Initially launched as a meme token inspired by the popular Pepe the Frog meme, PepeCoin has quickly gained attention as a serious investment opportunity due to its impressive growth in value over the past few weeks.
In just two weeks, its value has increased by over 1000%, from around $0.0001 to over $0.0014, making it one of the most talked-about cryptocurrencies in the market with a market capitalization exceeding $200 million.
Pepe Coin’s unique selling point is its growing community of investors, traders, and enthusiasts, who have driven up its demand and value. As a result, it has become a hot topic in the crypto world, and investors are keeping a close eye on its future potential.
The official Twitter account for Pepe Coin describes the token as the “most memeable memecoin in existence,” and says the “dogs have had their day,” alluding to a prior generation of memecoins, such as Dogecoin and Shiba Inu.
Pepe Coin’s debut was held with minimal pomp and circumstance. A notable facet of the coin’s subversive credentials is that its circulating supply amounts to 420m, which is a cannabis reference. The term “4/20” refers to April 20th, which is an informal holiday for marijuana enthusiasts around the world. On this day, people gather to consume cannabis, advocate for its legalization, and celebrate its perceived benefits.
Pepe the Frog
Pepe originated from a cartoon character created by Matt Furie in 2005 and gained popularity as a meme on lesser-known online social media platforms like 4chan.
Nonetheless, the meme received negative attention when it was adopted by the alt-right during Donald Trump’s presidential campaign, resulting in its classification as a hate symbol by the Anti-Defamation League.
According to PEPE’s official Twitter account, the token is the most memorable memecoin currently available, and it suggests that previous generations of memecoins, such as the previously popular Dogecoin, have had their moment in the spotlight.
PEPE, which was launched on April 17, is a cryptocurrency based on the Pepe the Frog meme. Originally created in 2005 by Matt Furie, the meme has been associated with various trends, including the alt-right political movement.
It’s worth noting that PEPE, along with other tokens based on Pepe the Frog, has no official connection to Furie or the original cartoon character. The launch of PEPE was relatively low-key.
Future of PEPE
The future of PEPE remains uncertain following its recent launch. While some experts, such as James Wo of crypto fund DFG, believe that meme coins like PEPE will continue to emerge, others predict that they may meet the same fate as other short-lived meme coins. Examples of such meme coins include Grimacecoin and Pump Coin, among others.
The question for investors, including the holder of almost 6 trillion PEPE, is whether they can profit from the token before the crypto community moves on to other investments.
Meme coins are a type of cryptocurrency that was created as a joke, but some have achieved significant market capitalization and have even received celebrity endorsements. However, despite their popularity, most meme coins lack any real underlying value or use cases. They are typically purchased by investors for entertainment value or to be part of a community, and their value is largely dependent on the popularity of the viral concept that they have centered around.
According to Bryan Hernandez, co-founder of Structure.fi, meme coins are designed similarly to other cryptocurrencies like Bitcoin and Ethereum, with the key difference being their focus on a humorous or viral idea.