Pepe the Frog Meme coin has returned to the crypto market, experiencing a significant increase of more than 21,000% since its launch on April 16. This has allowed the token to reach a market capitalization of over $33 million, generating over $30 million in trading volume on the decentralized exchange, Uniswap. As of now, 10,000 individual holders have already acquired the token.
The green frog with a human body, known as Furie’s Pepe, first appeared in the 2005 comic, “The Boy’s Club”, and eventually became a popular meme in online culture. The creators of the Pepe token stated on their website that their token is “the most memeable meme coin in existence” and that it is time for Pepe to take reign.
James Wo, the founder of crypto firm DFG, believes that meme coins have had a significant impact on the cryptocurrency trading scene. As major currencies like Bitcoin and Ether have low volatility, traders are inevitably seeking opportunities elsewhere. Despite the risk of trading meme coins for excessive gains, there is still a potential for significant returns.
Therefore, as long as there is money to be made by pushing hot issues, there will always be a market for meme coins in the specialized realm of “s**tcoin” trade, regardless of the concept behind it.