Top 5 altcoins to watch in May 2023

With the month of May already unfolding, the cryptocurrency market is trading in a relatively choppy trend, taking the cue from the flagship decentralized finance (DeFi) asset – Bitcoin (BTC) – and some altcoins are performing better than others.

Timeline of Elrond-egld, Arbi-pepe, Render-token, Stacks, Vechain

Meme coins are rallying once more with 1,000% increases in a matter of hours now becoming the order of the day. With so many new meme coins performing well in the market, it is starting to look like a repeat of the infamous 2021 meme coin season.

The PEPE (CRYPTO: PEPE) token, inspired by the "Pepe the Frog" meme, has soared to a $502 million market cap after a staggering 2,100% increase since its launch last month. Data from Ethereum block explorer Etherscan revealed that PEPE has around 75,000 holders, with some wallets holding over $5 million worth of tokens, not including centralized exchanges.

David Gokhshtein, the founder of Gokhshtein Media, has highlighted a mysterious shift in the meme coin economy. He noted that Shiba Inu positions are currently being swapped for Pepe (PEPE), the latest meme coin sensation based on the infamous Pepe the Frog meme.

Former CEO of BitMEX Arthur Hayes welcomed the addition of PEPE Coin futures on the exchange in a recent tweet. Starting from May 3, 2023, BitMEX traders will have access to two new listings, PEPEUSD and PEPEUSDT, which will enable them to long or short PEPE.

Pepe coin, the meme cryptocurrency based on the popular internet meme, has become the newest sensation across crypto. Although it has made early buyers extremely happy – and extremely wealthy – it could soon leave many holders feeling flattened due to a possible 80% correction.

PEPE, the popular meme coin, has recently been listed on OKX, a major cryptocurrency exchange. This move has generated excitement among investors who believe that the coin has the potential to become a major player in the crypto market and the meme coin sector.

Cryptocurrency exchange OKX has announced the listing of Pepe (PEPE), a memecoin inspired by the popular internet meme “Pepe the Frog.” The exchange began trading Pepe on May 1, with withdrawals opening on May 2.

The meme coin economy has a new player that has made a splash in the world of cryptocurrencies. In two weeks since its launch, the Pepe token ($PEPE) has scaled the crypto charts, securing its spot as the 98th most valuable cryptocurrency with a market capitalization of around $451.38 million.

With meme coin season upon us, everyone is gushing over controversial PEPE like they did with Dogecoin (DOGE) and others in the past. Despite its dark past and controversy, the success of the meme token featuring the famous Pepe the Frog has spawned a new narrative of "frog" tokens.

In a recent incident, a trader reportedly lost around $300,000 worth of PEPE tokens while attempting to execute a swap using MetaMask's swap function. The trader committed a significant oversight by setting an excessively high slippage tolerance, which resulted in a substantial financial loss.