The most degen of Crypto Twitter traders seem to be moving past Shiba Inu-fashioned tokens to those branded after the internet meme Pepe the Frog. Some early $PEPE users have turned a few hundred dollars to six figures on the latest meme obsession.
A pepe token launched Sunday ran over 21,000% in the past three days, raking in $30 million in trading volumes on Uniswap and reaching a market capitalization of as high as $33 million on Tuesday morning.
“The most memeable memecoin in existence. The dogs have had their day, it’s time for Pepe to take reign,” [sic] the Pepe website says.on Tuesday, data from blockchain tracker Etherscan shows, meaning the token was quickly purchased by swathes of investors participating in the ongoing frenzy – and pinning hopes on turning a profit.The tokens have a circulating supply of 420 trillion, a reference to"4/20," another popular cannabis culture slang.
As such, the tokens have no connection to the actual Pepe the Frog meme or Matt Furie, the meme’s original creator. Furie’s Pepe, a green frog with a humanoid body, originated in the 2005 comic Boy's Club. It went viral in the years following, becoming a popular part of internet culture. Crypto Twitter has a knack for jumping on memecoins, mainly after the rise of tokens such as dogecoin and shiba inu – which jumped to tens of billions in market capitalization in the previous bull market.
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