🐸$PEPE Pepe Coin ($PEPE) is a meme cryptocurrency built on the Ethereum blockchain, gaining significant popularity since its public launch in April 2023. Unlike Dogecoin, which took four years to reach a $1 billion market cap, Pepe Coin achieved this milestone within three weeks. Despite its volatile price, the coin boasts an impressive number of holders. The official website emphasizes $PEPE's lack of intrinsic value or financial expectations, but unofficially, over a hundred thousand investors have acquired it on major crypto exchanges.
Initially designed with a deflationary mechanism, Pepe Coin burned a small percentage of tokens per transaction to create scarcity. A redistribution system rewarded existing holders, fostering engagement and long-term investments. However, changes occurred in August 2023 when a significant amount of $PEPE tokens was transferred from the multi-signature wallet, causing a drop in price and community concerns. Allegedly disgruntled developers were blamed for the theft.
In response, a new team of advisors took over in October, burning a substantial amount of tokens and signaling ongoing development, which positively impacted $PEPE's price. Additionally, a rival meme coin, Pepe 2.0, emerged with a 1% transaction tax.
Pepe Coin's rapid ascent is attributed to high-profile purchases, with the roadmap evolving into vague phases like "Meme," "Vibe and HODL," and "Meme Takeover." To purchase $PEPE, investors use a Metamask wallet and connect to Uniswap, but it comes with associated risks due to potential whale holdings.
The coin's history traces back to Pepe the Frog, created by Matt Furie, which became an internet meme. During the 2016 U.S. election, Pepe was co-opted for negative purposes. Although Furie has the legal right to pursue copyright claims, he hasn't taken action against Pepe Coin creators.
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