This article provides an overview of the origin and tokenomics of the meme coin $PEPE, helping readers to quickly understand the rise of PEPE.
Table of Contents:
What is PEPE Coin?
Origin in Internet Meme Culture: Pepe the Frog
PEPE Becomes a Breeding Ground for Hate
Author Personally Kills Pepe the Frog
Who Created PEPE Coin?
Where Can You Trade PEPE Coin?
Tokenomics of PEPE
The Path to PEPE’s Ascension (News Summary)
May 21, 2024
$PEPE Soars 25% to Reach New High! Lookonchain: Super Diamond Hands Earns €80 Million with Only $83..
May 14, 2024
PEPE Breaks Through $0.00001 to Reach “Historic High,” Surging 19.1% in a Single Day, Dog-Themed Meme Coins Rise Together
March 4, 2024
PEPE Hits New All-Time High! Surges Nearly 400% in a Week, Market Cap Reaches €2.8 Billion to Become the 3rd Largest Meme Coin
October 24, 2023
$PEPE Soars 37%! Team Burns $6 Million Worth of Tokens, Whales Buy Over 1 Trillion Coins
May 13, 2023
Breaking News: Musk Posts Pepe the Frog Meme, $PEPE Jumps 16%!
In this current “non-interchangeable bull market,” meme coin $PEPE continues to show strong performance. After reaching historic highs multiple times this year, on the 21st, it once again reached a new high of $0.0000137 in response to the positive news of an Ethereum spot ETF. At the time of writing, its market cap has exceeded $5.74 billion, ranking 25th in the entire cryptocurrency market.
The following sections will provide readers with information on the origin of PEPE, tokenomics, and other aspects to help them understand the rise of PEPE.
PEPE Price Trend. Source: CoinGecko
What is PEPE Coin?
PEPE Coin was born in April 2023 and is a meme coin based on the internet comic character Pepe the Frog from 2005. It is built on the Ethereum blockchain.
According to the official description, the initial intention of PEPE Coin was to break away from the dog-themed meme coins like Dogecoin and Shiba Inu Coin, which betrayed the entertainment spirit of meme coins by designing complex tokenomics. PEPE Coin aims to become the king of meme coins and borrows from the US former President Trump’s campaign slogan, “Make Meme Coins Great Again.”
Origin in Internet Meme Culture: Pepe the Frog
The image of Pepe the Frog originated from the comic artist Matt Furie. The author intentionally chose a name similar to the English word “pee” to add some interesting elements. Pepe first appeared as one of the four characters in the internet comic “Boy’s Club” in 2005. He loves drinking and partying, and many inspirations and funny gags in the comic come from Matt Furie’s daily life with roommates and family.
The moment that truly made this frog popular was when Pepe Frog always pulled his pants all the way down and peed, making the toilet completely wet. This scene happened to be witnessed by a friend, who added the text “Feels good man” to the image. From then on, Pepe Frog became a meme subject for the community’s remixes and creations.
Originally, Furie only found it “casual and funny” about this phenomenon, but things gradually got out of control…
Source: “Boy’s Club”
The moment that truly made this frog popular was when Pepe Frog always pulled his pants all the way down and peed, making the toilet completely wet. This scene happened to be witnessed by a friend, who added the text “Feels good man” to the image. From then on, Pepe Frog became a meme subject for the community’s remixes and creations.
Originally, Furie only found it “casual and funny” about this phenomenon, but things gradually got out of control…
Happy Pepe Frog turned dark when he entered 4chan (4chan is an American imageboard where many internet memes, political movements, or online attacks originate).
On 4chan, users started transforming Pepe Frog into “Sad Frog,” characterized by teary eyes and red lips. Just by looking at the image, sadness was expressed, and Pepe Frog became the voice for many “outsiders” and “misfits.” This image also made him popular on the internet.
Sad Pepe Frog
Being popular is good, right? But when Pepe Frog was used outside of 4chan, the users of 4chan started to feel dissatisfied. They believed that Pepe Frog had a sense of belonging and began maliciously altering the images, combining elements of racism and Nazism, making it impossible for outsiders to steal. They placed all the malicious jokes on Pepe Frog, and the seeds of hatred began to sprout on him.
As things gradually got out of control, a shooting incident in a university town further darkened Pepe Frog. Pepe Frog was depicted wearing guns and driving cars, and the accompanying text crossed the line of “just joking.”
The happy and innocent Pepe Frog of 2005 has now gone beyond Matt Furie’s control. In his documentary in 2021, he expressed his frustration and did not expect his creation to be misused and abused by society.
In despair, he decided to personally kill Pepe Frog in 2017 with his own pen. The members of Boy’s Club held a funeral for him, but it couldn’t stop his life on the internet.
Meanwhile, Matt Furie has been working on the copyright of Pepe Frog, hoping to collaborate with the Anti-Defamation League (ADL) to rehabilitate Pepe Frog and make him a “force for good.” ADL CEO Greenblatt once said:
Further Reading:
PEPE Team Enjoys Lavish Lifestyle, But Original Creator Is Very Unhappy: Pepe Frog Has Become a Symbol of Hatred and Racial Discrimination…
Who Created PEPE Coin?
PEPE Coin was deployed by an anonymous entity. According to Etherscan records, the deployment address of the PEPE smart contract can be traced back to the address starting with 0x2afae…
In August of last year, the PEPE Coin team was exposed for dumping 16 trillion PEPE tokens and modifying the multisig wallet permissions. The identity of the founder was also revealed: a photographer under 30 years old who used the proceeds from the issuance of PEPE to buy a Lamborghini worth $865,000, without giving any money to Pepe the Frog’s original creator, Matt Furie.
Where Can You Trade PEPE Coin?
Currently, PEPE can be traded on decentralized exchanges and can also be bought and sold on mainstream centralized exchanges such as Binance and OKEx. It also has a derivatives market (perpetual contracts).
Tokenomics of PEPE
Total Supply: 420,690,000,000,000 tokens (420 and 69 represent US cannabis culture and sexual culture, respectively)
Token Distribution: 93.1% injected into the Uniswap liquidity pool, 6.9% held in a multisig wallet controlled by the project team for exchange listing, cross-chain bridges, and liquidity pool funds. The wallet can be found by searching the ENS domain name “pepecexwallet.eth.”
Deflationary Mechanism: Each transaction burns a certain percentage of tokens to reduce the supply.
Redistribution Mechanism: A portion of transaction fees will be distributed to PEPE holders to encourage long-term holding and community participation.
Features: No pre-sale, no high transaction taxes, the official destruction of LP tokens, and abandonment of contract permissions. The team promises not to “rug pull.”
The Path to PEPE’s Ascension (News Summary)
May 21, 2024
$PEPE Soars 25% to Reach New High! Lookonchain: Super Diamond Hands Earns €80 Million with Only $83…
With the positive news of the SEC’s Ethereum spot ETF approval, the overall cryptocurrency market has risen. Among them, meme coin PEPE, which has repeatedly reached new all-time highs this year, set another record high of $0.0000134 this morning, surging over 25% in the past 24 hours. Its market cap reached €5.83 billion, rising to the 21st position in the overall cryptocurrency market.
May 14, 2024
PEPE Breaks Through $0.00001 to Reach “Historic High,” Surging 19.1% in a Single Day, Dog-Themed Meme Coins Rise Together
As Bitcoin rebounded to around $63,000 in mid-May, during this upward trend, PEPE reached a new all-time high, surging to $0.00001119 on the 14th, surpassing the previous high of $0.00001025 on March 14.
March 4, 2024
PEPE Hits New All-Time High! Surges Nearly 400% in a Week, Market Cap Reaches €2.8 Billion to Become the 3rd Largest Meme Coin
As Bitcoin approached $64,000 in early March, nearing the peak of the 2021 bull market, PEPE surged from $0.00000138 on February 26 to a high of $0.00000679 on March 4, representing a nearly 392% increase in the past week. Compared to the low point of $0.0000086 in early February, PEPE’s highest increase in just a month has exceeded 665%.
October 24, 2023
$PEPE Soars 37%! Team Burns $6 Million Worth of Tokens, Whales Buy Over 1 Trillion Coins
As Bitcoin experienced a major market movement on the morning of October 24, Pepe the Frog $PEPE also surged more than 37% in the past 24 hours, reaching a price of $0.000001 at one point. This surge may be related to massive whale buying and positive news announced by the team. The PEPE team announced this morning that they have burned tokens worth approximately $6 million and welcomed a new advisory team to assist with their development.
May 13, 2023
Breaking News: Musk Posts Pepe the Frog Meme, $PEPE Jumps 16%!
On May 13, 2023, around 5:30 am Taiwan time, Musk tweeted a popular Pepe the Frog (PEPE) meme. Within half an hour, it received over 6,000 retweets and over 29,000 likes. Many users welcomed Musk’s participation in the comments. Even Jack Ma commented, “Elon $PEPE ing”…
For more news about PEPE, click here to read.
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