{"id":48860,"date":"2023-05-01T09:57:14","date_gmt":"2023-05-01T13:57:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=48860"},"modified":"2023-05-01T09:58:35","modified_gmt":"2023-05-01T13:58:35","slug":"pepe-coin-soars-ranks-third-among-meme-coins","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/pepe-coin-soars-ranks-third-among-meme-coins\/","title":{"rendered":"Pepe Coin Soars, Ranks Third Among Meme Coins"},"content":{"rendered":"\n

Pepe, an Ethereum-based token inspired by a popular internet meme, has surged 92% in 24 hours to become the third-largest meme coin by market cap.<\/p>\n\n\n\n

\"Pepe<\/figure>\n\n\n\n

Pepe launched on April 17 and has since increased by more than 1,800% from its local bottom, making some investors millionaires.<\/p>\n\n\n\n

The Meme Coin is designed in tribute to Pepe the Frog,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> a green anthropomorphic frog with a humanoid physique who debuted in Matt Furie's 2005 comic book. <\/p>\n\n\n\n

In 2008, the character's popularity quickly grew across networks such as Myspace, Gaia Online, and 4chan, transforming him into an internet meme. Pepe uttered the line “feels good, man” <\/use><\/svg><\/span><\/a>while urinating with his pants down to his ankles in one comic.<\/p>\n\n\n\n

Since its launch on April 17, 2021, the token's market cap has soared to $448.9 million, making huge profits for early investors and sparking calls for meme season. <\/p>\n\n\n\n

Over the past week, multiple tweets have posted stories of ‘degens' and ‘meeting' relatively small sums into Pepe to become overnight millionaires \u2014 generating a level of FOMO last seen during Dogecoin's 2021 run to $0.74.<\/p>\n\n\n\n

Despite the market slump, Pepe has overtaken FLOKI<\/a> and Baby Doge Currency to become the third-largest meme coin by market capitalization. <\/p>\n\n\n\n

However, surpassing the second-placed Shiba Inu will be more difficult, as it is worth more than ten times as much as Pepe.<\/p>\n\n\n\n

\"\"
four-hour chart – Coingecko.com<\/em><\/figcaption><\/figure>\n\n\n\n

Pepe rose from $0.0000003316 on April 29 around 13:00 GMT to a high of $0.0000012 in the early hours of today, representing a 275% increase, as depicted in the four-hour chart below. <\/p>\n\n\n\n

Gains from the local low of $0.000000055142 on April 18 represent a growth of 1,887%, so a $1,000 investment made then would now be worth $21,400.<\/p>\n\n\n\n

As is typical for meme coins, the Pepe token serves no purpose other than associating with Pepe the Frog. Pepe is a deflationary meme coin with a redistribution system to reward long-term speculators and a burning mechanism, according to its CoinMarketCap page. The page also states that Pepe's creators are anonymous and that there is no team information.<\/p>\n\n\n\n

David Wood tweeted that Pepe devs can raise transaction taxes. However, this contradicts Go Plus Labs' conclusion that the contract owner could not modify the transaction tax.<\/p>\n\n\n\n

\n

#pepe<\/use><\/svg><\/span><\/a> may look good but it seems like they have the authority to increase tax and the contract has a blacklist function. Sound like the government to me. isnt that what were all trying to get away from?#xen<\/use><\/svg><\/span><\/a> on the otherhand is safe just you an the contract pic.twitter.com\/C7nI2rKpI4<\/use><\/svg><\/span><\/a><\/p>— David Wood (@Deeznutzwoody) May 1, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Pepe, an Ethereum-based token inspired by a popular internet meme, has surged 92% in 24 hours to become the third-largest meme coin by market cap. Pepe launched on April 17 and has since increased by more than 1,800% from its local bottom, making some investors millionaires. The Meme Coin is designed in tribute to Pepe […]<\/p>\n","protected":false},"author":44,"featured_media":48863,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[650,2275,277],"class_list":["post-48860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-memecoin","tag-pepe","tag-trading"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/pepecoin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=48860"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/48863"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=48860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=48860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=48860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}