The story behind Pepe the Frog
Cartoonist Matt Furie created the cartoon character Pepe the Frog in the 2005 comic book Boy's Club. Described as a calm and friendly frog, Pepe quickly became an internet sensation and a popular meme on all major social media platforms.
Pepe first appeared on the 4chan forum around 2008 and quickly went viral on the chaotic image board. Since 4chan was the home of almost all memes at the time, Pepe became popular among users who frequently visited the site. By 2014, Pepe had gained mainstream recognition.
During the 2016 U.S. presidential election, the character was adopted by multiple online communities and used in memes that spread racist ideas, hate speech, and other discriminatory content. The slogan "Let's Make Pepe Great Again" associated with the Trump campaign played a crucial role in its spread.
When the NFT craze hit, Pepe became an icon. Many NFT artists are members of the meme generation who grew up with Pepe and other memes, so these images often appear in their works. Instead of resisting the trend, Furie joined the NFT revolution and made a lot of wealth from Pepe's "originals" while allowing most of Pepe's NFTs to continue to circulate. Ultimately, the original Pepe NFT was sold at a Sotheby's auction in 2024 for an undisclosed amount.
Historical performance
As a cryptocurrency, PEPE has attracted widespread attention with its unique concept and dramatic price fluctuations. The price fluctuations of PEPE coins are like a roller coaster, which is eye-catching.
Price Fluctuations: The price of PEPE has fluctuated wildly between a high of $0.0000147 and a low of $0.000000205, making PEPE price prediction a focus of attention for investors and traders.
Trading volume and market cap: PEPE’s trading volume has surged, indicating that many people are buying and selling the token. The market cap has also climbed to $3.85 billion.
These ups and downs show that PEPE has an active community of traders and investors, which is a key factor in predicting future prices.
PEPE Token Economics
ERC-20 Token: PEPE coin is an ERC-20 token based on the Ethereum blockchain, which means that Ethereum's proof-of-stake validators process transactions involving PEPE coins.
Transaction costs: When buying, selling or transferring PEPE coins, Ethereum gas fees are incurred. However, this contract is tax-free, eliminating additional transaction fees.
PEPE has a maximum supply of 420,690,000,000 tokens. At launch, 93.1% of tokens went into the liquidity pool, and the remaining 6.9% were allocated to multi-signature wallets for future use. There is no token allocation by the team. Pepe Coin creates scarcity by burning a small portion of tokens per transaction, hoping to increase the value of the remaining tokens over time.
Factors that influence the future of PEPE
Market adoption: If more people start using PEPE for transactions or investments, rising demand will drive prices higher.
Technological Developments: New updates or improvements to PEPE can boost investor confidence, thereby pushing prices higher.
Regulatory changes: Changes in global cryptocurrency regulations can greatly affect prices. Good regulatory news can attract more investors, while bad news can have a negative impact on prices.
Economic factors: Global economic conditions, such as inflation, interest rates, and geopolitical events, have a significant impact on the crypto market and the future price of PEPE tokens.
PEPE Price Prediction 2024
Predicting the price of PEPE token in 2024 is challenging, but here are some experts’ opinions:
Optimistic view: If PEPE continues to grow and gain more users, the price could rise significantly. Some forecasts suggest that under optimal conditions, the price of PEPE could reach $0.0001.
Pessimistic view: If the market is down or things don’t go well, the price of PEPE is likely to fall or remain flat, possibly staying around $0.000005.
Balanced View: Assuming steady market growth and continued adoption, a more realistic forecast is for PEPE to be priced between $0.00002 and $0.00005.
In the ever-changing crypto market, the future of PEPE is full of uncertainty, but its unique background and broad community support make it a project worth paying attention to.
