There is something I would like to discuss with my family.
We especially love using the Pepe emoticon, but we have very little $Pepe.
The reason is not complicated: if you like Pepe, should you support $Pepe coin?
$Pepe is neither the first Pepe-themed coin nor has the creator of Pepe (Matt Furie) given a penny.
Even their team is not a core contributor to Pepe culture (for example: creating various classic expressions).
On the other hand, the $Pepe official website (red hat Pepe, bull head Pepe) are all online pictures.
This thing is not difficult, anyone can draw a few at will. This is a question of sincerity.
Maybe the $Pepe team just wanted to issue a coin and decided to use Pepe - and maybe the idea is not original, because there have been many Pepe coins in the past.
The total issued amount of $Pepe at that time was 420 trillion pieces, and the team retained 6.9%, and the rest was put into the LP pool, claiming to be "Never Rug". However, the community recently accused the team of transferring $16 trillion from a multisig account, further raising concerns.
For a crypto project, founder risk is the biggest risk. Therefore, Satoshi Nakamoto decided to disappear forever; and V God did not dare to cross the thunder pool easily.
The original intention of doing a project is very important, and it is even more important to stick to the original intention.
In fact, Pepe’s father Matt himself did send some NFTs, and you can feel his sincerity.
For example, PEGZ and Hedz, which he hand-draws several times a day (you must know that other NFTs are generated in batches of 10,000).
Of course, there may also be some issuers behind these NFTs to "operate". We will talk about this later, but we will not discuss it for now.
Speaking of sincerity...there are some observations that the $Pepe team may lack sincerity towards Pepe culture. For example, the founder may identify more with Lamborghini culture/laughing rather than Pepe culture.
Meme is not just air, it actually represents a cultural identity. Many people may not fully understand this. But it also has to adhere to a certain cultural sensibility, and stripped of the culture, it's really just a few lines of code.
Therefore, from this perspective, $Pepe coin does not seem to fully capture the essence of Pepe culture. While recognizing Pepe culture, many people may still have reservations about $Pepe coin.
Author of this article:
0xTodd | Nothing Research Partner
