In the past few days, one new meme coin is creating a lot of hype in the crypto industry, outpacing all other meme coins. The newbie, Pepe Coin (PEPE), has given its early investors a whooping 500% ROI in just a few days of its initial listing on CoinMarketCap.
As the crypto market continues to expand in unexpected ways, meme coins like Dogecoin, Shiba Inu, and now Pepe coin are gaining pace and attracting the interest of both investors and fans. In this article, we’ll look at the history of Pepe Coin, its connection to the popular Pepe meme, and why it matters in today’s volatile cryptocurrency market.
Pepe Coin: The Dogecoin & Shiba Inu Killer
It is a brand-new meme coin that features everyone’s favorite sad frog. Pepe crypto leverages the widespread appeal of meme culture by merging blockchain technology with the infectious appeal of the Pepe the Frog meme. With the goal of offering a unique and unparalleled user experience to its holders.
The Pepe coin was inspired by the popular Pepe the Frog meme. Originally, Pepe the Frog was designed by artist Matt Furie. And it quickly garnered enormous popularity on numerous internet platforms, eventually becoming a symbol for Internet culture.
Pepe coin embraces the essence of online communities and taps into the collective power of internet culture. This was accomplished by linking the Pepe the Frog meme with cryptocurrency. This provides the users with a humorous and engaging digital currency.
How Does Pepe Coin Works?
Unlike previous meme coins entries, not much information regarding Pepe’s true workings has been disclosed at this moment. However, there are a few things we do know.
To begin, Pepe incorporates a redistribution system that benefits long-term investors. Furthermore, despite a maximum supply of over 420 trillion coins, the Pepe Coin maintains scarcity by burning tokens on a regular basis.
In a nutshell, the system advertises itself on Twitter and other places. In order to bring together fans of the renowned meme frog around the token. Its developers have indicated that they believe Pepe will sustain this meme coin. And that the underlying fundamentals are secondary.
Furthermore, the project’s “no taxes” policy eliminates the need for excessive gas fees when trading for PEPE coins. For the Pepe meme coin, the byword is “no taxes, no bullshit.” The only time a user might desire or need to be charged these costs is if they have excessive network usage.
Pepe Coin Tokenomics
PEPE, spelled in all caps to differentiate it from the infamous Pepe meme. It is the native token of the upcoming Pepe Network. The PEPE coin can be used as a souvenir or a present. In addition, it can also be used as an investment in the expectation that its value would rise.
The token has a maximum supply of 420,690,000,000,000 coins, in keeping with Pepe’s concentration on memes. This cap was chosen because it playfully incorporates “420,” also known as “the weed number.” And “69,” also known as “the s#x number.”
Unlike other coins, which allocated a significant portion to early investors or development teams, Pepe tokens were dispersed differently. With 93.1% distributed to the Liquidity Pool and 6.9% allocated to a multi-sig wallet held by the development team. The latter amount has been reserved for future exchanges, community partnerships, promotions, and similar purposes.
In contrast to other types of cryptocurrency (and even previous entries in this industry), the PEPE meme coin is light on fundamentals. Since its introduction a week ago, the emphasis has been on the coin’s existence rather than on ensuring its core principles are good.
Pepe Coin Roadmap
PEPE’s road map is divided into three phases. The first of these, “Meme,” has already been completed. Coins have been stealth-dropped, memes regarding the coin have been released on Twitter, and coins may now be traded on multiple major exchanges. The coin also exceeded its phase-one target of 1,000 holders.
At the moment, phase two — dubbed “Vibe and HODL” — is in the works, with certain sections already completed. This phase entails forming community alliances, listing on centralized exchanges, and establishing a newsletter. As well as an exclusive Discord channel for token holders. The target of 10,000 holders has also been met.
The third phase of the plan entails the launch of Pepe Tools and Pepe Academy (neither of which has yet to be detailed) and listing on Tier One exchanges. And the release of products that participates in the “buy and burn” scheme. The goal for phase three is to gain 100,000 holders and eventually overtake Bitcoin as the market leader.
Is Pepe Coin a Good Investment?
On the one hand, the official website of PEPE proclaims that it is not an investment opportunity and was designed solely for the purpose of enjoyment. And on the other hand, its value has risen since its debut, and many early investors have already profited significantly.
To be sure, several meme coins have proven to be even more volatile than other types of cryptocurrency. And there’s no assurance that the PEPE coin’s price will continue to rise. However, with over 25,000 holders in its first week of operation, Pepe appears to be here to stay.
Conclusion
Although the PEPE meme coin’s creators did not intend it to be a serious offering, its early success has been undeniable. Since the infamous Pepe meme is still going strong after 18 years. It stands to reason that a meme coin paying homage to it would be successful as well. Even though it is impossible to predict the future, the PEPE appears to have more staying power than most other meme coins.
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