24/7 Cryptocurrency News

Crypto Advocate Shares Scary Warning About Memecoins

Recently blooming memecoin PEPE has been making rounds but not without some daunting opinions from experts in the space
Published by
Crypto Advocate Shares Scary Warning About Memecoins

Recently blooming meme coin PEPE has been making rounds but not without some scary opinions. Crypto advocate Chris Blec made a tweet about the possible harm of investing in memecoins, including PEPE which he hinted could be a potential scam. He explained to his 48k Twitter followers that the memecoin may eventually cost people their lives if they are not careful.

“Coins like $PEPE don’t happen by accident. Big money, powerful people & careful planning goes into creating these scams. You’re just a pawn in a much bigger game. And games like this have cost many people their lives. Don’t be a fucking idiot,” he tried to clarify.

In response to his post, a Twitter user asked for the difference between PEPE and traditional finance TradFi and all Blec could itemize is the lack of regulation. 

Notably, Blec is not the first crypto expert that has warned the public about an impending collapse of the memecoins. Many are still in awe of how the coin is about to reach a $1 billion market capitalization in just a few weeks after it went live.

Advertisement

PEPE Outrageous Price Rally Pulls in Traders

Within the last two weeks, PEPE has gained up to 500% according to data from CoinGecko and is still shooting further. Only yesterday, the price of FLOKI jumped by 40% and PEPE skyrocketed by 60%. This price rally has caused a high volume of hype around the meme coin causing crypto exchanges like WazirX and Binance to list PEPE on their platforms. 

Global leading digital asset service provider Binance listed the memecoin together with FLOKI. On the other hand, the Indian crypto exchange CoinDCX wants nothing to do with PEP while citing high-risk factors. Investors seem to be paying more attention to the price rally than the sustainability of the uptrend.

Billy Markus, the creator of Dogecoin (DOGE) has not made an attempt to discourage PEPE investors even though he has not bought the much-hyped memecoin. Instead, he congratulated every investor who has made a profit so far from their PEPE trade. Also, he advised them to tuck away enough money as such short-term capital gains have tax implications.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks

Federal Reserve Bank of Dallas President Lorie Logan is the latest Fed official to share…

October 3, 2025
  • 24/7 Cryptocurrency News

Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury

Australia’s Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The Nasdaq-listed company…

October 3, 2025
  • 24/7 Cryptocurrency News

FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading

FG Nexus has announced that it will allow shareholders to convert common stock into tokenized…

October 2, 2025
  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025
  • Bitcoin News

Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months

Banking giant Citigroup has revised its Bitcoin prediction to $231,000 in the next 12 months,…

October 2, 2025