When something as big as the Pepe coin movement comes along it’s impossible to avoid it. At the same time, there is so much talk about $PEPE it’s hard to determine what’s facts and what’s FUD.
This article aims to separate the two so you have a better idea of what’s really going on and can better determine where Pepe coin might be headed in the future.
Contents
The FUD About PEPE Coin
Let’s start with all the fear, uncertainty, and doubt (FUD) regarding $PEPE. The false narratives surrounding Pepe coin are being pushed by various entities with alternative motives.
One of those motives is to scare people out of owning $PEPE so they can secure their bags at a much lower cost.
The most outlandish thing about this FUD is that it’s coming from some of the most “trusted” media companies and influencers in the crypto space.
If you want to know what paid FUD sounds like, just listen to this Twitter spaces.
$PEPE could drop in price
One of the greatest “fears” from anti-PEPE’ers is that the coin’s value could drop. First off, that’s a no-brainer. I don’t need a media company with a gold checkmark on Twitter to tell me that.
The same is true for Ethereum, Bitcoin, and everything else on Earth. The price of gold goes up and down, and so does your local real estate market. That’s how our economy works.
PEPE coin has no utility
This is a fact that has been used to push FUD on anyone considering joining the Pepe movement.
Pepe coin’s official website clearly states, “$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”
This isn’t news to anyone. I’d argue that Pepe has the same “utility” as Bitcoin. What does Bitcoin “do” that $PEPE can’t?
Likewise, what can you do with gold? Does it have utility? I guess if you consider gold chains and wedding rings a utility then sure.
If that’s the case then I’ll propose to my girlfriend with $PEPE… Now does it have utility?
It’s a meme coin that’s going to zero
I’ve heard on several occasions that meme coins always go to zero. If that’s the case, then Dogecoin and Shiba Inu wouldn’t have a combined $15 billion market cap, years after they launched.
Sure, they may have declined in value — but they aren’t at zero.
If Doge and Shib can maintain a substantial market cap with a rather static community, then who’s to say Pepe (with a more active community) isn’t capable of the same or considerably more than other meme coins on the market?
PEPE coin doesn’t have any value
This is a flat-out lie. The market always determines the value of something, not someone with alternative motives holding a Twitter space to instill FUD into thousands of listeners.
Or keyboard warriors who have done absolutely no research themselves to back their claims.
If 100k+ people agree that $PEPE has value, then it has value. That’s just facts.
The same reason people are willing to spend $500 on a pair of Nikes over a generic pair of $30 Payless shoes, is the same reason people are willing to buy $PEPE over other coins.
They like what it stands for, how it makes them feel, and are willing to pay the price.
It’s literally that simple.
The Facts About PEPE Coin
Let’s put aside the fear, uncertainty, and doubt for a moment and focus on the facts. These facts are easily accessible for anyone to see and evaluate for themselves.
In my view, examining the data is a more dependable method to assess Pepe coin and its potential trajectory in the future.
The PEPE coin contract was renounced upon launch
When the Pepe coin contract was launched, it was renounced, which means that it can’t be changed or modified in any way.
Renouncing a contract is done to prevent further changes to the contract’s code, thereby eliminating any potential vulnerabilities that could be exploited by hackers or malicious actors.
Renouncing a contract is especially useful for creating digital assets that require trustless execution without the need for intermediaries or centralized control.
In simpler terms, Pepe is what it is. No more, no less.
This means there are no false promises made to the holders of $PEPE. It is a meme coin that has a robust community and is based on blockchain technology.
PEPE coin became a top 50 cryptocurrency in two weeks
In a span of just two weeks, Pepe coin managed to climb up the ranks and secure a spot among the top 50 cryptocurrencies in the world, based on its impressive daily trading volume.
In fact, a representative from the crypto exchange, Huobi, said PEPE had outperformed ETH in trading volume for an entire day.
No other cryptocurrency has rocketed to the top of the trading charts as quickly as $PEPE has.
PEPE reached 100k on-chain holders in less than 3 weeks
In less than 3 weeks after its launch, $PEPE was held by more than 100k on-chain holders.
The actual number is even greater as this number doesn’t take into account people who hold the coin on centralized exchanges.
What’s impressive is that the growth of $PEPE has been entirely organic, without any paid promotion or marketing efforts.
That’s the reason you don’t see any of the “web3 influencers” pumping it.
All the content has been created by users on Twitter and other social platforms who are simply creating out of pure joy for Pepe the Frog and the movement that this coin represents.
One of the most popular pieces of content at the moment is an AI-generated song by @IamAITheArtist featuring AI Drake.
The music video was created by @Pauly0x, who incorporated some original Pepe animations from the creator of Pepe the Frog, Matt Furie.
Seriously, this song goes HARD. Just listen for yourself.
$PEPE has been trending on Twitter since it launched
In just 3 days after its launch, $PEPE became a Twitter sensation with more than 39,000 trending tweets.
And this popularity hasn’t waned.
As of now, $PEPE is trending daily on Twitter, with a minimum of 1 million tweets per day. On one occasion, it even crossed the 6 million tweet mark.
What’s more, Pepe has been the driving force behind other trending words on Twitter, including “Coinbase” and “PepeAi”.
The tweet below was a key factor in making $PEPE and Coinbase trend together.
PEPE was listed on centralized exchanges within 4 days of its launch
When Pepe coin started to gain popularity, crypto exchanges realized they couldn’t ignore it.
Otherwise, they would lose out on a lot of money considering exchanges make their money from trading fees.
Huobi was one of the first exchanges to announce they were listing the coin, only four days after its launch.
Other tier 1 centralized exchanges also followed suit. On May 5, 2023, just 22 days after its launch, Binance announced that Pepe would be listed in the “Innovation Zone”. Trading began on 2023-05-05 16:00 (UTC).
PEPE reached a $1 billion market cap in less than 3 weeks
$PEPE’s achievement of reaching a $1.8 billion market cap within such a short period is remarkable.
For comparison, Dogecoin, a popular cryptocurrency, took over 8 years to reach a $1 billion market cap.
Shiba Inu, another prominent meme coin, took 9 months to reach the same milestone.
PEPE is one of the greatest online communities to ever exist
Despite not having the support of VCs, media companies, or your favorite web3 influencers, Pepe has emerged as one of the greatest online communities in the history of the internet.
If you think it all started with the $PEPE coin, you’re sadly mistaken.
Pepe has been around for over a decade. The frog character has played a role in controversial political movements here in the USA and overseas in Hong Kong.
Pepe alone has single-handedly helped establish the meme culture that we all know and love today.
And guess what?
Even if $PEPE were to go to zero—which is unlikely at this point—Pepe the Frog and its community will continue to live on.
A community member even went as far as getting Pepe the Frog on a billboard in Time Square just weeks after the token launched.
And let’s not forget the millions of memes, dope songs, and other community-generated content from all over the world.
Major media companies are continually FUD’ing the PEPE coin
Major media companies often promote projects when they’re performing well and criticize them when they’re struggling.
Unfortunately, with $PEPE, respected publications like CoinTelegraph have only been spreading fear and negativity to their readers.
One particularly heinous example of this occurred during a live Twitter spaces event, where CoinTelegraph not only prevented people from discussing $PEPE but also invited a Bitcoin maximalist lawyer to speak negatively about it in front of over 20k listeners.
The lawyer went as far as giving legal advice and boldly claimed that “$PEPE is going to zero.”
I don’t know about you, but that seems like a bold statement to announce in front of thousands of listeners without any clear or factual evidence to back such claims.
Seriously, just go and read any article about $PEPE. They all say the same thing and their “price predictions ” have already been blown out of the water within weeks of the coin launching.
Certain publications like Outlook India for example, have gone as far as FUD’ing Pepe so that they can pump their own coin in the very same article.
This type of behavior is appalling and shows that these media companies only care about making money off their readers and withholding the truth.
Don’t let these publications FUD you. Instead, take the time to educate yourself. Join different Twitter spaces, ask questions, and seek the truth for yourself.
You’re not going to find the truth unless you search for it. Believe me. I have spent over 35 hours of my personal time listening to various Twitter spaces about $PEPE.
And to be fair, I’ve heard both sides — the Facts and the FUD.
But only you can determine how you truly feel about the Pepe movement, and whether or not you want to be a part of the future of Pepe and the crypto space in general.
Frequently Asked Questions
Is Pepe coin a good investment?
It’s impossible to say whether or not Pepe coin is a good financial investment. All cryptocurrencies are extremely volatile. If you do decide to invest, make sure it’s with money you can afford to lose.
Will Pepe coin go up?
Pepe coin has the potential to increase and decrease in value. Considering it’s still early, there is potential for the coin to go up as people are merely discovering $PEPE.
Why is Pepe coin considered a controversial cryptocurrency?
Pepe coin’s rapid rise to fame without VC-backing or paid promotions has made it a controversial cryptocurrency. Its value is closely tied to cultural trends, making it difficult for those who lack an understanding of culture to grasp its potential.
