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Everyone’s talking about Bitcoin: The world’s oldest cryptocurrency is approaching an all-time high – the price rose above $68,000 on Monday evening, breaking the record of $69,000. But anyone who uses social media has also come across another cryptocurrency that has been trading hotly over the past few days: Pepe Coins; is a young digital currency that is currently causing a huge stir on the internet.
Everyone who has been there since spring 2023 is now a multimillionaire. The price has increased by 500 percent in the last two weeks. What’s behind it? Blick explains the most important questions about Pepe Coins.
What is Pepe Coin?
It is an ERC20 token based on Ethereum, the world’s second largest digital currency after Bitcoin. Pepe is a so-called memecoin, created as a joke based on the Internet meme “Pepe the Frog”.
Who is “Pepe the Frog”?
The character first appeared in the 2005 comic book “Boy’s Club” by artist Matt Furie. Pepe the Frog delighted the internet community with his funny words and spread rapidly on social media such as Myspace and 4chan at that time. Today “Pepe the Frog” is seen, among other things, as a symbol of the resistance of the pro-democracy movement in Hong Kong.
What are Pepe Coins used for?
No. The founding team doesn’t even hide it. They said Pepe Coins are completely useless and are for entertainment purposes only. But the cryptocurrency became an object of speculation within a few days. You can make a lot of money because of the variable price, but you can also lose a lot of money.
Can you get rich with Pepe Coins?
You could. And this is already twice. In 2023, shortly after presale begins April 15. At that time, someone who bought Pepe Coins for, say, 100 francs could sell all the coins for 37 million francs a month later. In that time, the cryptocurrency has increased by 375,000 times.
And now again: plus 500 percent in the last two weeks – plus 700 percent in the last month. Everyone who remains loyal to Pepe Coin has been rewarded.
Who is behind Pepe Coins?
This is unknown. There is no formal team and no specific goal that the founder(s) follow.
Is Pepe the first memecoin?
This phenomenon is not new. Pepe Coins are similar to their famous predecessors Dogecoin and Shiba Inu, which provide no benefit to the owner and are purely for entertainment purposes. Like Pepe Coins, Doge and Shiba Inu are based on characters that became popular on the internet. All memecoins have risen recently, but none have risen as much as Pepe Coin.
Where can you buy Pepe Coins?
The cryptocurrency is already listed on partner platforms. You can already buy Pepe Coins on Binance, the world’s largest crypto exchange. To do this, you need a Binance account to which you can send fiat currency (francs, dollars, etc.). Pepe Coins can then be traded for Swiss francs on the crypto exchange.
Should you buy Pepe Coins now?
Extreme caution is required! Pepe Coins are highly volatile; Investors can lose a lot of money with them. No one knows whether the last price rise is over or not.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
