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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. 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. On X (formerly Twitter), the team came clear on what happened, but the token’s value only recovered with another announcement made in October.
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Patrick McGimpsey is a freelance writer passionate about crypto and its impact on the financial world. Currently working as the content lead for Australian startup CryptoTaxCalculator, Patrick has also covered the crypto industry for Canstar and The Chainsaw. Patrick has over seven years of experience in the crypto space and has previously shared his knowledge with the AML and fraud departments of Australian financial Institutions. For communities on the internet that had grown accustomed to portraying Pepe in Nazi gear or as a U.S. border patrol officer, Trump’s acknowledgment of their memes felt like an endorsement. Most people who used the Pepe meme never knew about its origins; instead, they just saw a frog with various expressions that they could use to portray their emotions, from deep sadness to sheer delight. For Pepe, that means he’s a carefree dude who just wants to smoke weed and play video games with his bros.
Copycat projects
The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s. Despite the volatility, Pepe Coin has managed to maintain a strong community of supporters who are optimistic about the coin’s potential for long-term growth. However, it’s essential to approach investing in Pepe Coin cautiously and carry out research before making any investment decisions. When Musk swapped out the Twitter bird for Dogecoin’s iconic Shiba Inu avatar, the value of DOGE skyrocketed once again.
- In 2016, the Anti-Defamation League designated the meme as a hate symbol.
- Sign up for free online courses covering the most important core topics in the crypto universe and earn your on-chain certificate – demonstrating your new knowledge of major Web3 topics.
- While, to many investors, this may sound like a huge red flag, this is how many memecoins operate.
- 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.
- However, meme coins are highly volatile and speculative, and other factors in the macroeconomic environment and crypto space could influence PEPE’s price either way.
However, it’s essential to note that not all Pepe-branded meme coins are the same. Some of these coins are copycats or even scams designed to deceive investors and capitalise on the popularity of the original Pepe Coin. While, to many investors, this may sound like a huge red flag, this is how many how to buy and sell bitcoins memecoins operate.
Some traders expect PEPE to eventually flip the dog-themed shiba inu (SHIB), which is valued at a $14 billion market capitalization as of Thursday. It is unknown if the address was connected to the developer team that issued PEPE. However, the usage of automated bots is common among meme coin traders – who typically purchase small amounts of every token that hits the market, based on certain criteria, hoping to eventually catch a big win. These materials are for general information purposes only and how to buy sologenic are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken will not undertake efforts to increase the value of any cryptoasset that you buy.
What do you need to know about the PEPE price?
The world of crypto is a pseudonymous why bitcoin transactions are more expensive than you think slurry of nicknames, numbers, and memes. Her career spans writing on personal finance with expertise in the cryptocurrency market. She’s fond of venturing into the unknown and counts finance, entertainment, and fashion as her top interest areas. 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.
Pepecoin Price Prediction 2024
From this perspective, it’s doubtful that Pepe’s price will increase by 125,000 times and reach $1. The project aims to capitalize on the popularity of meme coins, like Shiba Inu and Dogecoin, and strives to establish itself as one of the top meme-based cryptocurrencies. PEPE appeals to the cryptocurrency community by instituting a no-tax policy and being up-front about its lack of utility, keeping things pure and simple as a memecoin. There is no doubt that crypto enthusiasts have all the reasons to consider PEPE coin as the next potential meme coin due to its massive entry and unexpected popularity.
PEPE coin is just like another meme coin which does not hold any fundamental and intrinsic value and has no utility. In fact, it is regarded as the most “memeable” meme coin built on the Ethereum blockchain and works as an ERC token. PEPE has charted surging gains over the course of the year, and saw its biggest breakout in November 2024, then the coin jumped to a new all-time high price. This happened as Robinhood listed the token, and Coinbase signaled plans to do the same later in the day.
The direction of these moves depends entirely on the speculative flows of capital from crypto investors, the ‘mindshare’ captured by the coin, and overall market sentiment. Because of their virality, popular meme coins can be prone to especially high price volatility. In part, this is due to the sector’s reputation for being very high-risk but potentially high-reward.
Sethi says uncertainty from the lack of regulations and inherent volatility still exists, but focusing on utility-based tokens is the fundamental approach. While the meme coin category, led by Dogecoin, Shiba Inu, and Pepecoin, still holds a massive $44 billion-plus market capitalization, it remains highly speculative. It fuels the greed of ‘degens’ seeking exponential gains as an all-or-nothing gamble, thinks Sethi. A meme coin investor swapped 0.125 ETH, worth about $250, for a whopping 5.9 trillion PEPE tokens.
The market cap of the green frog now sits at over $3.4 billion (as of March 21, 2024), and has quickly become one of the most popular memes of 2024, surpassing DOGE and Shiba Inu on price gains and trading volume. PEPE is based on Pepe, the famous frog internet meme from the early 2000s. The PEPE meme cryptocurrency was launched last year by a team based in the United States. PEPE intended to influence the meme’s popularity and position itself as a remarkable meme-based digital asset.