Meme coins like#ShibaInu,#PepeCoin or#DogeCoin have demonstrated the great power of humor, capable of moving billions simply for… pure fun?
What is Pepe Coin?
Pepe Coin ($PEPE) is a popular meme coin built on the Ethereum blockchain. Shortly after its public launch in April 2023, Pepe crypto became one of the most traded cryptocurrencies.
To give some perspective, it took Dogecoin (DOGE) almost four years to surpass $1 billion in market cap. In contrast, Pepe Coin reached the same level within three weeks of its launch. While the price of $PEPE has been extremely volatile since then, the number of individual holders or owners is still impressive.
The official Pepe Coin website states that $PEPE has no intrinsic value or expectations of financial returns.
Unofficially, however, over one hundred thousand investors have purchased $PEPE on Binance and other major cryptocurrency exchanges.
Pepe the Frog Story
Pepe the Frog is a cartoon character that was created by artist Matt Furie for his comic book Boy’s Club, which was first published in 2005. Pepe, portrayed as a peaceful and kind-hearted frog, became a popular Internet meme and was widely shared on various social media platforms.
However, during the 2016 US presidential election, the character was appropriated by various online communities and used in numerous memes that spread hate speech, racist ideologies, and other forms of discriminatory content. In response, Furie partnered with the Anti-Defamation League (ADL) to bring back the character’s original, more positive context through various means, including a “Save Pepe” campaign.
While Matt Furie is entitled to claim compensation for any commercial use of his creation, it does not appear that he is actively claiming royalties from the creators of Pepe Coin at the moment.
How Pepe Coin works
$PEPE has a maximum supply of 420,690,000,000 tokens. At launch, 93.1% of the project’s tokens were held in a liquidity pool, with the remaining 6.9% allocated to a multisig wallet for future use.
Pepe Coin was originally designed to use a deflationary mechanism that burns a small percentage of tokens with each transaction. This was intended to create scarcity and hopefully increase the value of the remaining tokens over time.#BecomeCreator $BTC
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