Memecoins are a class of cryptocurrencies that are inspired by the sharing of fun and viral content, such as images and GIFs.
Among the different types of Memecoin present on the market, PEPE is the one that is currently having the most success in terms of user acceptance.
Pepe the Frog: The Story of the Internet Meme
Pepe the Frog is a character from an online comic series created by artist Matt Furie in 2005. The character rose to prominence as an Internet meme beginning in 2010, and has been used extensively in online forums and social media.
In later years, Pepe the Frog’s image became associated with extremist movements and controversial political ideologies, leading to his classification as a hate symbol by the Anti-Defamation League (ADL).
However, most people who use Pepe the Frog ’s image on the Internet do so harmlessly and without malicious intent, although as we said, it has been used in a negative way by some people and groups, and for this reason it has become a controversial symbol.
PEPE vs Bitcoin
Bitcoin is the most famous of the cryptocurrencies and has revolutionized the world of digital finance. It is the first crypto ever to exist, fully decentralized and first by market capitalization.
On a technical level, PEPE is instead an ERC-20 token, i.e. a token based on the Ethereum blockchain. Pepe has no utilities, but it is a token for entertainment purposes only for the community of token holders.
Many wonder what the differences are between PEPE and Bitcoin, but a comparison with the queen of cryptocurrencies is totally impossible. If, on the other hand, we really wanted to compare PEPE with other cryptocurrencies, we could do it with cryptocurrencies that have common characteristics such as Dogecoin and Shiba Inu.
PEPE vs Dogecoin vs Shiba Inu
For example, Dogecoin was created to be a fun and nice currency, but it is left to exist without substantial improvements for many years, however, PEPE has the possibility of token creation and decentralization which poses significant advantages over Dogecoin.
On the same wavelength, Shiba Inu, another famous Memecoin, also presents a "friendly" approach, but has not yet provided its investors with tangible solutions such as those presented by PEPE.
In conclusion, Memecoin like PEPE have the possibility of becoming a valid investment, thanks to its peculiar and distinctive characteristics, thus opening up new horizons and opportunities.
It is important to remember that investing in cryptocurrencies always involves a degree of risk, due to the high volatility and the fact that this type of cryptocurrency is very subject to pump and dump phenomena, therefore to sudden increases and equally rapid decreases in prices .
As mentioned, in fact, memecoins have no intrinsic value and being consistently exposed to these experiments could seriously put your wallet at risk.
Some numbers on Pepe
PEPE has a maximum supply of 420,690,000,000,000 tokens, of which 93% has been sent to the liquidity pool, while the remaining 6.9% has been allocated in a wallet whose allocation will be used for the listing of the token itself on centralized exchanges.
In the early days, when PEPE was listed on the exchange as Bitget, we saw a trading volume against the stablecoin USDT of around $75 million. It currently has a market capitalization of $965 million and is ranked 52nd on Coinmarketcap.
Currently, however, the price of PEPE is falling and in the last 24h, for example, it has suffered a drop of 11% leading large investors to lose unheard-of figures, even if in any case the token had risen by 265% during the week, so it could only be of a passenger drop.
Original article published on Money.it Italy 2023-05-11 08:55:00. Original title: Pepecoin risveglia il trend delle MemeCoin: cosa sono e come farci trading
