Discover the rapid rise of Pepe The Frog, a newly introduced memecoin that has gained immense popularity and market impact in the crypto community and beyond.
Pepe The Frog, a brand-new memecoin that was introduced on April 14th, has amassed a market capitalization of $691 million. It goes without saying that the new coin has been the talk of the crypto community on Twitter in addition to playing a significant impact in the markets over the past few weeks.
Memecoin Pepe: information on the new cryptocurrency, pricing, and more
Beyond all the remarks made about the new cryptocurrency in recent weeks, we can observe that Pepe The Frog is an ERC-20 token on Ethereum from a technical standpoint. Pepe has increased 21,000% since its introduction, growing to a $30 million trading volume and a $139 million market cap.
Several memecoins, including Pepe, are listed on Bitget, in addition to OKX, Gate.io, Huobi, and MEXC. Pepe can also be purchased on DEX Uniswap.
The cryptocurrency was developed as a response to the dog memecoins for Pepe, claim the inventors.
Be cautious though, as Pepe is a memecoin with no expectation of financial gain and no intrinsic worth. In reality, neither a team nor a blueprint are official.
Additionally, given the complete lack of fundamentals, the only reason that hundreds of thousands of people decide to invest in Pepe is speculative in nature. In truth, there are no present plans for Pepe, and the site is not very impressive.
However, the cryptocurrency has greatly strengthened the Memecoin market despite Pepe’s persistent concerns, including Coinbase’s newest denunciation.
In particular, it has led to transaction costs that are exorbitant and congestion on the Ethereum and Bitcoin networks. In fact, a version of Pepe the Frog has also been developed on Bitcoin by utilizing the new BRC-20 standard.
How does the Pepe token function?
Since the Pepe currency is an ERC20 token, as was already mentioned, it is created and distributed using Ethereum’s smart contracts. Its only purpose at this time is for trading, therefore even its operation is rather straightforward.
Memecoin’s token is the project itself, and as mentioned, there are no other services.
For instance, there are neither layer 2s nor initiatives specifically dedicated to the metaverse like there are for other meme tokens. In essence, there is only a very general program for the expansion of the coin.
We note that the recently disclosed tokenomics is likewise rather straightforward. In actuality, there will be 420,690 billion PEPE tokens. Except for 6.9%, which are in the central wallet to cover potential listings on exchanges, almost all of them have been placed on the LP on Uniswap.
Finally, it should be mentioned that Pepe does not have a WhitePaper. The smart contract and the official website provide all the information you want. It seems sense that many individuals have criticized the absence of a whitepaper.
It should be noted, nevertheless, that very unambitious projects have just produced whitepapers for their own benefit in terms of status and exposure. So for Pepe, this is not really a problem.
