The cryptocurrency world has gone crazy again. New investors are making a lot of money, and old investors are shaking their heads. How can the market be pulled up like this? Is this still the cryptocurrency world? The last time it went crazy was due to shitcoins. Shib increased 280,000 times in a year, Akita dog coin AKITA increased 840 times, and pig coin PIG increased 656 times. KISHU increased 61 times. This has already opened the eyes of people in the cryptocurrency world. Unexpectedly, two years later, something even crazier than shitcoins has come again, that is pepe the frog.
300,000 times in 20 days, 100u investment becomes 30 million US dollars, worth 210 million. What kind of investment has such a high rate of return, only in the cryptocurrency circle. In 20 days, the shitcoin has gone through a year. You tell me that the top public chains, top institutions, and top technologies are all released to fool investors' money. It's better to invest in a meme.
The emergence of Pepe the Frog once again witnessed the glory of the cryptocurrency circle, and also proved the saying that the best marketing method in the cryptocurrency circle is to pull up the price.
In ancient times, there was dogecoin, before that there was shitcoin, and now there is pepecoin! I wonder if there will be a coin that surpasses pepe in the next few years.
You may ask what pepe coins are used for, I don’t know what pepe coins are used for…
However, the myths of getting rich quickly continue to appear, making it difficult for some old investors who are studying value investing to do so.
You understand technology, you have extensive resources, and you have money, but you are not as brave as the newbies in PEPE who dare to go all in at 20U.
Digging deeper into the background of this project, fans can take a look at
introduce
Pepe is one of the newest meme coins on the market. It is named "Pepe" and is inspired by "Pepe the Frog" which became popular in the 2010s. "Pepe the Frog" is a cartoon character and internet meme created by cartoonist Matt Furie. Pepe is designed as a green anthropomorphic frog with a humanoid body and originated from Matt Furie's 2005 comic book "Boys Club". In 2008, the character became a meme on the Internet when his popularity steadily grew on websites such as Myspace, Gaia Online, and 4chan. By 2015, he had become one of the most popular memes on 4chan and Tumblr. Different types of pepe memes include "Sad Frog", "Smug Frog", "Angry Pepe", "Feeling Frog", and "You'll Never..." Frog. Since 2014, "rare pepes" have been posted on the "meme market" as if they were trading cards.
After Pepe was launched on April 16, 2023, its market value has grown to around $500 million. After the token became popular recently, 74,963 people currently own this token (the number of owners is increasing over time), and the price reached a high of $0.0000011736 at the time of writing this article (May 2, 2023).
Token Economics
The circulating supply of meme is 420,690,000,000,000 (420 trillion), of which 93.1% of the tokens are sent to the liquidity pool, LP tokens are burned, and the contract is abandoned. The remaining 6.9% of the tokens are kept in a multi-signature wallet, which is only used as a token for future centralized exchange listings, bridges, and liquidity pools. This wallet is easily traceable and its ENS name is "peacexwallet.eth".
team
On the PEPE official website https://www.pepe.vip/, there is not much information about the team developing this project, unless someone from the project jumps out to talk about it, no one knows who they are at the moment.
The official website states that the PEPE token has no connection to Matt Furie or his creation Pepe the Frog. This token is simply a tribute to a meme that we all love and recognize.
PEPE is a commemorative coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and is for entertainment purposes only.
potential risks
Although the number of token users and the price of the token have grown very rapidly, the project still has many risks:
1. The most basic items such as the roadmap, team introduction, and the technology behind the token are not clearly stated. Investors do not really know what they are buying except for the name of the token. As of now, it is just created for hype and has no real value.
2. As mentioned earlier, the team behind the project is completely anonymous and only appeared on Twitter a few days before the launch.
3. The token is still very centralized. A few large wallets control a large part of the entire liquidity pool. If they choose to sell instantly, the liquidity of the token will be drained instantly, causing a sharp drop.
From the overall situation of pepe, the risks are obvious, but putting aside the risks, this project still has many highlights. First of all, the token distribution is relatively fair and reasonable. Most of the tokens are directly put into the liquidity pool. Secondly, pepe is a brand-new meme image. Before this, most of them were dog images. Of course, there were also some pigs and the like, but pepe has the community cultural foundation of "Pepe the Frog", which is not available in other meme coins. In terms of these two points, pepe has the potential to grow into the next shib. Like shib, pepe has a strong community foundation and a strong wealth-making effect. The only disadvantage is that pepe has not yet been tested by the bear market. If pepe can survive the bear market in the second half of this year, the market value of dogecoin and shib in the next bull market will be very large. There are very few meme coins to choose from on the market, and the wealth-making effect of meme coins has been deeply rooted in the currency circle. Pepe has the opportunity to become the biggest meme coin winner in the next bull market. Of course, the premise of all this is that pepe can survive the plunge before the bull market.
Pepe has also become popular. With the launch of Binance, the opportunity for big investors to cash out has also arrived. It depends on whether more retail investors can be called on board. Is the risk high now? Of course it is high. It depends on whether the big investors have completed the turnover. Launching on Binance is a good opportunity to cash out. Let's see whether the trend of Shitcoin being listed on Binance will be replicated next.
