I hope you are all well, welcome to CryptoGod-1’s blog on all things Crypto. Today I will be starting a mini series looking at some of the hot meme coins which have been flooding the market recently, doing a quick analysis on each to show the latest (and somewhat crazy) trend that has taken over the crypto space.
This coin was released back on the 17th of April 2023, and it shot to fame thanks to the fact it features the well-known internet meme character Pepe the Frog as its mascot. Apparently the creator of the Frog has no association with the token, but nonetheless it didn't stop the hype and FOMO of the coin. Within just two days of being launched the coin saw its market capitalisation go from zero to nearly $100m. It has been up and down since, but is still considered a strong player in the meme coin space despite its short lifespan so far. Important information includes:
Total Supply: 420,690,000,000,000
Contract Address: 0x6982508145454ce325ddbe47a25d4ec3d2311933
Market Cap: $675,713,684
Price at time of writing: $0.000001724
24-hour trading volume: $436,914,571
CoinMarketCap ranking:
The coin claims to be the most memorable meme coin in existence, and that the dogs have had their day. Its time for the Frog now. It is created with the aim and ambition to 'make meme coins great again,' It was launched in a stealth way with no presale, while also have zero taxes with LP burnt and contract renounced. It is claimed to be a coin for the people, forever, and is fuelled by pure memetic power.
From the off 93.1% of the tokens were shipped off to the liquidity pool while ensuring that LP tokens were burnt. The remainder of the supply, the 6.9%, is held in a multi-sig wallet when is only set to be used for future centralized exchange listings, bridges, and liquidity pools. The wallet has its address here: “pepecexwallet.eth”
Available to purchase on Uniswap, with a direct swap link available on the , $Pepe is built on the Ethereum blockchain and is also listed and available on a host of other exchanges, including Okx, Binance, and Kucoin. The longer term plan for Pepe is to achieve even more listings on CEX's and DEX's, while also aiming to open a Pepe academy, have Pepe merch available, and create Pepe tools (likely in the AI space).
While the price initially saw positive and strong growth, reaching its all time high on the 5th of May 2023, it has since tumbled back down to lower levels. By the 12th of May the price had fallen back down and looked to be crashing, but a Tweet by Elon Musk seems to have sparked some life back into the coin. While it is still way off its original all time high price, millions have been made by those who invested upon its initial release and watched the price boom upwards. The current price is roughly: $0.000001724
The token has not come without its controversy, as the popular cryptocurrency exchange COINBASE refused to list the coin, noting in the past the Frog has “been co-opted as a hate symbol by alt-right groups.” Immediately there was backlash as the ever growing community of $Pepe fans calling out the exchange which they claimed has been known to list some questionable tokens in the past. In a response, the chief legal officer, Paul Grewal, stated on Twitter:
“We screwed up and we are sorry. Yesterday we shared an overview of the Pepe meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.”
All in all it has been a crazy rollercoaster ride for $Pepe since it got listed in late April. The coin has seen phenomenal growth in the meme community and has become a mainstay for meme crypto. Many are backing it to have a long-term future in the space, such as Dogecoin has proved in the past. Whether or not it is worth investing in at this stage remains to be seen, but as often is the case, anything why Elon is willing to Tweet about is bound to get some traction.
You can find my previous meme coin posts here:
$Simpson
Have a great day.
CryptoGod-1.
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