identify, “POP” ($POP) can also be its ticker or image.
Till POP will get a transparent use case, it falls below the class of meme cash. So, it’s a meme coin that lives on the Ethereum chain, the place it follows the ERC-20 token commonplace.
Listed here are the main points that can allow you to additional grasp the gist of the POP coin:
- Kind: ERC-20 token
- Chain: Ethereum
- Contract tackle: 0x265F542C1E78068F13d87C6fE0df54f3e9562a48
- Complete provide: 1,000,000,000 $POP
- Purchase tax: 1%
- Promote tax: 1%
Use Instances for the POP Meme Coin
Usually, L1 blockchains (e.g., Ethereum) use native cash (e.g., ETH) to energy transactions. Nonetheless, within the case of the POP community, the creators determined to present that utility to the PEPE token. Plus, the POP coin was created on the Ethereum chain earlier than the community went dwell.
Through the use of Etherscan, we will see that the on-chain transaction that was answerable for minting the POP token occurred on July 8, 2023:
Nonetheless, the mission’s whitepaper presents the POP coin because the PoP community’s native cryptocurrency. As such, it’s not clear whether or not $POP may also be capable to be used to cowl fuel charges on that chain. Maybe, we will count on $POP to serve governance functions, permitting the POP crypto group to suggest and vote on the route the ecosystem should take.
So, at this level, we will solely say that customers will be capable to discover the POP ecosystem utilizing $PEPE and $POP:
It is usually not clear but how the present POP token that lives on the Ethereum chain might be transitioned to the POP chain. In spite of everything, the aforementioned bridge solely focuses on the PEPE token.
POP Coin Value Evaluation
Whether or not you want to get a bag of $POP since you actually imagine within the mission or since you really feel it may be a very good short-term commerce, you might want to think about the token’s worth.
As such, allow us to take a look at the value path of the POP coin on a four-hour chart:
The highest line of the above picture signifies the token’s lowest and highest worth factors to date. The asset’s all-time low (ATL), which was additionally the POP token’s itemizing worth, sits at $0.000004688. And the present all-time excessive (ATH) worth equals $0.006349.
Even only a fast look on the above chart clearly tells you that the token’s worth has been on the rise for the reason that itemizing. And, by evaluating the ATL and ATH values, you possibly can see that the POP crypto elevated in worth by greater than 1354x.
Nonetheless, if you happen to take a more in-depth take a look at the above four-hour chart, you possibly can see a major pullback on the POP coin’s path. The foremost retracement (greater than 90%) occurred after the preliminary pump, the place the token discovered help within the $0.00016-$0.00017 area.
It took numerous braveness to purchase the POP coin after such a pullback; nonetheless, many Moralis Cash customers had been courageous sufficient. In spite of everything, the on-chain momentum that was behind the preliminary worth spike made them imagine that the mission had strong potential. Those that entered the aforementioned area at the moment are sitting on spectacular income, greater than 3600%, to be extra particular.
After all, the journey to the present ranges ($0.006-ish) had two extra corrections. On the one hand, these pullbacks examined the conviction of patrons. However alternatively, they provided extra alternatives to get a bag of the POP coin at a reduction.
Value Prediction for the POP Token
Let’s begin by declaring that any meme coin worth predictions are pure hypothesis, particularly with new cash just like the POP token.
That mentioned, we’ve got some instruments we will use to mark sure costs as “extra seemingly.” As an example, charting essential ranges (as within the above picture) is likely one of the legitimate TA strategies. Nonetheless, all the present “important” ranges are beneath the present worth. As such, they will come to play if the token loses momentum. In that case, any of these worth ranges are potential worth predictions.
In case of one other pullback, the more than likely stage is the one at $0.0035-ish, because it marks the earlier native high.
How about worth targets to the upside?
For that objective, we will use the Fibonacci retracement software. In response to the final native high and the next native low, probably the most optimistic stage (the “4.236” extension) factors to $0.012-ish. We’d say that this worth goal is unquestionably inside POP’s attain.
So far as the extra “unique” predictions go, we will evaluate POP to a number of the main meme coin and even DeFi tasks. Because the POP crypto is shaping to be a kind of combination between a meme coin and a DeFi token, it additionally is sensible to check it with, for instance, Volt Inu.
So, allow us to take these mission’s ATH market caps and divide them by the POP coin’s whole provide:
- $0.1 – with reference to Volt Inu
- $1.65 – with reference to PEPE
- $43.51 – with reference to SHIB
- $75.26 – with reference to DOGE
Ought to You Purchase $POP or Transfer On?
Since we aren’t monetary advisors, we can not reply the above query. Nonetheless, utilizing the main points obtained all through the above part, you must already be capable to decide whether or not or not POP deserves your consideration. If sure, you must nonetheless DYOR (do your personal analysis).
Plus, if you happen to conclude that you simply wish to get a bag of $POP, you must be certain to get your timing proper!
Happily, you possibly can cowl each of those steps (researching and timing) in a single place. Specifically, on the Moralis Cash’s Proof of Pepe ($POP) token web page.
This web page gives all of the instruments and hyperlinks you might want to correctly analysis the token and the mission behind it. Because of the real-time, on-chain metrics for the POP coin, you’ll be capable to decide whether or not or not now’s the precise time to purchase. In spite of everything, on-chain exercise at all times precedes worth motion! So, through the use of insights into the on-chain momentum, you possibly can time your entries and exits much more successfully.
That mentioned, be certain to make use of the hyperlink above or the interactive widget beneath and do your factor.
If you happen to decide that now’s the precise time to purchase $POP, use the swap characteristic that you’ll find on the identical web page. The latter prioritizes security, worth effectivity, and user-friendliness, which makes Moralis Cash token pages top-of-the-line Ethereum swap websites on the market.
Be aware: In case you are new to swapping alts, use our step-by-step information that can present you methods to swap ERC-20 tokens.
Going Past the POP Coin – Discover the Greatest Altcoin Alternatives Immediately!
Final however not least, we ought to say the core Moralis Cash characteristic: Token Explorer. The latter allows you to spot one of the best altcoin alternatives at any given second. All it takes is so that you can apply numerous combos of easy filters.
That is how Moralis Cash customers, particularly those on the Starter and Professional plan, have been making life-changing positive aspects. With the Token Explorer characteristic, they get to search out up-and-coming crypto in addition to spot rising momentum in current tasks!
A few of the newest belongings that Moralis Cash customers had been recognizing embrace the MNT coin, MOG, HAMS, ARKM, Sam Altman’s WLD, and lots of others.
So, whether or not you resolve to purchase POP or not, you might want to remember that there are numerous different altcoins that you must think about. Particularly now that the following bull market is on the point of take off. In spite of everything, the typical altcoin tends to extend by 50-70x throughout the bull run!
What’s Proof of Pepe? Full POP Coin Value Evaluation – Abstract
The important thing takeaways of right this moment’s article embrace the next:
- The POP crypto mission is about extra than simply one other meme coin.
- On July 27, 2023, the PoP mainnet – the PEPE-powered L1 community – went dwell.
- POP goals to grow to be the go-to ecosystem for meme creations in Web3.
- This can be a new mission that must be approached with warning.
- The worth of the POP coin has already elevated by greater than 1000x however the asset market cap nonetheless sits very low.
- Earlier than shopping for $POP, be certain to analysis it additional utilizing the Moralis Cash token web page devoted to that crypto.
- Whether or not you purchase POP or not, be certain to go on a seek for different altcoin alternatives utilizing Moralis Cash’s core characteristic: Token Explorer.