A Comprehensive Guide to Pepe
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Cartoonist Matt Furie created the cartoon figure and Internet craze known as Pepe the Frog. Pepe, a green anthropomorphic frog with a human physique, first appeared in Boy’s Club by Furie in 2005. In 2008, the character’s popularity slowly increased over Myspace, Gaia Online, and 4chan, and he eventually turned into an Internet meme. He was one of the most well-liked memes on 4chan and Tumblr by 2015.
Various Pepe memes exist, such as the “Sad Frog,” “Smug Frog,” “Angry Pepe,” “Feels Frog,” and “You will never…” Frog.
“Rare Pepes” have been sold as trading cards on the “meme market” since 2014. It seems like this served as a kind of inspiration for the creation of the Pepe Memecoin.
The PEPE memecoin appears to be an extension of the cryptocurrency market’s cyclical market behavior, in which every now and then a brand-new memecoin emerges and the euphoria surrounding it entirely dominates.
The PEPE memecoin seems to be a continuation of the crypto market’s usual unstable market mannerism, in which from time to time an entirely new type of memecoin is released and the hype totally dominates.
The PEPE memecoin joined the list of the leading 100 projects within a time period of not more than two weeks following its launch, and it gathered a market value of about $400 million.
Things to Know About Pepe
PEPE was created to have no inherent value, and its website was absolutely clear about this. One should bear in mind that in the cryptocurrency sector, this is not a new thing. Over the years, memecoins have emerged, making the same claims as this and cautioning users that they have no inherent worth.
Tokenomics
There are 420,690,000,000,000,000 PEPE tokens. The Pepe Liquidity Pool was annihilated; about 93.1% of the 420,690,000,000,000,000 was sent to the liquidity pool, and the contract was disowned.
The remaining 6.9% is stored in a multi-signature wallet and thus will be used for listing on liquidity pools, bridges, and centralized exchanges. This was what the official website claimed. Also, one can follow the wallet via the Ethereum Name Service (ENS), “pepecexwallet.eth.”
Pepe’s Ecosystem
The PEPE memecoin ecosystem is growing every day. Its Telegram group has over 25,000 members, and this group receives more than tens of thousands to hundreds of thousands of messages on a daily basis. Also, its ecosystem was only formed in April of this year (2023), and its Twitter page has about 133,000 followers.
Possessing Pepe Has Any Advantages?
Although this token seems to be gaining significant traction on the upside, it can also lose it, which will send it plunging. Inventors have affirmed that this token has no intrinsic value essentially. It is only worth what someone is willing to pay for it.
Also, the emergence of new memecoins poses a threat to the existence of Pepe. Furthermore, since there isn’t enough liquidity needed to pay out one’s winnings, this creates more problems for this token on a lot of the controlled exchanges. The implication of this is that even if someone manages to execute the trade of a lifetime, they might not have enough liquidity to cover their position.
If PEPE endures and is listed on exchanges that are more controlled and have greater liquidity, this worry might become less relevant.
Where can I get Pepe?
On a number of cryptocurrency exchanges, including KuCoin, Binance, CoinEx, Kraken, OKX, Bybit, Gate.io, and MEXC, you can purchase Pepe Coin. It’s critical to confirm if the exchange welcomes consumers from your country before picking which exchange to use.
Technical Analysis:
Considering the Pepe 4-hour trading chart, it could be seen that its price is on the upside and gaining traction. Such that its price action has broken up multiple resistance levels on the Fibonacci Retracement tool within the past 8-hour time frame. The last price candle portrays sellers pulling the trigger. However, the magnitude of the headwind as a result of short traders looks too insignificant at this point. Also, the RSI indicator lines suggest that upside momentum is still generally on. This opinion stems from the behavior of these indicator lines, as they keep trending upward even as the leading line is almost reaching the peak level of the indicator. We can conclude that the PEPE/USDT market seems to be heading towards its all-time high around the $0.000001850 mark.
Conclusion
Since Pepe has been declared to have no intrinsic value whatsoever, it is likely that this coin will go down just like any other memecoin, for example, Shiba Inu. However, as earlier stated, the question of whether investing in Pepe is worthwhile will be effectively answered if it gets listed on more exchanges. This will be a key factor in determining if it is here to stay.
