2023 is considered a year of recovery for the entire cryptocurrency market with the appearance of many outstanding projects with good growth. Among those outstanding projects, we must mention two notable projects: PepeCoin and ORDI, which have the best Roi level on the market. So, let’s find out what’s special about PepeCoin and ORDI in this article. .
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- Some roles of Meme in the Crypto market
- What is BRC 20? All you need to know about BRC 20
- What is Bitcoin Ordinals? Everything about Bitcoin Ordinals
Meme Tokens Still Bring Great Attraction to Investors
As of now, there is only nearly a month left until we enter the promising year 2024. Up to now, the market has gone through many different ups and downs, but in general this is considered a recovery period for the entire market with the appearance of different small trends such as: Memecoin, AI, LST, Gaming. , …. Having to name an outstanding project in the past year is truly difficult because each project in each segment has its own highlights.
But from the perspective of an investor and in terms of the ROI that projects bring in 2023, I found two projects that bring the largest ROI on the market: PepeCoin and ORDI with The growth rate is 375,000 times and nearly 20,000 times respectively and a special thing is that these two projects are essentially Memecoin.
As history has proven, Memecoin projects bring great profits to early investors but also bring great risks if they are in the distribution and price reduction period. A more dangerous thing that I have noticed in most Memecoin projects is that if a user accidentally “swings” the token at a high price, the chance of “returning” is very difficult and almost zero because I realize It’s seen that most Memecoin projects only promote once and often let the chart drift or abandon the project.
Although there are many dangers when investing in Memecoin, many investors are interested in this subject because it brings a relatively high ROI rate and brings a Meme culture that we cannot find in other countries. other projects on the market. Next, let’s learn in detail about Pepecoin and ORDI to see what’s special.
PepeCoin – Heir to Meme Culture
The success of “dog” Meme coins such as Shiba Inu or DogeCoin has made the market realize that MemeCoin has a unique role in the market. However, in a bear market, Shiba Inu or DogeCoin do not seem to receive much attention from the market.
PepeCoin – The successor to meme culture on the market
This year, images of sad frogs spread strongly in the Crypto market with everything from tokens to NFTs. But the most prominent and the one who started this trend is none other than PepeCoin.
PepeCoin’s official X account posted its first official tweet on April 5, 2023, and PEPE tokens were officially traded on the market starting on April 15, 2023. The initial price of PEPE is approximately 0.000000001 USD, with a total supply of 420.69 trillion.
PepeCoin also claims to be “the most followed meme coin today. Dogecoin is outdated and it’s time for PepeCoin to dominate. The two numbers “420” and “69” in its 420.69 trillion supply are also meme numbers have subcultural properties. It can be said that PepeCoin’s popularity cannot be separated from the previous cultural beacon of the “Sad Frog” emoticon package as well as the rich imagination that many previous Memecoin projects have brought to the market.
In just one month since its founding in late April 2023, PepeCoin’s market capitalization has reached a staggering 1.5B USD with 24-hour trading volume exceeding 1.7B USD at its peak. To imagine how great its fomo power was, PepeCoin’s trading volume at that time was sometimes comparable to Bitcoin’s Spot trading volume on some major Cex exchanges in the market.
ORDI – First BRC 20 Token But Works Like A Genuine MemeCoin
Unlike PepeCoin, which has placed itself on the path of Meme culture from the beginning, ORDI – the first BRC 20 token on the Bitcoin ecosystem has acted as a genuine Memecoin and has become extremely prominent in recent times. This.
ORDI’s story began in December 2022 when Bitcoin ecosystem developer Casey launched the Ordinals protocol as a testbed for NFT creation on the Bitcoin blockchain. On March 8, 2023, an anonymous developer named Domo launched the BRC-20 recording protocol based on the Ordinals protocol and implemented the ORDI test token.
On March 9, 2023, the first ORDI tokens were minted at a mint price of 2 – 3 USD for 1,000 ORDI Tokens, meaning the price for each ORDI token at that time was 0.003 USD. Current ORDI price is 54 USD. This shows that over the past 9 months, the ORDI token has increased nearly 20,000 times.
Impressive growth of ORDI token
After nearly a year since its launch, looking back now, the ORDI token is truly the most successful of many experiments in the Bitcoin ecosystem. However, what people don’t know is that ORDI’s path to its current success is actually not smooth.
Bitcoin has long been seen solely as a store of value and a currency in peer-to-peer transactions, as developers began conducting the first tests in issuing assets on the Bitcoin network. This was met with many criticisms and at that time no investor believed that Bitcoin Ordinals projects like ORDI could be successful and bring such great attraction.
On March 23, 2023, Unisat launched the first BRC 20 trading market and caused the ORDI token price to increase by 0.3 USD. But then due to a problem related to double spending that caused users to pay double gas fees to buy and sell BRC 20 tokens, Unisat closed this trading market. A month later, Unisat made modifications and reopened the BRC 20 Marketplace to only a few users. This continues to cause ORDI price to increase by 1 USD.
Everyone seems to be realizing the future expectations for BRC 20 as a new method of asset issuance on the Bitcoin blockchain. For new things, investors who know how to seize opportunities will be the winners.
With the participation of more and more mainstream platforms, BRC 20 is receiving more and more attention and promises to catch a boom in the near future. On April 27, 2023, OKX began voting on whether to support BRC 20 or not and received a majority of yes responses, raising expectations to see the appearance of BRC 20 Marketplace on OKX.
In May 2023, BRC 20’s Fomo peaked at which the price of the ORDI token once exceeded 20 USD, reaching a new record. At that time, handling fees, also known as transaction processing fees, accounted for 43.7% of miners’ total revenue. But then we saw a general collapse and downturn of the entire market that caused the price of ORDI to plummet to just $7.5 USD.
During this time, the Bitcoin ecosystem did not have any significant progress or breakthroughs, most people in the market were skeptical about Bitcoin Inscriptions which had become popular in the past few months. In September 2023, some users also had problems with the withdrawal of ORDI from OKX, making users unhappy. At that time, the overall trading volume of Bitcoin Ordinals had dropped 97% compared to previous months and many people were skeptical that the experiment of issuing assets on the Bitcoin blockchain was over?
It was not until Unisat launched brc20-Swap on October 18, 2023 and reported that Elon Musk accidentally advertised BRC 20 in a postcast, which made the BRC 20 market hot again. On November 7, 2023, Binance announced the ORDI listing and since then we have witnessed its dominance in the market. ORDI price continuously creates new peaks and is the first BRC 20 token to reach a capitalization of over 1B USD.
During these 270 days, ORDI price ranged from 0.003 USD to 54 USD. But in the process, ORDI has gone through a lot of ups and downs from skepticism to now being the top 20 BRC token. Even Bitcoin Ordinals founder Casey expressed his views on ORDI when the token was listed on Binance.
From PepeCoin to ORDI, we see Binance is still a destination to help these tokens explode and receive more attention from the investor community in the Crypto market. Listing on Binance has become the key to determining whether a token can be pumped or not, and it is also the most popular marketing method for a Memecoin project.
summary
PepeCoin and ORDI have created a new trend for 2023 across the entire market. Above is all the information that I want to introduce to everyone in this article. I hope everyone has received useful knowledge.
