Hello, everyone! I gonna introduce the latest meme coin - PEPE - to you this weekend! PEPE coin rose 22,000% in the three days after its launch!
PEPE COIN! Everything You NEED To Know! - YouTube
After entering 2023, Bitcoin $Grayscale Bitcoin Trust (BTC)(GBTC)$ surged and led to rotation in the cryptocurrency market. Meanwhile, meme coins have once again attracted market attention. However, the meme magic of Dogecoin seems to be losing out to the appeal of Pepe the Frog.
Data shows that PEPE, a meme coin based on Pepe, had a surge of over 22,000% in the three days after its launch, making it the most attention-grabbing meme coin at present.
What is PEPE coin? Will it become the next Dogecoin?
Pepe was created by cartoonist Matt Furie in 2005 and is one of the four monsters in "Boy's Club." His lazy personality is memorable, and in 2008, he became famous on the image forum 4chan for his carefree and casual behavior.
How a Cartoon Frog Became a Symbol for a "Confounding Moment in Our History" | PBS
PEPE token was launched on April 14 with the goal of breaking the current meme framework dominated by "Dogecoin" and making Pepe the Frog the most attention-grabbing meme coin again.
Unlike other meme coins based on Ponzi economics, PEPE token has no pre-sale and no high transaction tax.
According to the official website,
93.1% of the supply has been sent to the liquidity pool, the LP tokens were burnt, and the contract itself was renounced.
The remaining 6.9% of the total supply is being held in a multi-sig wallet and is to be used for future listings on centralized exchanges, liquidity pools, and bridges. You can also track this wallet with the ENS name “pepecexwallet.eth.”
PEPE rapidly surged in value from April 17, with a surge of over 22,000% in three days. Its total market value has exceeded $100 million, and it has even entered the top 100 cryptocurrencies.
Although the liquidity pool of PEPE on Uniswap is only $1 million, its daily trading volume has reached an astonishing $46 million, with a total market value of $29 million. The number of holders has also skyrocketed from a few hundred people over the weekend to over 10,000 holders.
Investors make 6,400 times the profit
According to Lookonchain data, a "SmartMoney" address exchanged 0.125 ETH (about $251) for 59 trillion PEPE tokens on the Uniswap platform four days ago.
At the current PEPE price, the value of the 59 trillion PEPE tokens held by this address has reached $1.61 million. If all of them were sold at the current price (which has not yet happened), the return on investment for this transaction would be 6,400 times.
data from tradingview
Many crypto KOLs have analyzed crazy surge of PEPE. Among them, 0xTod said: "The reason for PEPE's success is its return to the path of simplicity and purity, a truly pure meme coin."
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