What is PEPE?
PEPE is a token themed around the internet meme 'Sad Frog Pepe the Frog'. It was launched on Ethereum in April 2023, has no real utility or project roadmap, and is purely a community-driven cultural token aimed at paying homage to early meme coins (like Dogecoin DOGE and Shiba Inu SHIB) and attempting to replicate their success.
Key Features
1. Purely meme-driven: No team, no product, no commitments, just culture and narrative.
2. Tokenomics:
· Initial total supply: 420.69 trillion (this number itself is an internet meme).
· Token Burn: Some liquidity has been burned, and the team does not hold any shares, creating the image of 'completely belonging to the community'.
· Tax Mechanism: The early versions had transaction taxes, which were removed in later versions.
3. Community and Culture: The core value lies in its strong, spontaneously formed online community (especially on Twitter, Telegram, and Discord), which promotes dissemination through memes, jokes, and collective belief.
Why is it so popular?
· Timing and Emotion: Appeared during the market downturn in 2023, starting with an extremely low market value, aligning with the market's speculative desire for the 'next SHIB'.
· Meme Power: 'Pepe the Frog' is already a cultural symbol used by the crypto community, possessing natural affinity.
· Speculative Frenzy: The explosive growth (thousands of times) in a short period has attracted global speculators and attention, forming a reflexive cycle.
· Exchange Listings: Rapidly gained listings on several top centralized exchanges (such as Binance, Coinbase), bringing significant liquidity and exposure.
Main Risks and Controversies
⚠️ High-Risk Warning: This is one of the riskiest categories of cryptocurrency.
1. Extreme Volatility: Prices are completely driven by emotion, capable of soaring or plummeting by over 80% within a single day.
2. Imitations and Scams: Thousands of 'PEPE imitations' have emerged, many of which are pump-and-dump scams.
3. Lack of Intrinsic Value: If community enthusiasm shifts, the token's value could drop to zero.
4. Legal and Copyright Issues: The image of 'Pepe the Frog' itself is subject to copyright disputes.
5. Liquidity Risk: Trading on smaller exchanges or decentralized exchanges may face risks of insufficient liquidity or contract vulnerabilities.
