A frog-themed digital token that’s only been around for a month may be signaling pain ahead for Bitcoin bulls.
Trading in memecoins — crypto assets that can be inspired by viral images and memes and attract loyal social-media communities but otherwise lack in inherent utility — soared in recent days. Leading the pack was Pepe, a newfangled amphibian-themed token, which sparked frenzied speculation and spawned many copycats ever since its birth in April.
