When it comes to the digital currency market, Bitcoin and Ethereum are the most well-known. The former is a "digital gold" with stronger asset attributes, and the latter, as the underlying network resource, has spawned a large number of blockchain applications. What many people don't know is that among the tens of thousands of digital cryptocurrencies, there is also a special type of project, which people in the industry figuratively call "local dogs." As the name suggests, this type of project has neither the support of a big technical team nor the favor of investment institutions. The labels attached to them are often "grassroots", "copycat" and "scam."
A typical example of this type of project is the PEPE coin, which has increased 270,000 times in half a month. And a small group of people made a fortune by betting on this "dog". Strictly speaking, PEPE is a meme coin. "Meme" is an Internet culture that is popular in the same cultural atmosphere or copied and spread in a derivative way. It can be a popular phrase, such as "Your uncle will always be your uncle", "Oli Ge", or a popular emoticon package, such as the sad frog named "pepe" in the picture below,
As for why PEPE became popular in the cryptocurrency circle, no one can explain it clearly. It's just that this project appeared, some big Vs in the cryptocurrency circle started talking about it, some people bought it, the popularity increased, and more and more people bought it. As for value, the official website said that PEPE is completely useless and is only for entertainment. There is no formal team or project development roadmap, and it has no connection with the creator of Sad Frog. It is just a tribute to the meme that everyone likes and recognizes.
This is the typical feature of "Tugou". It doesn't matter who the initiator is. There is no roadmap. It blatantly emphasizes that "the value is 0", just like a joke. Public chain tokens can be used as network resources, and decentralized application tokens still have user voting functions, but the "Tugou Coin" project is useless and is only supported by popularity and entertainment. As a big V said, the reason for the surge in PEPE is very simple, that is, the popularity and emotions are in place. PEPE's official declaration is very entertaining and inflammatory. It says that its appearance is to make meme coins great again. It's time to make the world's most famous emoticon package the king of meme coins. Therefore, according to the data of the cryptocurrency data statistics platform Feixiaohao, since its launch on April 15, PEPE has risen 274,000 times, and its circulating market value has jumped from 0 to more than 1 billion US dollars.
A whale once spent
1.08 million US dollars was used to buy PEPE coins, and a few days later it rose to 16 million US dollars, and one "small goal" was easily achieved. After PEPE coins became popular, its status was also upgraded. According to people in the currency circle, "earth dogs" became "golden dogs", attracting many "earth dogs" to follow suit, including Hasaki (HAHA) coins taken from the skill voice of "Yasuo", a character in the game "League of Legends", POGAI coins originated from the panda head spoof emoticon package, and WOJAK coins derived from the familiar forehead wrinkle depressed bald man emoticon package. Seeing this, you can probably understand why meme coins are popular. Compared with application tokens, storytelling and narrative speculation are the spiritual core of meme coins, but it only has a spiritual core. Looking back in the past, every round of meme coin carnival in history will eventually evolve into a "run fast" game. The other side of betting on the "golden dog" to get rich is blood loss and zero.
Click on the avatar to follow me, find me by looking at the homepage introduction, and get the bull market strategy layout for free! Dapeng will take you to ride the wind and waves and land easily! You can win at the starting line even if you lie down!
