What is Pepe digital currency (PEPE); A currency that made many people rich very easily
Pepe (PEPE), a new digital currency that recorded a 900% profit in two days. Pepe, a new meme coin, has been making a lot of noise over the past few weeks and has managed to post impressive growth in the recent bear market. The question is, what is Pepe? And why has it made so much noise?
In this post, we are going to put this digital currency under the microscope.
What is Pepe digital currency and where did it come from?
On April 17 (April 28) this year, this digital currency was able to become the headline of many news agencies in the field of digital currencies. During the two days after the launch of this digital currency, Pepe was able to register a transaction volume of 30 million dollars in UniSwap.
One day after the launch, an investor received 5.9 trillion Pepe units for 0.124 ether, equivalent to 200 euros. On April 19 (30 April) and at the same time as the price of Pepe increased, the investment value of this investor reached an extraordinary profit with a growth of 4500 times. This huge profit made many investors think of buying PEPE and investing in this token.
Of course, we should not forget that due to Pepe’s low liquidity in exchanges, selling these 5.9 trillion units was not an easy task for this investor.
Pepe is actually inspired by a popular meme of a frog with the same name (Pepe the Frog). For now, this new coin can be considered a hype at best; Because it has no special use and is just a digital currency with a frog icon.
“The most memeable meme in the world” is the description published on the official page of this digital currency on Twitter. Pepe’s official Twitter Then, with an allusion to other meme coins in the market such as Shiba Inu and Dog Coin, which were made from memes centered on dogs, he wrote:
The world was in the hands of dogs [و الان دیگه تموم شده].
The margins of this digital currency do not end here. Despite the lack of technical data from Pepe, the circulating currencies of this digital currency are 420 million units, which refers to April 20 (4/20). April 20 is the day marijuana fans celebrate!
What is memecoin?
Before going to a short definition of meme coin, it is better to take a look at memes and the nature of these funny internet images. In fact, understanding the concept of memes and meme coins makes it easier to understand what Pepe is and why it has grown so much.
What is a meme?
Very simply and briefly, a meme is a term that refers to jokes on the Internet that spread quickly and are used by many people. Memes are mostly shared as an image with a caption on it.
If you are familiar with the world of digital currencies, you have at least once seen the memes that are used in the community of digital currency users. Among the most famous of these memes are the memes of Elon Musk and the image of the Dogecoin logo.
Now that we are familiar with the concept of meme in general, it’s time to explain meme coin.
Memecoin
MemeCoin is a digital currency or token inspired by a meme. Shiba Inu and Dogecoin are the most famous memecoins in the market, which are ranked 8th and 15th respectively in the list of top digital currencies.
Unlike other digital currencies such as Bitcoin, Polkadata and Solana, memecoins mostly have no special use! For example, the creator of Dogecoin himself stated that he created Dogecoin as a joke! However, in the financial markets, supply and demand determine the value of a token, which is why memecoins are making a lot of noise.
If you would like to learn more about memes and meme coins, we recommend the article “What is a meme coin?” Read in Digital Currency to get to know the strange world of these digital currencies.
Pepe the frog meme
The story of this frog meme goes back to 2005 and the rise in popularity of internet memes. At that time, in many Internet forums, these memes were produced and published, and this made Matt Furei think of making this meme. Another interesting point is that this meme became a symbol of opposition to the Anti-Defamation Union in the middle of Donald Trump’s election campaign.
In addition to the fact that the Pepe meme is very popular among Internet users, it has now become one of the most popular memes to put on the profile picture of bazaar coins, and the logo of many bazaar coin memes is a photo of Pepe.
It is worth noting that the Pepe cryptocurrency has nothing to do with Matt Fury and, like many other tokens, is only inspired by the Pepe the Frog meme.
Buying Pepe (PEPE) and the future of this digital currency
The life of this digital currency has not yet reached a month! So we can’t talk specifically about Pepe’s future. However, according to many analysts and experts of the cryptocurrency market, meme coins play a prominent role in this ecosystem.
James Wo, the founder of DFG, says in relation to meme coins:
Like it or not, memecoins are a huge part of the cryptocurrency trading space.
If we think a little about this conversation, we will probably come to the conclusion that dozens of other coins will be created like Pepe, enter the market, grow, and sometimes, like a failed meme coin in the market, no one will even remember their name.
Just scroll through the list of digital cryptocurrencies and see how many coins and tokens have come with Pepe’s names and their prices have dropped to zero.
Sale and purchase of Pepe
The new digital currency feature allows you to see in one list all the Iranian exchanges that have Pepe digital currency available for purchase.
To see the list of exchanges that support PEPE, just go to the PEPE purchase page and enter the amount you want to buy or sell. In the next step, you can see the list of exchanges that support this digital currency with their purchase and sale prices.
By clicking the “Buy” button, you will be redirected to the exchange page. After completing the deposit and authentication procedures, your digital currency will simply be deposited into your wallet on the exchange.
When selling, first deposit your coins to the exchange and after authentication, sell your digital currencies. To learn about the trading method and the types of orders for buying and selling digital currencies, we also suggest reading the article “Types of orders in digital currency exchanges”.
Frequently asked questions
Coin Pepe meme was launched on April 17 and its maker is unknown.
Considering the newness of this digital currency and the high risk of this market and of course the low liquidity, you should consider all aspects of investment before buying Pepe.
PepeCoin is currently working on the Ethereum network.
Conclusion
A bitter truth: Creating a simple token without specific application on blockchain networks is not that difficult. Currently, there are many meme coins in the market that have become zero overnight or disappeared from the market.
Now that we have answered an important question like “What is Pepe”, remember: before making any investment in digital currencies that do not have a specific support and specific application, do enough research and check the project thoroughly.
There are many digital currencies in the market that have the same name as PEPE; When buying Pepe, pay attention to this point so that, God forbid, you don’t face irreparable challenges.