PEPE: The Meme-Coin’s First Year
PEPE, the meme-coin inspired by Pepe The Frog, is wrapping up its first year since its launch in April 2023. Alongside Dogecoin and Shiba Inu, PEPE falls into the crypto meme category and has entertained the crypto community. Since its launch, PEPE has seen a significant price increase of +2115%, with May 2023 marking its highest point. However, during that same month, PEPE faced controversy when Coinbase referred to it as a “symbol of hate” in an email newsletter sent to customers. This sparked dissatisfaction within the community and led to an apology from Coinbase’s Chief Legal Officer.
PEPE’s Price Trend After the Coinbase Incident
Following the Coinbase incident, PEPE’s price fluctuated but eventually returned to slightly higher levels than at launch. Currently valued at $0.000001259, PEPE’s market cap exceeds $525 million, positioning it at 102nd place in the overall crypto market capitalization ranking. In August, there was a significant price drop caused by unexpected transfers of PEPE on various exchanges. However, the situation has since recovered, bringing PEPE’s price back to current levels.
Are Crypto Memes Still Entertaining?
Crypto memes like Dogecoin, Shiba Inu, Bonk, and PEPE continue to entertain the crypto community. Each meme has its unique story behind it, but they all aim to uplift the spirit of the crypto market. Dogecoin paved the way as the first meme dog in the market and gained support from Elon Musk. Shiba Inu emerged as Dogecoin’s rival, while Bonk achieved success among followers of the Solana ecosystem. PEPE stands out as an original meme project, but some argue that its inspiration from Pepe The Frog may have led to an overvaluation by the crypto community.
Hot Take: PEPE’s Bull Run
PEPE, the meme-coin inspired by Pepe The Frog, has experienced a successful first year since its launch in April 2023. Despite facing controversy and accusations of being a “symbol of hate” from Coinbase, PEPE has seen a significant price increase and has entertained the crypto community. As one of the many crypto memes in the market, PEPE continues to hold its own and remains a popular choice among investors. While there are debates about its valuation and inspiration, there’s no denying that PEPE’s bull run has made it a noteworthy player in the crypto world.
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