PEPE, the latest meme coin that can enter 100 cryptocurrencies First place by market value in just two weeks And this article is everything you need to know about this new meme coin.
A Brief History of PEPE Meme Tokens
The PEPE memecoin was launched in mid-April 2023, around April 18, and less than three weeks later, PEPE had a market capitalization of over $420 million and entered the top 100 coin list.
At the time of writing this article, PEPE is traded on major exchanges such as Huobi, MEXC, OKX, and others. Many decentralized exchanges such as Uniswap
According to the official website, the PEPE memecoin is designed to be “the most memorable memecoin that exists,” with references to other popular meme tokens such as Shiba Inu (SHIB), Floki Inu. (FLOKI), Dogecoin (DOGE), etc.
By design, PEPE assumes no intrinsic value. And it is clearly stated on the website that:
“PEPE is a meme coin that has no real value or any monetary return, nor does it have any official team or roadmap. And this coin is completely useless except for entertainment purposes.”
It is worth noting that these messages are not new to the Crypto market, as many memecoins that have emerged in the past simply do not have any use and immediately warn users that they have no value in the first place.
On the other hand – the goal of the PEPE token is to “simply pay homage to the meme we all love and know.”
Purpose and Vision of PEPE Memecoin
The team that created the token laid out its expectations in the form of a 3-phase roadmap that can be seen below:
Tokenomics
PEPE’s total token supply is 420,690,000,000,000, a figure that pays homage to popular memes 4:20 and 69.
93.1% of the supply is sent to the liquidity pool. The remaining 6.9% of the total supply is stored in multi-sig wallets and will 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 Memecoin Ecosystem
The PEPE ecosystem is growing day by day. At the time of writing this article on May 1st, about two weeks after its initial release. The token already has 65,000 holders, according to Etherescan.
The official Telegram group has more than 25,000 members and dozens of messages per day, while the official Twitter, created in April, already has more than 133,000 followers.
token risk
Like most meme coins, PEPE is the latest meme coin that can enter 100 cryptocurrencies. First place by market value in just two weeks And this article is everything you need to know about this new meme coin. It is one of the most volatile cryptocurrencies since its inception. And the price swings are very high.
For example, on May 1, the price more than doubled. with an increase of over 100%, although this may sound particularly interesting. But it’s important to note that it’s risky. As the popular saying in the crypto market says, “take the stairs, take the elevator.”
Even if the price of PEPE goes “how high”, it can quickly lose all its present value. So keep in mind that the creator himself emphasizes that it has no real value. So it’s just as valuable as someone willing to pay for it. And the risk is even greater with newly minted meme coins emerging out of nowhere.
There is also an additional problem with many centralized exchanges lacking the liquidity required to withdraw the profits earned. which means Although some people can be very profitable. But they may not have enough liquidity to withdraw their profits.
For example, the story of a person who turned $27 invested in PEPE into $1 million, but was unable to withdraw it all. due to various liquidity shortages
Of course, if PEPE can stand its ground and be listed on more centralized exchanges, its liquidity is likely to increase. And this worry may fade away.
security risks
The more popular memecoin is, the more The more scammers try to take advantage of it and scam people with their hard-earned money.
For example, a message from the official PEPE Telegram group that states:
Some community members have contacted us about dusting/token That happens in our deployer’s wallet. Including the CEX wallet as anyone can forge transactions and send these tokens to our wallet. So we would say that every coin doing this is a scam. And a lot of scammers are dusting our wallets to make it look like we are giving away an airdrop. So don’t buy these tokens or interact with contracts as these tokens are risky. Make your pocket money disappear.
In general, whenever you interact with the DeFi ecosystem, it is essential to ensure that you follow some basic safety tips to avoid getting scammed.
Conclusion
In short, PEPE memecoin has caused a stir in the market. cryptocurrency And many in the community are comparing PEPE to other memecoins such as SHIB, DOGE, FLOKI, etc. But only time will tell if this meme-inspired token will survive. or not
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