From emoticon packages to market value of 7 billion US dollars, why should Pepe grab the counterfeits’ job?

Author: Day, vernacular blockchain

In recent years, the Meme track in the crypto industry has emerged. With the intentional or unintentional promotion of more and more well-known people such as Musk,Meme has become one of the mainstream crypto tracks and popular narratives.Many encrypted KOLs represented by V God have not supported them at the beginning and have been eased to now and have not deny their value.

Recently, the market value of Meme’s popular “spicy chicken” Pepe has reached more than US$4 billion, with a maximum of more than US$7 billion, and has performed well in this round of market.To this day, many people are still confused about Pepe. Today, let’s discuss how Pepe has come to this day step by step…

01Pepe’s Meme Culture

Looking at the development of Memecoin, most of them use materials with certain historical origins or a certain popularity in the Internet as carriers, and Pepe is no exception.Its name comes from Pepe the Frog, a character created by American cartoonist Matt Furie.It first appeared in his work “Boy’s Club.”

This comic started serializing on MySpace in 2005 and ended in 2010, and has gained some attention on the Internet.There are 4 characters,Pepe frogFor one of them, he won love with his cute image and funny expression.If you play more on the chain, you will also see the other three names (Brett, Andy, Wolf) related to Memecoin on each chain, most of which have been hyped for a while.

Pepe’s popularity path is also similar to that of many popular online products: it initially became popular among the subculture forum 4chan and other niche groups, and then attracted the attention of social network opinion leaders (KOLs) and ignited.It became popular on cultural forums such as Myspace, Gaia Online and 4chan in 2008, and became one of the most popular online popular pictures on social platform Tumblr in 2015.

On social networks, the cost of re-creating and disseminating is relatively low. Pepe emojis and network memes that can cover all emotions can be spread quickly and resonate among netizens.It was originally a character that expressed happiness, but with the secondary creation and reinterpretation of Internet users, it gradually evolved intoA symbol of sadness and despair.This transformation is related to the popularity of self-deprecation and self-deprecation in Internet culture.

People find resonance in Pepe’s sad image and use it as a way to express inner emotions, especially for self-deprecating and expressing dilemmas and setbacks in life.This emoticon package is widely used and has become one of the important symbols in Internet culture.The sad frog is also often popular in Chinese online culture. It has been selected as one of the “Four Heavenly Kings of Mourning” and has become an important symbol for expressing negative emotions and bitter moods.

The evolution of Pepe’s image on the Internet is a very complex and multi-faceted phenomenon.

The grief frog was associated with racial rhetoric and the U.S. presidential election in 2015 and was used to spread extreme information.Some supporters of Trump have taken Pepe as their mark and linked it to anti-political correctness and anti-establishment sentiment.This led to Pepe being misunderstood as a symbol representing “Alt-right” (alt-right) and racial hatred.

This misunderstanding further aggravates the negative impression of Pepe’s image. In order to prevent the frog from being splashed with dirty water, his father Matt Furie chose to end all this and kill Pepe.

In fact, even if the sad frog is “dead”, it still cannot stop it from becoming popular among netizens. As a widely used emoticon package, everyone can freely use it to express their inner emotions, including sadness or depression.

02Pepe Token

Thanks to the rapid rise in popularity of Pepe Frog and the extensive media exposure,Pepe Token (PEPE) was born in April 2023.It has quickly become one of the investment targets of many virtual currency enthusiasts.In just one month, PEPE’s market value exceeded US$400 million, making it among the top 100 cryptocurrencies.

PEPE’s original intention was to resist the complex Token economic model of the “Puppy Series” Memecoin.It hopes to return to Memecoin’s entertainment spirit, thus avoiding complex operations such as pre-sales, destruction and taxation in its Token economics.PEPE’s goal is to surpass other Memecoin and become a leader in the Memecoin field.

In addition, PEPE also borrowed the campaign slogan “Make America Great Again” by former US President Trump and adapted it into “Make Memecoins Great Again”.

PEPE’s market operations have adopted strategies to attract the attention of the cryptocurrency community, including the development of tax exemptions, a redistribution system that rewards long-term holders, and the deflation mechanism to maintain the scarcity of the token.PEPE is closely linked to the MAGA (Make America Great Again) culture and tries to transform this development into a narrative driving force for Token growth.

At present, the development of PEPE has exceeded the team’s expectations. After the online BN is adjusted, it has begun to rise again. The market value has recently exceeded US$7 billion in the short term, and has recently declined. The recent wave of rise should also be related to Trump’s cryptocurrency remarks. Through the aboveUnderstand, we can see that Pepe’s development is also related to Trump.

03Why can pepe get up

There have been many local dogs before PEPE came out, but only the current Pepe has reached its current height. Let’s briefly sort out how PEPE has reached today:

PEPE attracted the attention of some big players and teams in the early stages of its launch.By analyzing the capital flow of DEX, these big investors discovered the incubation period of PEPE and began to establish positions.In addition, some early buyers also hold NFTs related to PEPE, which may be related to the initial team. In addition, the PEPE team will block the address of buying PEPE at a very low price to obtain huge profits in the early stage, and then give up the contract permissions.

On Twitter, PEPE discussions suddenly increased on April 17,Some small and medium-sized key opinion leaders (KOLs) have begun to discuss and promote PEPE,And it caused heated discussion on social media.At the same time, Google search volume has also begun to rise since the end of April, indicating that PEPE has begun to attract more widespread attention.

Shortly after its launch, PEPE Token was soon launched on several CEX/DEXs, including Gate, OKEx, Matcha and BN.These online processes are accompanied by the rise in Token prices.After launching BN, some users made profits, and the team cashed out and the team was unevenly distributed, resulting in a sharp decline in PEPE.Half a year after the correction, as anti-VC remarks intensified, the popularity of the Meme track soared again, and PEPE also broke through a new high again and faintly became the new leader of Meme.

A brief summary of the reasons:

Team: Super capable team, with a top marketing team.In the early stage, some influential KOL promotions were joined by the company and the resources on the institute.

Rising Story of Rising: The story of Rising Story of Early PEPE holders spreads across social media and cryptocurrency communities.These stories involve the situation where PEPE coin holders obtain huge profits in a short period of time, which aroused the interest and curiosity of others.

FOMO sentiment: People have been looking for the next potential surge token after experiencing crazy rises in Memecoins such as Dogecoin and SHIB.The emergence and rapid growth of PEPE has caused people to miss out on their emotions, and are afraid to miss opportunities like the hundred times and thousand times Memecoin again.This kind of missed emotion has led to more and more people purchasing PEPE, forming a self-reinforcement cycle.PEPE attracted more than 100,000 coin-holding addresses within less than a month of issuance.

Promotion of CEX/DEX: Trading platforms play an important role in the development of PEPE.PEPE will soon be launched on some well-known platforms in a short period of time, such as MEXC, BN, OKX and HTX.It is probably because we saw that PEPE reached 100,000 coin holding addresses in a short period of time. This popularity has attracted the attention of trading platforms and caused more users and funds to flow into PEPE.

The above is the reason why PEPE can be developed. From this, we can see that the current gameplay of some Memecoin is similar. If you have different opinions, please leave a message to add it.