PEPE is a cryptocurrency based on the meme of Pepe the Frog, a cartoon character created by Matt Furie in 2005 who became famous on the internet for his expression of sadness and sarcasm. PEPE launched in April 2023 as a tribute to the meme and the popular culture that surrounds it.
The Memecoin Who Takes Itself Serious
The memecoin differs from others by three unique features: a no-tax policy to allow more people to buy the token, a redistributive system to guard against inflation and reward long-term token holders, and a burn mechanism to maintain the scarcity of the PEPE token.
It has gained a lot of attention and popularity in the crypto space thanks to a high-profile purchase that shocked the Twitter community. A memecoin investor exchanged 0.125 ETH, valued at about $250, for 5.9 billion PEPE tokens. The value of those tokens skyrocketed to about $1.8 million in just two days, giving a potential return of about 4,500 times the initial investment.
This fact attracted thousands of other investors who were hoping to make quick profits on PEPE before the price hit a ceiling. However, the investor who bought the 5.9 billion tokens may find it difficult to sell them at the current price, given PEPE’s relatively low liquidity pool.
PEPE’s Future Its Not Written on Stone
The future of PEPE is uncertain, but what is clear is that it has become one of the most popular and fun memecoins on the market. Bitfinex, one of the most advanced cryptocurrency trading platforms in the world, recently announced that it will list the PEPE token in its ecosystem. Bitfinex will open deposits for PEPE on May 22, 2023, and start trading on May 24, 2023, in pairs against the US dollar (USD) and Tether tokens (USDt).
🐸 $PEPE from @pepecoineth is now open for trading at Bitfinex!
Join the memecoin fun, start trading today and enjoy our trading fee discount:
🙌 ZERO fees for market makers
🔥 4 bps for market takershttps://t.co/V8jECeNuon pic.twitter.com/5EJww7x5sz— Bitfinex (@bitfinex) May 24, 2023
Bitfinex is not the only platform supporting PEPE. Other platforms like Uniswap, PancakeSwap, and SushiSwap also offer the ability to buy and sell PEPE tokens with different cryptocurrencies. Additionally, there are several websites dedicated to promoting and spreading the Pepe the Frog meme and token.
