The Pepe Coin is the latest addition to the meme-inspired cryptocurrency market. It incorporates the famous gloomy frog meme to create a distinct user experience by combining the strengths of blockchain technology and the widespread appeal of memes.
Drawing from the popularity of Pepe the Frog, Pepe Coin has been created as a unique cryptocurrency that aims to leverage the cultural significance of memes. However, is the Pepe Coin going to sustain the hype? Or is it just another pump and dump? Let us find out.
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The origin of Pepe Coin
Pepe the Frog meme originated in 2005 as a character in Matt Furie’s comic series, Boy’s Club, and became widely popular on various online platforms such as Myspace, Gaia Online, and 4chan. Over time, Pepe evolved into a widely shared internet meme.
The emergence of Pepe Coin has had a significant impact on the meme economy, demonstrating the growing trend of popular memes transforming into digital assets with substantial value and dedicated communities. Pepe’s success underscores the increasing importance of memes in both online and financial contexts.
Pepe Coin price performance
PEPE gained rapid attention in its initial days due to a notable transaction that caught the attention of the cryptocurrency community on Twitter.
An investor in memecoins exchanged 0.125 ETH, valued at around $250, for an astounding 5.9 trillion PEPE tokens. As interest in the memecoin increased, the value of those tokens skyrocketed to approximately $1.8 million by April 19, 2023, resulting in a potential return of approximately 4,500 times the initial investment.
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At press time, PEPE is trading at $0.000000240604, with a 19.5% drop in value over the last 24 hours. According to CoinMarketCap data, PEPE touched an all-time high of $0.0000004036 before falling to its current price. However, it is still uncertain whether it is a short-lived pump and dump or another major meme coin.