![]() It surpassed its $1 billion market capitalization in a very short span of just 20 days. PEPE entered like a boom in the crypto world and has shook the meme coin world totally by surprise. Twitter What Caused a Sudden Rise in PEPE Coin? In just a few days of its launch, PEPE already has more than 290,000 followers on Twitter. The information about the team and its creators is scarce, but PEPE has successfully reaped a lot of attention via social media platforms such as Twitter and Telegram, and within no time could foster a community around the meme coin. All that we know, PEPE was launched towards the middle of April 2023. It is to be noted that PEPE has no connection to the main creator of PEPE the Frog meme, Matt Furie, rather the identity of its creators is still unknown. It did not use any of the methods such as initial coin offering (ICO), presale or airdrop to distribute its tokens rather entirely dependent on the popularity of PEPE the Frog meme, to gain interest from the potential investors. ![]() The way PEPE has come to existence is still unknown. Source: CoinMarketCap (As on May 25, 2023) Moreover, it uses a redistribution system in which a portion of every transaction is shared amongst the existing token holders which helps them to gather user engagement and long-term investments. This mechanism helps to create scarcity and also increase the value of the left tokens over a period of time. PEPE Coin uses a deflationary mechanism in which a small percentage of tokens gets burnt with each transaction. That’s why PEPE coin is much like Doegcoin and Shiba Inu, the only difference is that the latter are dog-based coins and PEPE is a frog-based one. On the contrary, PEPE has been designed to capitalize on the popularity of meme coins such as Dogecoin, Shiba Inu and others. The coin is completely useless and for entertainment purposes only.” ![]() PEPE coin first started trading on Apat a price of around $0.000000001 and now one PEPE coin is equivalent to $ 0.0000014, at the time of writing.Īccording to PEPE’s official website, “PEPE is a meme coin with no intrinsic value or expectation of financial return. It has been just casually created as a tribute to popular internet meme character known as “PEPE the Frog” which gained popularity in the early 2000s.Įven with no fundamentals, PEPE has been able to enter the top 100 cryptocurrencies by market cap in just two weeks of its launch and presently ranking at number 70 position as per crypto website CoinMarketCap. PEPE coin does not have a formal team or any roadmap. In fact, it is regarded as the most “memeable” meme coin built on the Ethereum blockchain and works as an ERC token. PEPE coin is just like another meme coin which does not hold any fundamental and intrinsic value and has no utility. What is a PEPE Coin and How Does it Work? Let’s dig deep into how this frog-faced “PEPE” has become the talk of the town within no time and how it entered the market’s top 100 cryptocurrencies, soaring overnight. Currently, PEPE coin has a market capitalization of over $5 billion, which it hit in just a month of its launch. So, if you are a fan of meme coins, then you may not want to miss out on the newly-launched “PEPE” coin, which has set up an unprecedented example by witnessing a crazy rally of almost 7,000% since its launch in April 2023. Meme coins are best known in the crypto market to lift up the mood and sentiment of the investors especially when the overall market is a bit choppy or moving sideways.
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