The PEPE token went to auction on Sunday, and in just 3 days showed a daily trading volume of $ 50 million on DEX Uniswap, reaching a market capitalization of $ 31 million. The coin is already being called the most memorable memecoin in existence.
At the moment, the number of Pepe tokens in circulation is $420 trillion, which is a reference to “4/20”, and the number of token holders is more than 10 thousand.
Pepe tokens have nothing to do with the funny frog meme or its creator Matt Fury.
Pepe Fury is a green frog with a humanoid body that first appeared in the comic strip “Boys Club” in 2005. In the following years, the frog became a popular part of Internet culture.
The community of the Crypto Twitter blockchain enthusiast platform is able to effectively trade on memecoins, raising a wave of growth of little-known tokens. Previously, representatives of the community blew up the market, raising the market capitalization of Dogecoin (DOGE) and Shiba Inu (SHIB) to tens of billions during the bull market of previous years.
However, it is worth noting that most of the hype waves of such tokens do not last longer than a few weeks. So last year, traders bet on the Grimacecoin token, which then fell in price 14 times from $7 to $ 0.5.
The community of professional investors believes that meme coins and their narratives will always be part of the crypto ecosystem. Since the largest BTC and ETH coins have low volatility, traders will always look for an opportunity to earn money elsewhere.