Many investors are looking for big opportunities to “change their lives” in the cryptocurrency market, and for some, that opportunity lies in memecoins – a type of humorous cryptocurrency, created primarily for teasing purposes. One of the tokens that has shined recently is Pepe Coin (PEPE). But exactly what is PEPE coin? Why is it hot among thousands of different memecoins? What drives its growth? Is it sustainable or just a scam project? Let’s find out in detail in the content of the article below.
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What is PEPE coin, and should you invest in it?
What is PEPE coin?
PEPE Coin is a new memecoin created on the Ethereum network, inspired by the famous internet meme, the green frog named PEPE. The PEPE coin is also specifically introduced on its website as follows: PEPE is a memecoin with no intrinsic value or expectations of financial returns. There is no official team or roadmap. The coin is completely useless and only meant for entertainment purposes.
The main slogan of PEPE coin is: “The era of the dogs is over. The era of PEPE has arrived. PEPE is the memecoin that embodies the spirit of memes the most.” That is, PEPE coin will end the dominance of dog-themed memecoins.
$PEPE World Order pic.twitter.com/jQyNxtf0GO
— Pepe (@pepecoineth) April 15, 2023
PEPE was officially launched on April 16th. And just after a few days, it recorded a staggering growth of up to 21,000%. PEPE also began to create a buzz on social media when a cryptocurrency investor reported exchanging 0.125 ETH, worth $250, for 5.9 trillion PEPE tokens. Subsequently, those tokens were valued at over $5 million.
PEPE Coin – From a MEME to “Going Viral” in the Crypto World
So, you now understand what is PEPE coin? But do you really know where it originated from? Why this meme became so beloved and continues to garner the attention of people everywhere.
It all started many years ago when artist Matt Furie was drawing frogs for fun while working at a thrift store in San Francisco in his early twenties. He created a small comic series called Playtime and named his character PEPE.
Gradually, he came up with another famous comic series named Boys Club based on Matt and his friends, but featuring the Frog PEPE character along with some other animal sidekicks.
From there, it seems Furie actively started posting his comics on the social media platform MySpace. And surprisingly, the series went “viral” very quickly, especially the image of Frog PEPE peeing his pants, accompanied by the caption “feels good man”.
Interestingly, “Feels Good Man” turned into a meme afterward. Many people would use the frog meme + “Feels Good Man” when expressing satisfaction about something. This happened back in 2008, before BTC even existed, when people commonly used this meme and attached it to the name of a particular stock.
In the following years, the Pepe the Frog meme became an internet sensation. Users started using the PEPE frog image to express a wider range of emotions. A collection of Pepe the Frog such as “Sad Frog,” “Smug Frog,” “Angry Pepe,” “Feels Frog,”… came into existence and became famous across most social media channels.
But it didn’t stop at being a meme. PEPE became an icon. PEPE also became the face for MAGA, Trump’s 2016 campaign. Even Donald himself tweeted an image of himself as Pepe during the campaign, enough to show how much appeal this Frog PEPE had.
And when cryptocurrencies came along with a meme craze, PEPE couldn’t be missed. On crypto discussion forums, the PEPE meme was a constant presence. In fact, many decided to publish these images as NFTs operating on the blockchain. Then came the birth of coins linked to PEPE, such as Feels Good Man (FGM), and notably PEPE coin – the main character of this article.
Important Information About PEPE Coin
Now you understand what is PEPE coin, as well as its origins. However, if you want to consider whether or not to buy PEPE coin, you need to be well-versed with some basic information about it. In fact, there is nothing complicated about PEPE coin, so I will summarize it in the simplest way.
How many PEPE coins are there in total?
PEPE has a total of 420,690,000,000,000 tokens. It operates on the principle of “No Taxes, No Bullshit” which simplifies its value proposition.
Why this number? The number itself shows respect to popular meme figures like 4:20 and 69. To clarify, 4/20 refers to the slang for communal “smoke weed.”
93.1% of PEPE tokens have been moved to the liquidity pool. The remaining 6.9% will be locked in a multi-signature wallet controlled by the team to be used for future decentralized liquidity pool establishment, bridging, and exchange listings. This wallet is named ENS “pepecexwallet.eth” to make tracking the location of this wallet simple. The developers of PEPE have no control over the smart contract governing the token, and the PEPE token quantity representing this ownership has been destroyed.
What are PEPE Tokens used for?
PEPE tokens have no utility whatsoever. This has been clearly stated on their official website. It is simply a speculative product/store of value, and its value will be influenced by market sentiment and the hype of the community.
How many people hold PEPE tokens?
At the time of writing, there are more than 130.000 PEPE token holders. This number has surpassed the initial plan set by PEPE coin.
You can check this data at: https://coinmarketcap.com/currencies/pepe/holders/
Who is the founding team behind PEPE Coin?
There is no information about the founding team of PEPE coin. The developers of PEPE are anonymous and have also relinquished control of the contract. However, they still actively update information on the Website and social media channels.
Therefore, currently, PEPE “can” be considered a community project.
What is the roadmap for PEPE Coin?
The initial roadmap for PEPE coin was to have over 1000+ MEME token holders and to become viral on social media. However, it quickly exceeded this roadmap just days after its launch.
Initially, it seems the roadmap was set just for fun. But now, it seems PEPE is about to complete Phase 2 and is heading towards Phase 3. It’s a development that probably even its creators did not anticipate.
What are the community channels for PEPE?
The community is the core of any project, whether they have a solid foundation or not. And in the case of PEPE, it also plays a significant role. Although PEPE is also supported by some members of BAYC, over time, it has built a very large fan base. This explains the recent increase in its daily trading volume, which has sometimes exceeded a billion dollars. This increase in trading volume is a sign of a growing community that includes day traders as well as active investors.
You can refer to their community channels, their information at:
- Website: https://www.pepe.vip/
- Twitter: https://twitter.com/pepecoineth
- Discord: https://discord.com/invite/pepe-palace
- Telegram: https://t.me/pepecoineth
PEPE Coin – Should You BUY to Seek a “Life-Changing” Opportunity?
What is PEPE coin? A meme coin that once again shows us how “crazy” the cryptocurrency market can be, just needing crowd support.
Pepe Coin has made an impressive stride into the crypto world, propelled by its association with a popular internet meme and its recent price surges. However, as a meme-based cryptocurrency, its growth potential is uncertain and, as usual, it should be approached with caution.
(1) Investing in meme coins is always very risky, especially with a “valueless” project like PEPE. The well-known analyst Altcoin Sherpa has used his Twitter to warn traders who are currently accumulating PEPE coins that the price increase is likely only short-term, so traders should not lose potential with this coin. Instead, if one wants to invest seriously, there are more sensible choices available, with Ethereum being one example.
(2) Should you FOMO into buying PEPE coin? The first price increase for PEPE was driven by hype, going viral when it outpaced other dog-themed coins. There is a number of wallets holding a large amount of PEPE coin from the early days, possibly linked to the project creators, because on closer inspection, these wallet addresses had no transaction activity before receiving PEPE. This could lead us to face the risk of a dump if we just blindly follow FOMO.
(3) Regarding the question of whether PEPE is a good investment, it depends on whether you are looking for short-term or long-term returns. My opinion is that if you like and are excited about PEPE, you should buy it, with a VERY SMALL amount of capital, keep it safely and forget about it for – say – five years or more. Who knows, maybe during an uptrend or “miracle,” your assets could increase fivefold or tenfold?
(4) The possibility of PEPE overtaking Dogecoin remains uncertain, as predicting the future of cryptocurrencies is notoriously difficult. Considering the unexpected rise of Dogecoin and Shiba Inu in the past, it’s not implausible to think PEPE could experience a similar surge. At present, PEPE is 42nd in market capitalization, trailing behind Dogecoin at 8th and Shiba Inu at 15th. Dogecoin’s strong position, bolstered by support from celebrity Elon Musk and the popularity of dog-themed memes, makes it a formidable competitor. However, in a more optimistic scenario, if an influential figure like Musk were to endorse PEPE, it might climb into the top 20, though this remains purely speculative.
In Summary:
If you are a fan of meme coins and don’t want to miss out on the allure of the incoming meme wave, PEPE could be the lottery ticket for you. With its humorous, carefree, simple, and friendly approach, PEPE is certainly one of the most interesting coins right now. PEPE’s purpose is to bring joy to everyone, and it has succeeded. So, I hope you also view PEPE coin with such a mindset. Never put speculative psychology heavy on PEPE coin. In the world of cryptocurrency, Pepe may be the meme king, but you are still the one who makes your own investment decisions. I wish for the meme coins to always be joyful and booming, and I also wish that you make a reasonable profit with meme coins.
Invest286.com
