How PEPE became the myth of MEME coin with a ten-thousand-fold increaseIn the current so-called bull market, the meme coin PEPE is still performing very strongly.
This year, it has refreshed its historical highs many times. Driven by the good news of Ethereum spot ETF, it has once again set a new historical high of $0.00001725.
The market value has exceeded $6 billion, and its ranking in the entire crypto market has also risen to 25th.
What is PEPE coin?
The PEPE coin was born in April 2023. It was inspired by the 2005 web comic character Pepe The Frog. It is a meme coin based on Ethereum. The image of Pepe the Frog comes from cartoonist Matt Furie, who said that he deliberately named it close to the English word pee to increase the fun.
The official said that the original intention of the PEPE coin was to be tired of dog-themed meme coins such as Dogecoin and Shiba Inu Coin, which deviated from the entertainment nature of meme coins due to complex token economics design. Therefore, PEPE aims to break these frameworks and become the king of meme coins. It borrowed the campaign slogan of former US President Trump and proposed to make meme coins great again.
Who created PEPE coins?
Last August, the official PEPE coin team was exposed to reselling 16 trillion PEPEs and modifying the multi-signature wallet permissions.
The identity of the founder was also revealed: he was a photographer under 30 years old, and he used the income from issuing PEPE to buy a Lamborghini worth $865,000.
In addition, they did not pay Matt Furie, the original creator of Pepe the Frog, any compensation at all.
Total PEPE issuance: 420,690,000,000,000 (420 and 69 represent the cannabis culture and sexual culture of the United States, respectively)
Token distribution: 93.1% is injected into the Uniswap liquidity pool, and 6.9% is kept in a multi-signature wallet controlled by the project party, which is used for exchange listing, cross-chain bridge and liquidity pool funds. The wallet can be found by searching the ENS domain name "pepecexwallet.eth".
Deflation mechanism: A certain proportion of tokens will be burned for each transaction, thereby reducing the supply.
Redistribution mechanism: A portion of each transaction fee will be allocated to PEPE holders to encourage long-term holding and community participation.
Features: No pre-sale, no high transaction tax, the official destroyed the LP tokens and gave up the contract authority, and promised never to run away (Rug Pull). $PEPE
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