⚫️ $PEPE meme coin hit a $1 Billion market cap
One of the derivatives of the last few weeks of Pepe the frog, and which has been getting a lot of attention from the crypto space, was the launch in the middle of April 2023 of the $PEPE meme coin.
Meme coins are crypto currencies that are based on internet memes, often promoted by influencers or major figures in the space such as Elon Musk. While meme coins have been met with both investor attention and skepticism due to their perceived lack of seriousness, they still hold the potential for investors to earn substantial profits.
The token has a circulation supply of over 420 trillion coins and was deployed and founded by an anonymous user. The meme coin made its debut on April 16th this year.
The $PEPE token went from a low-budget meme project to being valued at well over $1 billion - if it were a Silicon Valley start-up, we'd be looking at a Unicorn. This all happened in the space of four weeks. Only in the crypto space do things move so quickly, and we often get left scratching our heads trying to figure out what happened.
Just as the hype began to die down and the whales took their profits Binance, the world's largest crypto exchange, announced they would list $PEPE. So everyone with a Binance account could now trade the token.
Eventually, the added benefit of the $PEPE coin is that it puts more emphasis on the engagement and development of the community. The main holders, acts as a community and tries to develop and encourage a strong and very supportive community as they engage with the users on a consistent basis through social media platforms.
And this active community development and full commitment to the users ensure that $PEPE coin stands out among its peers.
One of those examples of union and strength of the community, was when Coinbase has come out with an apology for its recent newsletter suggesting Pepe the Frog was a “hate symbol.”
Chief Legal Officer Paul Grewal issued the mea culpa shortly after #DeleteCoinbase trended on Twitter with hundreds of thousands of tweets, many of them from customers vowing to delete the app and close their accounts.
Grewal wrote on Twitter, “We screwed up and we are sorry. Yesterday we shared an overview of the $PEPE meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.”
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