Recently, we have seen the meme coin charts go through the roof, and it’s all thanks to an iconic “Pepe the Frog” that rode the wave.
Pepe has been the talk of crypto for some time now after it turned some lucky degens into overnight millionaires.
Within a few days, its market cap soared from being unappealing to over a $1 billion valuation. Impressive!
And it didn’t just end there; Pepe surged by over 350,000% triggered by a few significant events.
But it appears the coin has taken a nose dive, and it’s got some wondering if it’s the right time to buy.
Well, today’s article is about the Pepe coin, and I’ll be sharing my thoughts on its potential. So buckle up for an informative ride.
Pepe The Frog – How It All Started
“Pepe the Frog” has been one of the most popular internet memes in recent years.
The meme should be popular among millennials. LOL
And that’s because it originated in 2005 as a character in “Boy’s Club” by cartoonist Matt Furie.
Fast forward to today: “Pepe the Frog” has become one of the most viral and even controversial memes, extending its influence from crypto to politics.
Well, its immense popularity can be attributed to its versatility.
I mean, you can have a smiley Pepe, a smug Pepe, a wily Pepe, or a Pepe for almost any situation you can think of.
In the crypto world, for example, Pepe has been used since the early Bitcoin days to represent concepts like “Hodling” and market situations.
And then you must be familiar with “rare Pepe NFTs” being sold for astronomical prices.
Pepe’s appeal goes beyond the crypto world, as it is also associated with political movements worldwide; a story for another day.
So, that’s why when the Pepe coin launched, it was no surprise that it hit sky-high prices and made millionaires.
Let’s continue below!
Pepe Coin – The Beloved Meme Coin
Pepe is a meme-inspired coin based on “Pepe the Frog.”
Like all meme coins, it has no utility and was only created for speculation.
Pepe started out as an extremely low-market-cap coin with an enticingly low ticker price.
It has no known founder except for a Twitter account that now has over 200k (quite impressive!) followers.
As for tokenomics: Pepe is an ERC-20 token with a supply exceeding 420 trillion coins.
93% of the coins have been allocated to the liquidity pool, while the remaining amount is stored in a multi-sig wallet for future use.
Binance reported that the team purchased 7% of the entire token supply just moments after TGE.
In addition, Pepe implements a no-tax policy, a staking and a burn mechanism.
Continue below!
A Bull Run In Bear Season
Pepe gave us a bull run vibe—the type of gain that hasn’t been witnessed before since the 2021 bear market started.
In fact, it almost felt like the long-anticipated bull market was about to kick off.
In just three days after its launch on April 16, 2023, it surged by over 21,000% and generated $30 million in trading volume on Uniswap.
So much for a coin that was barely launched!
The market went into a frenzy, with whale investors injecting more money into Pepe coin, pulling its market cap to over $1 billion.
Impressively, it also led to unprecedented levels of activity on the Ethereum network as gas fees drove up insanely.
As the Pepe coin continued racking up gains, it sparked a “meme coin season” hype among traders, resulting in a surge in the values of other meme coins like Floki and AIDoge.
In addition, Pepe’s impressive performance caused it to receive support from the industry’s leading exchanges like Binance, Bybit, etc. and quickly gain over 100,000 holders.
Meanwhile, Pepe’s listing on Binance saw it reach an ATH in a few minutes: it soared from a $0.00000197 listing price to a $0.00000439 ATH.
That’s about a 129.8% gain if you used your calculator correctly.
However, Coinmarketcap shows that Pepe’s ATL is $0.00000002764, indicating an overall gain of more than 15,000,000%.
Gratefully, Pepe also experienced a high trading volume of $2.37 billion, surpassing that of BNB and XRP after Binance’s listing (as reported by Binance).
But sadly, it has now dropped more than 100% of its listing price and is trading at 0.00000159 as of May 11, 2023. Continue below!
Would There Be A Pepe Comeback?
If you bought Pepe when it was first listed on Binance, chances are you’re currently at a massive loss. Ouch!
And this may probably get you wondering, “Wen Moon?”
Well, as you know, nothing in crypto is guaranteed, and considering Pepe as a speculative coin only adds to the uncertainty.
However, all hope is not lost; there is still a chance for Pepe’s recovery, as upcoming events could potentially trigger a rebound.
Taking an analysis from a fundamental perspective:
Meme coins like Shiba Inu and Floki rebounded after their first rally. Below is a screenshot of Shiba Inu’s price chart from Coinmarketcap.
It’s possible that the Pepe coin may experience a similar pattern.
Luckily, OpenSea has declared its support for NFT payments using Pepe coin.
Who knows? This support from OpenSea, when combined with other factors such as a burn mechanism, etc., may facilitate Pepe’s potential comeback.
If you are optimistic about Pepe and considering bagging it now that it is in a dip, below are some exchanges where you can do so.
Top 3 Exchanges To Buy Pepe Coin
1. Bybit
Bybit is a highly reputed crypto exchange where you can trade Pepe.
On this particular exchange, you can trade Pepe for spot, margin, or futures and participate in a trading competition to compete for leaderboard rankings and earn amazing prizes.
Bybit supports 500+ coins. Interestingly, it also regularly lists other low-market cap coins that appeal to degens.
By signing up using the link in the “Max button”, you stand a chance to receive a deposit bonus of $30,000.
2. Binance
Binance is also a reputable exchange to trade Pepe.
It is an exchange that appeals to traders because of its deep liquidity, high trading volume, and robust trading interface.
3. Gate.io
Another top exchange to buy Pepe is Gate.io.
Gate.io provides users with access to a wide range of trading pairs, a user-friendly interface, and a seamless trading experience.
The post concludes here!
Share your thoughts in the comments below.
Do you believe in the potential of PEPE and its comeback?
Share the post if you enjoyed it, and thanks for reading.
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