When PEPE CASH soared this week, I saw it temporarily beat out my favorite coins such as BURST and NAV. It is still beating out Chronobank which is an ICO I made a video about.
To many people they may find this surprising, but I personally do not because I have learned crypto-people mentalities from the last two years of reading community articles and observing their behavior. Cryptocurrency people are often attracted to new and funny things. Dogecoin is the oldest example of this. When I saw PEPE CASH which is a collectible card token, I realized it would be another fad and I bought $20 worth (6,800 PEPE CASH.) Then because there would be demand for these tokens, I realized there would be a supply shortage and the price would skyrocket.
What happens often in crypto is that joke coins can gain some initial attraction, then as people flock to the fun, their valuation goes beyond their actual worth. When this happens people incorrectly take a coin more seriously than they once did and often this will attract even more investment when it should not. All this market movement into a coin changes market behaviors and incentives, often causing that non-serious coin to become serious in actuality. This means PEPE CASH could actually transition from being a joke to something more serious because now the holders of PEPE CASH are sitting on real cash. This gives them an incentive to try to propel the platform to the next level. Doge demonstrated the next-level back in the day when they sponsored their own NASCAR. What will PEPE CASH do? I do not know, but I plan on holding mine for the ride.
Some people may find this phenomena frustrating. "Why is that piece of junk coin beating my real investment?" This is how crypto works. Ultimately, a coin or token has to be used by someone for something. A joke coin with a use case in some ways is better than a lot of serious coins that have a few investors but no use case. If people realized this, their strategies in the crypto space would change. I often scratch my head at larger projects that are very esoteric in their decisions but lack any practical application where real world users would use their product.
Steemit is the great balance, I think, where a serious coin has a real world use that people can use today, not 10 years from now.
What do you think will happen with PEPE CASH?
Genesis Mining: https://www.genesis-mining.com/a/715619
Discount Code: 6EFDl3
Follow me on Steemit: https://steemit.com/@crypto-investor
Despite "talking your book" on Pepe Cash, I still maintain that you are an up-and-coming analyst with a head for numbers and a heart for Jesus. Nor can I ignore there's a Michigan connection.
And your favorite coins seem to be a couple of long-shots that anyone could still easily accumulate. BURST seems to have a community going but the Web Site has always been a little glitchy for me. There's diligence still due to be done.
Ya to me, those coins are like penny stocks. They have the bubbles and the large amounts of day trades. Then you have your real stocks. Like the coins that matter that are more stable even though they still do have their ups and downs. Thanks for posting as always. Wish you the best yo
I knew i should have bought this when i first saw it , now 10x later ..
Yeah, it makes me think... why didn't I just buy more of it? I knew it would go up, but I only bought $20??? I was not thinking straight. :)
Youre laughing now but when youre living in the United States of Pepe with President Pepe on the back of your official Pepe dollars you might think otherwise. All in!