$PEPE

About

$PEPE is a Cryptocurrency alt-coin that uses Pepe the Frog as a replacement for Doge as a competitor to the widely popular Dogecoin. The coin, which experienced meteoric rise after being introduced, is being declared a pump-and-dump scam.

Origin

The $Pepe crypto coin came into existence on April 16th, 2023, with a circulation supply of 420 trillion, 690 billion coins, making obvious plays off of 420 and 69, memes known in the community that also relate back to Elon Musk. The twitter account @pepecoineth^[1] officially celebrated the launch by showing the chart, website, and telegram address for the coin, as well as encouraging others to get in on it (shown below).

Spread

Within the first few days, the coin exploded in both popularity and received a considerable 21,000% growth, causing it to trend on Twitter and in alt-coin centric circles. This caused people who bought in early to have tremendous payouts, as noted by Twitter user and crypto holder @_etheth^[2], who spotted one person already making tens of thousands off of their initial investment in three days (shown below).

On TikTok, videos of TikTokers buying the coins have been posting, with TikToker dimascrypto^[3] showing him buying 101 USD worth, posting that he hope it'll pay off as an investment (shown below).

As expected when a new alt-coin starts to get big, people started to be skeptical and call it a rug. In crypto terms, this means that the project will suddenly decline and fail to recover. While talk about $PEPE being another rug pull started to happen, fierce defenders of the coin started to appear, with Twitter user @NFTSNWEB3^[4] summing up the majority of the arguments used in defense of it (shown below).

Search Interest

External References