In this article, we’ll explore this project further, giving you all the insights regarding what this Pepe the Frog memecoin is all about and what the PEPE token is!
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Without further ado, let’s learn more about the PEPE token – the Pepe the Frog memecoin!
What is the PEPE Token?
The PEPE token is a new Pepe the Frog memecoin. It’s a special cryptocurrency that aims to make memes great again. As you can see in the image above, the official token website claims that PEPE is “the most memeable memecoin in existence.” The project also states that the dog-themed memecoins have had their day and that it’s now time for Pepe to take reign.
According to the project’s “about” section, Pepe the Frog got tired of countless other silly memecoins. So, whoever is behind this project obviously believes that Pepe is the meme that deserves the spotlight. After all, the site refers to Pepe the Frog as the “king of the memes.”
The team behind PEPE also believes that this memecoin has the potential to make memecoins great again.
The PEPE token went live on the Ethereum chain as an ERC-20 token on April 14th, 2023. The token immediately caught a lot of traction. According to on-chain data, PEPE has several thousand new holders and an impressive increase in experienced buyers. The token’s trading volume and liquidity have also increased since its launch.
Who is Pepe the Frog?
Pepe the Frog was born as a cartoon character created by cartoonist Matt Furie. Pepe’s first appearance dates back to 2005 when it came to life in Furie’s comic Boy’s Club.
There was something special about this character as it soon became an internet meme. Early websites, such as Myspace, 4chan, and Gaia Online, made this comic character popular among online communities. By 2015, Pepe the Frog was the most popular meme on Tumblr and 4chan.
Soon, many different twists of the original character flooded the web. However, it’s worth pointing out that many mentions of this meme included quite horrific spins of the original character. Something that was supposed to represent positivity was skewed by negative people.
This negativity particularly surfaced during the 2016 presidential elections, and the meme got associated with the “alt-right” movement. As a result, the Anti-Defamation League included Pepe the Frog in its hate symbol database in 2016. However, this non-governmental organization did say that most instances of Pepe were not used in a hate-related context.
With that said, let’s just hope that the PEPE token is here to continue the legacy of the original character and help spread positivity. After all, Furie clearly stated in one of his interviews that Pepe was supposed to represent love.
Nonetheless, it’s important to point out that Pepe the Frog memecoin has no association with Matt Furie or his creation Pepe the Frog. According to the token’s official website, PEPE is simply paying homage to a meme that people love and recognize.
PEPE Token Price
The above chart of PEPE shows its explosive development in the first days of the launch. The price per token went from as low as $0.0000000000106 to its current ATH (all-time high) at $0.0000001551. That is more than a 10,000x increase in just four days. Within this short yet explosive rally, PEPE experiences several pullbacks, some with a price decrease of more than 60%.
If you are wondering why the PEPE token’s price is still so low, you need to consider its tokenomics, which is far from impressive. For one, the token supply is extremely high: 420,690,000,000,000. However, such large token supplies are quite normal for memecoins.
On the plus side, 93.1% of that supply was sent into circulation and is already trading on the crypto markets. Currently, the highest trading volume has the PEPE/WETH pair on Uniswap v2. So, using WETH (wrapped Ethereum) is, for now, the best way to buy Pepe the Frog memecoin.
The remaining 6.9% is stored in a multi-sig team wallet only to be used for future centralized exchange listings, bridges, and liquidity pools.
There’s not really enough data to perform any technical analysis for PEPE. However, it wouldn’t be surprising if the token experienced a breather after such a massive rally. But the coin could also just keep going.
After all, the on-chain data (e.g., number of holders) in the last four hours is still very impressive:
PEPE Price Potential – What is Realistically Possible?
How much higher could the price of PEPE go? Well, if the market cap of this Pepe the Frog memecoin were to reach the current Shiba Inu’s level, the price of PEPE would be around $0.000016. That’s more than a 100x increase from where it is today. If you also consider the upcoming bull run momentum, the price could go much higher.
For instance, let’s say that PEPE manages to be as successful as DOGE. In that case, we can look at Dogecoin’s ATH market cap and divide it by PEPE’s total supply. This simple calculation tells us that it is possible for PEPE to reach even as high as $0.000178.
The above-given prices are possible – the historical price movements of the leading memecoins prove that. However, the question is what the likelihood of the same success and adoption happening for PEPE is. That’s something no one knows.
Should I Buy Memecoins?
If you joined the crypto space for tech, odds are you don’t want to deal with memecoins too much. However, even those who love blockchain technology and all the revolutionizing use cases it presents still do not mind making profits.
So, if a part of you wants to know which crypto will explode in 2023, you most likely have a crypto gem-seeking side. There’s nothing wrong with that!
Plus, the past teaches us that memecoins can offer quite incredible gains. After all, just look at Dogecoin and Shiba Inu. They have both come a long way and are currently positioned among the top 20 cryptocurrencies by market cap.
With that in mind, the upside of buying memecoins is potential gains. Plus, if you really like the meme in question, you can have a lot of fun just by engaging with the token community.
On the other hand, there tend to be a lot of pumps and dumps of memecoin prices. Typically, these types of cryptocurrencies tend to be the most volatile representatives of the already highly volatile crypto market. Thus, proper entries and exits are vital if you want to make profits with memecoins.
Essentially, it all comes down to whether or not you like memecoins and if you wouldn’t mind making profits off of them!
Whether you want to add the PEPE token to your watchlist or stay clear of all memecoins, you always want to make sure that your timing is right when buying/selling cryptocurrency. For that, you need a proper tool that can help you detect what is happening on-chain before the price reflects it.
Let Reliable On-Chain Data Guide Your Decisions
At the end of the day, the best tool to guide you in whether or not you should start trading a specific cryptocurrency is Moralis Money. Those using the Pro plan of Moralis Money are already making massive gains with their access to market alpha:
With the Moralis Money Pro plan, you get access to on-chain analytics as things happen. This means you can decipher what is actually going on in the cryptocurrency markets in real time – even before the price reflects it.
So, whether you are interested in memecoins or not, let Moralis Money guide you.
By basing your decisions on on-chain data, you can predict the next move. That said, you might be wondering how to trade crypto and make gains. In short, combine the power of on-chain data and TA. However, if you want to find new cryptocurrencies, TA won’t be much of a help. For new coins, on-chain data is all you have.
So, if you want to make those 50x-70x gains that the average altcoin offers during a bull run, get ready now!
Finding Tokens with Potential in Seconds – Getting Started with Moralis Money
Individual crypto coins or tokens may come and go. However, the crypto market as a whole is here to stay, and it presents great opportunities for those that can get their timing right. At this point, you know that Moralis Money is the most powerful and simplest tool to help you improve your timing.
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So, how to get started with Moralis Money?
Use Preset Filters
The simplest and fastest way to find tokens with increasing momentum is to use one of the preset filters. On the Moralis Money homepage, simply click on one of the preset filters:
Find Your Winning Search Criteria
However, to find more unique opportunities, you want to get familiar with Token Explorer metrics. As such, make sure to play around with a unique combination of search criteria. This is the way to find your winning combo!
Use the following four-step process to start finding cryptocurrencies that have promising potential:
- Open Token Explorer.
- Apply the Market Cap metric to search for established coins with high market cap. Or, focus on newly minted coins by using the Coin Age filter.
- Hit the “Add Another Filter” button to add more filters. For example, to spot tokens that are gaining momentum, metrics like Holders, Buyers, and Experienced Buyers tend to be a great choice.
- Refine your list further by adding even more filters. Essentially, you must select a metric and a filter, enter a value, select a timeframe, and run your query!
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To ensure that you are among the first to spot great opportunities, you want to focus on shorter timeframes. So, lock in your Moralis Money Pro plan today!
All You Need to Know About the PEPE Token, the New Pepe the Frog Memecoin – Summary
Today, you learned all the ins and outs of the PEPE token – the new Pepe the Frog memecoin. We also told you that Pepe the Frog came to life as a comic character back in 2005 and then became a full-blown internet meme between 2008 and 2016.
We also looked at PEPE’s price and discovered it experienced more than a 10,000x increase in just four days. However, by comparing PEPE with DOGE and SHIB, it’s safe to say that this memecoin still has room to grow. Of course, that is if it will be as successful as the current leading memecoins.
Aside from learning about the PEPE token, you also had a chance to explore Moralis Money. After all, this is the tool that could‘ve helped you spot PEPE on time to ride its initial rally. However, you now know that there are many opportunities in the crypto space. So, start using this simple yet powerful on-chain tool today and prepare for the next bull run!