Crypto Is Like The Frog Says Steve Hanke Is He Dragging PEPE Meme Coin Holders?

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Youri Molchan

A Prominent Economist Compared Crypto To A Frog, Here’s What He Meant By That

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Did Hanke allude to PEPE? Smart Money Whales are after PEPE

A major economist at Johns Hopkins University and a persistent critic of Bitcoin and crypto in general, Steve Hanke, has once again taken the time to critique crypto via his Twitter account.

This time, he compared him and crypto investors to a frog and a princess who wants to kiss, expecting her to turn into a handsome prince. No matter how you embrace this crypto frog, however, the economist added, it won’t become a prince.

In March this year, Professor Hanke tweeted that there are three things that prove it is not a currency for him but a highly speculative asset. These are unreliability, lack of stability and vulnerability to fraud. These factors will continue to plague Bitcoin, Hanke believes.

Did Hanke allude to PEPE?

Curiously, comparing the crypto to a frog clicks associations with the new cryptocurrency based on the Internet meme Pepe the Frog PEPE. It was launched in April this year and has already become a popular trend. Over the past few days, PEPE has demonstrated massive price jumps.

Earlier today, it was up over 51%, according to CoinMarketCap. At the moment, PEPE is trading at $0.000001657 and showing an increase of more than 71%.

Smart Money whales are after PEPE

Recently, PEPE surpassed the original meme coin DOGE (although based on a dog meme, unlike PEPE) in daily trading volume and scored listings on several major crypto exchanges. Rumor has it that support for frog-themed meme coins is also about to be added by Coinbase.

In the meantime, Smart Money wallets have started to hunt for PEPE. This data was provided by the @lookonchain analytics account. According to him, an early investor in SHIB, who owns over 92 billion Shiba Inu (and earned about $2 million on it) bought 72.83 billion PEPE with 19 ETH worth $36,415. .

That PEPE amount is now valued at $95,610, per @lookonchain. Another whale, according to the same source, also bought nearly 2 trillion PEPE earlier today.

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