The Psychology of Meme Tokens: Why Investors Are Going Crazy for HedgeUp (HDUP), Pepe (PEPE), and Shiba Inu (SHIB)

Recent online analysis has revealed that investors are going crazy for HedgeUp (HDUP), Pepe (PEPE), and Shiba Inu (SHIB). This is interesting because HedgeUp has a completely different profile from Pepe and Shiba Inu (SHIB).

HedgeUp (HDUP) is a decentralized finance (DeFi) project. This means that it has real utility. On the other hand, Pepe and Shiba Inu are meme coins. Therefore, they have little to no utility. So why are investors accumulating meme coins on one hand and a utility token on the other?

Flying the meme coin flag high

When it comes to meme coins, Shiba Inu (SHIB) is second only to Dogecoin (DOGE). The token was launched in late 2020. It was inspired by a meme featuring a dog and has since managed to capture mainstream attention and investment money to become one of the most popular and valuable meme coins around.

Shiba Inu (SHIB) is currently trading at around $0.000008. It also has a market cap that occasionally crosses the $5 billion mark. This puts it in the Top 20 largest cryptocurrencies in the world.

Pepe (PEPE), on the other hand, is a relatively new meme coin. It was launched in April this year, taking inspiration from the popular Pepe the Frog meme. And within its incredibly short lifespan, the token managed to cross the $1 billion milestone in market cap and become a Top 100 cryptocurrency.

It has since lost more than half of this market cap. However, it remains a Top 100 cryptocurrency indicating strong investors in the token. This is despite the fact that it lacks utility and its value is purely based on speculation.

According to experts, meme coins like Shiba Inu (SHIB), Dogecoins (DOGE), and Pepe (PEPE) generate a lot of hype because a lot of buyers see them as a fun way to put money in crypto. And with this hype comes a rapid increase in value, which draws even more investors.

Investors also rushing to buy HedgeUp (HDUP)

On-chain analysis has also revealed a lot of investor interest directed at the HedgeUp presale. The token on sale, HDUP, has quickly sold out all its presale phases. It is currently halfway through stage four. Throughout the remainder of this phase, investors will have the opportunity to buy the token at a discounted $0.036.

HedgeUp (HDUP) will act as the governance and utility token of HedgeUp’s DeFi platform. This platform is a marketplace for NFTs backed by alternative assets. Here, investors will use HDUP to buy and sell these asset-backed NFTs. HedgeUp (HDUP) will also be used to pay for trading fees and holders will receive exclusive perks and benefits in the HedgeUp ecosystem.

Thanks to these, experts see a potential blue-chip token in HDUP. Some estimates have predicted that the token will gain more than 3,000% before the end of the year. This is why investors are also going for HedgeUp (HDUP).

For more information about HedgeUp (HDUP) presale use the links down below: