There is literally a PEPE Coin wind in the cryptocurrency market. The meme coin quickly gained attention in the market. However, it turns out that the person behind the cryptocurrency’s associated meme was unaware of the existence of PEPE.
Pepe the Frog meme creator DOGE maxi is out!
Matt Furie, creator of the legendary Pepe the Frog meme, admitted in a Twitter Space post on May 9 that he didn’t know about Pepe despite the token’s recent rise in popularity in the cryptocurrency space. Furie made these statements during a discussion about the new NFT art collection called Zogs. Furie also mentioned that he is a Dogecoin (DOGE) maximalist. In this context, Furie said:
Actually, this is the first time I’ve heard of it. <…> I’ve heard of Ethereum (ETH), I’ve heard of Bitcoin (BTC), and I’ve heard of Dogecoin. Is that a bit? <…> I am a Dogecoin maxi.
Matt Furie is asked what he thinks about the pepecoin, says hes a dogecoin maxi 🤣 pic.twitter.com/RsIoM7Lz2w
— Mike Three (@enjoyoor) May 8, 2023
It is currently unclear whether Furie will seek commercial compensation from the team behind Pepe Coin following his recent confession. The artist has not filed any copyright claims against those who issued the coin so far. Furie had previously taken a firm stand against unauthorized use of the Pepe meme. For example, it forced OpenSea to remove the Sad Frogs District project, which consists of 7,000 frog-based profile pictures, which generated $7 million in trade volume due to copyright infringement.
Meteoric value increase of meme coin
Meme coin is the product of a community-driven effort that was originally created to bring a fun perspective to the world of cryptocurrencies. With this, cryptocoin.com As you follow, PEPE has had a meteoric rise since its inception. In the process, its value increased by almost 5,000,000%. According to a new report published on May 1, the coin surged nearly 120% in a single day. Thus making PEPE the third highest meme coin.
Pepe’s rapid growth can be attributed in part to its listing on various exchanges such as Binance. Because the recent listing on Binance has helped the token price rise to new highs. Thus, PEPE outperformed the broader market in earnings.
As a result, PEPE’s on-chain metrics are also showing impressive growth. Data from Cryptolaxy as of May 10 reveals that PEPE has the highest network growth among cryptocurrencies, based on the number of new addresses transferring the token for the first time. PEPE ranks first with 4,039 new addresses. It is followed by the GALA with 1,392 and the Shiba Inu (SHIB) with 1,089.
Tokens by daily network growth / Source: CryptolaxyCurrently, PEPE is trading at $0.000001857, with a loss of about 5.92% in the last 24 hours. Despite this, it gained 125% last week. Now the focus is on whether the token will be able to sustain this growth or whether the first investors will start withdrawing their money.
