Everything you need to know about PEPE Coin
PEPE Coin has seen huge success within a short span upon joining the crypto sphere. Learn more about the coin and if you should invest in it.
Everything you need to know about PEPE Coin
The crypto industry only continues to grow with popular assets such as Bitcoin and Ethereum gaining more support from investors and traders. With the massive success of these two coins, many have joined the sphere in an attempt to achieve what they have accomplished. One of the most recent ones to have entered the market is PEPE Coin.
Within weeks since it was released, the coin received massive amounts of attention and investments. Although not record-breaking, it is one of the few coins that entered the top 100 list in a short period. According to CoinMarketCap, the PEPE Coin value had a market cap of over $582 million in less than three weeks after its launch.
With such an impressive start, many are wondering whether or not it is worth investing in the coin. Learn more about the PEPE cryptocurrency with this Gamdom guide:
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Who is PEPE?
It is a meme coin based on the popular cartoon character Pepe the Frog. Created by Matt Furie, Pepe was simply one of the many characters found in Furie’s comic series Boy’s Club in 2005.
Thanks to Reddit and other online communities, Pepe the Frog gained instant fame because of its facial expressions and relatable situations. Many have taken an interest in Pepe as it became a versatile meme template and, soon enough, a symbol of internet culture and humour.
Unfortunately, Pepe’s image has been used by fringe groups as a symbol of hate. Despite its harmless origins as an internet meme, this prompted the Anti-Defamation League to classify Pepe as a hate symbol in 2016. This notion slowly died as it continues to be an iconic figure within the meme community.
Pepe is often seen on popular live stream platforms such as YouTube and Twitch. Although there is no direct association between Matt Furie’s original character, the internet meme has been used by different companies to create their very own meme coin.
What are meme coins?
Meme coins are a type of crypto that gained popularity due to their association with internet memes. These digital currencies often use meme-inspired names, logos, and themes to attract users and create a sense of community. Some of the most popular meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB).
Although many other companies have attempted to use Pepe the Frog as a meme for their coin, the crypto PEPE Coin has seen the most success. Like other meme coins, this crypto operates similarly to traditional assets. It uses blockchain technology for secure and fast transactions.
Nevertheless, its unique selling point lies in its association with Pepe the Frog and the meme culture, which attracts meme enthusiasts and collectors.
About PEPE Coin’s founding team
The founding team of the PEPE Coin is currently not known as they have chosen to remain anonymous. This means that there is no information provided on the member's identities and background. This is common when it comes to crypto projects as many of the popular assets today are launched anonymously.
Despite this, the team has shared information about their goals for the project. This involves creating a fun and engaging coin based on Pepe the Frog. They also mentioned that they are dedicated to creating a vibrant community around the project and with plans to start a number of activities.
How did PEPE Coin’s launch go?
The introduction of the PEPE Coin in mid-April 2023 was a success since it garnered traction among crypto users right away. As mentioned, less than three weeks after its entrance into the crypto space, the meme-based crypto was able to reach a market valuation of almost $582 million. Many claim that the PEPE Coin's numerous listings on various crypto exchanges are among the factors that have contributed to its rapid rise in popularity in recent weeks.
The PEPE Coin price started at a mere $0.000000001 and was last reported to trade at the value of $0.00000137. Since then, the coin has experienced significant volatility with a peak at around $0.000004 after being listed on Binance. However, it has fallen more than 70% to about $0.000001.
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Can PEPE Coin compete with other meme coins?
The biggest question now is whether the PEPE Coin is capable of competing with other meme coins or not. Considering its impressive start, volatility has since affected its value greatly.
Here is a quick comparison between the most popular meme coins in the market:
Dogecoin (DOGE)
Considered to be the most popular meme coin in the market, DOGE has gained popularity due to its meme-based origins and the support of high-profile individuals like Elon Musk. While both are meme coins, it is difficult to pinpoint if the PEPE Coin will be able to compete with DOGE considering they have different goals and target audiences.
Considering that DOGE has currently a larger market cap and a more established community, it is safe to say that the PEPE Coin has a long way to go.
Shiba Inu (SHIB)
SHIB is another popular meme coin that thousands of investors have looked into. With the rise of the PEPE Coin, many are choosing between the two. Similar to DOGE, SHIB has a larger market cap compared to PEPE Coin.
Shiba Inu also gained support from high-profile individuals like Vitalik Buterin, the co-founder of Ethereum. When making the choice to choose between the two, it all boils down to considering both the coin's features and target audience.
Crypto exchanges that support PEPE Coin
Many attribute the success of the PEPE Coin to major crypto exchanges that accept the token. Here are some of the exchanges that support the coin:
Binance
Known as one of the largest crypto exchanges in the world, Binance started accepting the PEPE Coin in May 2023. This helped the coin to develop further with increased exposure and liquidity. Binance’s decision to support the coin was most likely due to its successful launch. Also, the addition of the PEPE Coin can be attributed to the support of various influencers.
Binance provides both new and frequent traders with a user-friendly interface and a full range of functionality. Several trading pairings allow users to swap cryptocurrencies for fiat money like the USD or EUR. For frequent traders, Binance also offers complex trading tools, charts, and order kinds.
Kraken
Another popular crypto exchange that offers the PEPE Coin is Kraken. It was added to its platform in June 2023 which provides it with another major exchange listing. Similar to Binance, this will help the coin further develop as it will expose it to a wider audience of traders and investors.
Users can buy, sell, and trade a variety of crypto on the Kraken platform. Users can exchange assets or fiat currencies including USD, EUR, CAD, and JPY thanks to its user-friendly interface and wide range of trading pairings. The exchange provides limit orders, stop orders, and leverage trading, as well as more complex trading options.
KuCoin
Based in Hong Kong, KuCoin is another crypto exchange that added the PEPE Coin in July 2023. It offers its users a wide range of trading options including spot, margin, futures, and P2P trading. KuCoin is a well-liked option for crypto traders and investors since it is said to provide strong security features and support approximately 400 coins.
The exchange is known for having a user-friendly interface that makes it simple for beginners to use. KuCoin has more than eight million users in 207 nations as of May 2023.
Uniswap
A decentralised crypto exchange to consider buying the PEPE Coin from is Uniswap. This crypto exchange operates on the principles of decentralised finance (DeFi) and uses an automated market maker (AMM) model. The unique characteristic of Uniswap is its use of liquidity pools. This allows users to contribute their crypto holdings to supply liquidity for trading pairs.
These pools are smart contracts that allow transactions to be executed automatically following predetermined algorithms. Uniswap uses mathematical algorithms to calculate token values based on the ratio of assets in the liquidity pools rather than order books and connecting buyers and sellers.
Should you invest in PEPE Coin?
The PEPE Coin may appear to be a great crypto investment considering its success in terms of market cap. Despite this, you should also consider that the PEPE Coin is also one of the most volatile investments due to this.
This implies that it may lose value at any time, which is a constant risk of investing in cryptos. As a result, before choosing to purchase the coin, know how to properly make the most out of it, especially if you intend to use it as an investment or a method of payment at Gamdom.
