Pepe

Pepe the Frog, created by Matt Furie in 2005, is a green anthropomorphic frog with a humanoid body. It originated in Furie's comic "Boy's Club," where Pepe was depicted as a laid-back character often accompanied by the phrase "feels good man." Initially, Pepe was an apolitical character, but it gained popularity as an internet meme across platforms like Myspace, Gaia Online, and 4chan.

Over time, Pepe's image was modified and used in various contexts, including "Sad Frog," "Smug Frog," and "Angry Pepe." However, in 2015-2016, the character was co-opted by the alt-right movement, leading to its inclusion in the Anti-Defamation League's (ADL) hate symbol database. Despite this, Furie has emphasized that most instances of Pepe were not used in a hate-related context.

In 2019, Pepe was used by protesters in the Hong Kong protests as a symbol of liberty and resistance, which Furie welcomed as a positive use of his character. Today, Pepe remains a recognizable and familiar sight on social media platforms, often used in custom emoji forms.

Pepe (PEPE) is a memecoin built on the Ethereum blockchain. It was launched in April 2023 and gained rapid popularity, boasting a market capitalization of $5 billion. Here's how it works:

1. Deflationary Mechanism: With each transaction, a small percentage of tokens is burned, aiming to create scarcity and potentially drive up the value of the remaining tokens over time. This mechanism ensures a diminishing supply, which can increase the token's value.

2. Redistribution System: Initially, a portion of every transaction was redistributed to existing token holders, fostering engagement and incentivizing long-term investment. However, there have been discussions about discontinuing this feature.

3. No-Tax Policy: Pepe Coin transactions do not incur additional fees, ensuring users can trade and transact without any extra costs. This policy promotes ease of use and accessibility for users engaging in Pepe Coin transactions.

4. ERC-20 Token: PEPE exists as an ERC-20 token built on the Ethereum blockchain. As a result, Ethereum’s network of proof-of-stake validators process PEPE Coin transactions, and Ethereum gas fees apply when buying, selling, and transferring PEPE coins.

Pepe the Frog, the character behind the meme, was created by artist Matt Furie for his comic book "Boy's Club." It gained widespread popularity across social media, with various iterations like "Sad Pepe" and "Rage Pepe." Despite controversies surrounding the character, the Pepe Coin community remains passionate and loyal, driving its popularity.

The Pepe project has a roadmap with three phases:

1. Initial Launch Phase: Includes listings on CoinGecko and Coinmarketcap, and increasing the project's social media presence.

2. Community Partnership and Centralized Crypto Exchange (CEX) Listing Phase: Onboarding new partners, listing PEPE coins on CEXs, launching a dedicated newsletter, and opening a members-only Discord community.

3. Pepe Meme Takeover Phase: Introduces Pepe merchandise, new Pepe tools, and a Pepe Academy. The team also hopes to achieve more crypto exchange listings and increase the number of Pepe holders to over 100,000.

Pepe (PEPE) operates on unique principles, including a deflationary mechanism, redistribution system, and no-tax policy. Its strong community and viral meme status have made it a significant player in the cryptocurrency market.

Pepe (PEPE) has several strengths that contribute to its popularity and potential for growth:

1. Strong Community: PEPE has a large and active community of over 200,000 holders, making it one of the largest meme coins by wallet holders. This community support is crucial for the token's success and market demand.

2. No-Tax Policy: Unlike some meme coins, PEPE transactions do not incur additional fees, promoting ease of use and accessibility for users engaging in PEPE transactions.

3. Borderless and Fast Transactions: As a cryptocurrency, PEPE enables borderless, cheap, and fast digital transactions, making it a convenient means of transferring value.

4. Community-Driven Internet Culture: PEPE's virality in meme and internet culture has allowed it to transcend its comic book origins and establish itself as a significant cryptocurrency. This cultural relevance helps drive its market demand and value.

5. Tokenomics and Utility: The tokenomics of PEPE are designed to promote sustainable growth, reward participation, and ensure the long-term viability of the ecosystem. PEPE tokens serve multiple utilities within the ecosystem, including governance, staking, and access to exclusive content and features.

6. Incentivizing Behaviors: PEPE is used to incentivize behaviors that contribute to the network's growth and stability, such as staking, governance, and participation in decentralized applications (dApps).

These strengths collectively contribute to PEPE's resilience and potential for growth in the cryptocurrency market.

Pepe (PEPE) is facing several risks that could impact its price. One significant risk is a potential 40% correction by June, which is hinted at by a "bearish divergence" between its rising prices and falling daily relative strength index (RSI). This divergence is similar to the pattern seen before a 40% crash in January. Additionally, PEPE's daily RSI has crossed over 70, indicating an overbought area that typically precedes a period of price correction or consolidation.

Another risk is the ongoing profit-taking activities of PEPE's wealthiest investors, known as "whales." These whales have been selling at local price peaks, which could further increase the likelihood of a correction. While some traders have withdrawn millions of dollars worth of PEPE tokens from exchanges, indicating their intention to hold the memecoin, the overall impact of these withdrawals on the whale supply data is yet to be seen, adding to the correction risks.

Furthermore, recent data suggests that PEPE is experiencing significant selling pressure, causing the price to drop nearly 20% from its peak. This selling pressure could continue to put downward pressure on the price.

Despite these risks, Pepe has received a low risk rating from InvestorsObserver analysis, which evaluates how much money was required to move the price over the past 24 hours, along with recent changes in volume and market cap. This low risk rating suggests that the token is less susceptible to manipulation by limited trading.

• Zachary Testa: Alleged founder of Pepe Coin, known as z (@degenharambe) and Lord Kek (@LordKekLol) on Twitter.
• Matt Furie: Original creator of Pepe the Frog, a cartoon character from his comic book "Boy's Club" published in 2005.
• Pauly (KOL Pauly): Twitter influencer who revealed Zachary Testa as the true founder of Pepe Coin, with over 150,000 followers on Twitter.
• Anonymous Team Member: The lone team member who issued a statement regarding the massive transfer of coins to crypto exchanges and is now in control of the project.