Tag: pepe coin

What is Pepe Coin?

Overview

Pepe Coin (PEPE) is a deflationary meme coin launched on the Ethereum blockchain. It was created as a tribute to the Pepe the Frog internet meme, which gained popularity in the early 2000s. The project aims to capitalize on the popularity of meme coins like Shiba Inu and Dogecoin, striving to establish itself as one of the top meme-based cryptocurrencies.

Key Features

No-Tax Policy: PEPE appeals to the cryptocurrency community by instituting a no-tax policy. PEPE ensures a cost-effective trading experience by not levying any transaction fees for buying or selling the token. This means that traders won’t incur any extra charges payable to the project when conducting transactions.

Redistributive System: A fraction of each transaction is allocated to current token holders, fostering user participation and promoting sustained investments. It rewards long-term stakers.

Burning Mechanism: A burning mechanism is implemented to maintain the scarcity of the PEPE coin.

Three-Stage Roadmap: Phase 1: Embrace the Meme; Phase 2: Cultivate the Vibe and Encourage HODLing; Phase 3: Achieve Meme Takeover.

Key Basic Data and Price History

Total Token Supply: 420,690,000,000,000 PEPE tokens.

Token Distribution: 93.1% of the tokens were allocated to the liquidity pool to ensure stable trading, LP (Liquidity Provider) tokens were burnt to create scarcity, and the contract is renounced, signifying a commitment to the project’s stability. The remaining 6.9% is reserved for CEX (Centralized Exchange) Listings to facilitate trading on major platforms.

Launch: Pepe Coin was quietly introduced in mid-April 2023.

Initial Price: It began trading at around $0.0000002823 on April 19, 2023.

All-Time High: The coin reached an all-time high of $0.00000439 on May 05, 2023, the first day it was traded on Binance.

All-Time Low: The lowest price was $0.000000055142, recorded on April 18, 2023.

Market Cap High: From late April to May 2023, the market cap soared to a high of around $1.6 billion, reflecting significant interest in the coin.

How to Buy Pepe Coin

If you’re wondering where to buy Pepe Coin, there are various channels available.

Centralized Exchanges: PEPE tokens can be traded on centralized crypto exchanges like Binance, Kucoin, and Kraken. These platforms offer a user-friendly way to purchase Pepe Coin.

Decentralized Exchanges: You can also buy Pepe Coin via Uniswap, a popular decentralized exchange. This option provides a more decentralized trading experience.

Crypto Wallet: To trade $PEPE, you’ll need a crypto wallet. For mobile Users, you need to first download MetaMask or another wallet of your choice from the App Store or Google Play Store for free. For desktop Users, download the Google Chrome extension for MetaMask or another wallet by visiting the respective website. Ensure you have ETH (Ethereum) in your wallet to switch to $PEPE. If you don’t have any ETH, you can purchase it directly on MetaMask, transfer it from another wallet, or buy it on another exchange and send it to your wallet.

Comparison with Dogecoin

Despite its initial success, Pepe Coin has yet to come close to dethroning or rivaling Dogecoin in any meaningful way. Replicating the success of Dogecoin is considered highly unlikely for Pepe or any new meme coin.

Future Price Predictions

Some may wonder if the Pepe Coin price will ever reach $1, or if it’s even possible for it to reach that milestone. To understand this, let’s consider the numbers:

Total Token Supply: Pepe Coin’s total token supply is 420,690,000,000,000. If each token were to reach $1, the total market capitalization would be $420.69 trillion.

Comparison with U.S. Stock Market: As of June 30th, 2023, the total market capitalization of the U.S. stock market is $46.2 trillion.

Given these figures, it becomes clear that Pepe Coin reaching a price of $1 per token would result in a market capitalization nearly ten times the entire U.S. stock market. Therefore, it is safe to conclude that, in any realistic scenario, it is impossible for Pepe Coin to reach a price of $1.

Conclusion

Pepe Coin represents a unique entry in the meme coin space, leveraging popular internet culture and innovative tokenomics. While it has seen significant growth and attention, its future trajectory remains uncertain, and potential investors should approach it with caution and conduct thorough independent research.

Pepe Coin Official Telegram Hacked

According to an official statement on Pepe coin’s Twitter account, the coin’s Telegram group encountered a major security breach. The group’s owner’s old account was compromised, leading to the group’s takeover. As a result, the group has been locked down, with efforts underway to regain access or potentially establish a new communication platform.

Meanwhile, all official communications for $PEPE have been channeled through the @pepecoineth Twitter account. The community has been urged to remain vigilant, especially concerning potential scams, including those involving airdrops, staking, mints, and claims.

However, the hacking announcement was met with skepticism from some quarters. A Twitter user, Rikka (@bimmy_5), raised questions about the simultaneous hacking of the Telegram, Discord, and Twitter accounts associated with $PEPE. Rikka’s tweet alluded to a potential internal betrayal, suggesting that certain individuals might have cashed out an estimated $16M.

Another Twitter user, FireMooN (@Fatboy316931), issued a cautionary note to $Pepe holders. He warned that if there’s a hack, someone might be attempting to flee the scene. He also made a promotional pitch for $mong, suggesting it as an alternative for those looking to safeguard their investments.

Before the community could fully digest the hacking news, another revelation emerged from Pepe’s official Twitter. On August 24th, 2023, Pepe disclosed a series of unexpected transactions. Approximately 16 trillion $PEPE tokens, equivalent to about $15m USD, were transferred from the $PEPE multisig CEX Wallet to various prominent crypto exchanges. This move was unanticipated and raised a series of concerns within the community. The multisig wallet, initially set up to require 3 out of 4 signers for approval, saw three ex-team members allegedly transfer 60% of the tokens to exchanges for sale. These individuals then reportedly removed themselves from the multisig, leaving a message indicating a change in control. Pepe expressed shock at these actions and apologized to the community for the fear, uncertainty, and potential losses caused by these transactions.

Before Pepe Coin official announcement, Zachary Testa, known online as @degenharambe and @LordKekLol, has been identified as being associated with the $PEPE coin. Testa reportedly purchased an $865,000 purple Lamborghini using his earnings from the coin. This purchase has garnered attention, especially since Matt Furie, the original creator of Pepe the Frog, did not benefit financially from the coin’s success. Testa’s team allegedly had connections with major cryptocurrency exchanges, leading to the coin’s listing on platforms like Binance.

The unfolding events surrounding the $PEPE coin highlight the challenges and vulnerabilities in the cryptocurrency domain. While it offers vast opportunities, it’s not devoid of risks. Security breaches, potential internal betrayals, and unforeseen transactions can quickly erode trust.

For stakeholders and investors in the $PEPE coin, the current situation underscores the importance of staying informed through official channels. It also emphasizes the need for due diligence, security, and transparency in all crypto dealings. As the situation continues to evolve, the crypto world will be keenly watching how the $PEPE coin community navigates these challenges and the steps it takes to restore trust and confidence.

Not Larva Labs Founder Pauly: Pepe Coin Announcement is 100% Bullshit

The cryptocurrency community is in a stir following a recent announcement from the official $PEPE coin account detailing unexpected transactions. On August 24th, 2023, approximately 16 trillion $PEPE tokens, valued at around $15m USD, were transferred from the $PEPE multisig CEX Wallet to various crypto exchanges. The required signer count was also altered. The announcement delved into internal conflicts within the $PEPE team, pointing fingers at bad actors and greed.

However, the announcement was met with skepticism. Not Larva Labs Founder Pauly (@Pauly0x) responded sharply, stating, “This little fuck @degenharambe just implicated himself in major financial crimes. He is in deep shit now.”

Another user, CryptoNoddy (@Crypto_Noddy), highlighted potential inaccuracies in the official statement, pointing out, “In my opinion, there are several misleading/incorrect statements made here. Firstly, there is not one signer remaining. The multisig remains a 2/8, having been decreased from 5/8. No signers have been removed. It has not been updated other than the threshold changing to 2.”

The official $PEPE statement painted a picture of a coin marred by internal strife since its inception. It alleged that a majority of the team began distancing themselves shortly after the project’s launch, obstructing progress due to disagreements. The multi-sig, initially requiring 3 out of 4 signers for approval, saw three ex-team members allegedly transfer 60% of the tokens to exchanges for sale, subsequently distancing themselves from the project.

The announcement expressed shock at these actions and extended an apology to the community for the ensuing fear, uncertainty, and potential losses. It emphasized that the CEX-wallet tokens were never intended for sale on the market. The announcement also assured the community of the safety of the remaining 10 trillion tokens.

In response to the events, plans were shared to transfer the remaining tokens to a new wallet, with intentions to burn any residual tokens after potential purchases or donations. The aim is to position $PEPE as a decentralized meme-coin asset.

Following the official announcement by Pepe coin, the cryptocurrency experienced a short-term surge of over 10%. However, shortly after this spike, $PEPE witnessed a pullback in its value.

After Pepe explained the circumstances surrounding the Pepe token transfer, the official Twitter account announced that its Telegram account had been hacked.

While the official statement seeks to provide clarity, reactions from community members like Pauly and CryptoNoddy underscore the challenges and trust issues in the cryptocurrency domain. As events continue to unfold, the crypto community will be keenly observing the next steps for $PEPE and its team.

Early PEPE Coin Investor Suffers 43.4% Loss in Recent Trade: What the Data Reveals

An early crypto trader known as 0x025, previously operating under the alias pepeworldorder.eth, sold 263 billion $PEPE tokens for 226,000 $DAI. The sale occurred at a rate of $0.00068591 per token, resulting in a loss of $174,000, or a 43.4% decrease in value. The transaction took place five hours ago and marks the trader’s second $PEPE deal, which closed at a loss after 52 days. This move comes with a backdrop of controversies surrounding the $PEPE coin, including founder scandals and allegations of insider trading.

The Two Cycles of 0x025

According to data provided by Spot On Chain, 0x025 has been involved in two significant trading cycles concerning $PEPE tokens:

First Cycle (April 17 to May 31)

Initial Investment: Bought 3.7 trillion $PEPE tokens with 329 $ETH.

Sale: Sold the 3.7 trillion $PEPE tokens for 1,744 $ETH.

Profit: Earned a return of 1,415 $ETH, equivalent to approximately $2.61 million at current ETH prices.

ROI: The return on investment was 429%.

Second Cycle (Since July 10)

Initial Investment: Bought 263 billion $PEPE tokens with 400,000 $USDT at an average rate of $0.00000152 per token.

Current Status: Closed the deal at a loss of $174,000.

The data reveals a stark contrast between the two cycles, with the first being highly profitable and the second resulting in a loss.

Founder Zachary Testa Identified

Zachary Testa, known online as @degenharambe and @LordKekLol, was recently identified as the founder of $PEPE coin. Testa reportedly purchased an $865,000 Lamborghini using his earnings from the coin, drawing attention as the original creator of Pepe the Frog, Matt Furie, did not financially benefit from the coin. Testa’s team also had connections with major cryptocurrency exchanges like Binance and SushiSwap, leading to the coin’s listing on these platforms.

Insider Trading Allegations

On August 24, 2023, approximately 16 trillion $PEPE tokens were transferred from the $PEPE multisig CEX Wallet to various crypto exchanges. The required signer count for the wallet was also altered, sparking allegations of insider trading.

Market Implications

The sale by 0x025 and the surrounding scandals could be indicative of $PEPE price trends. While the trader made a significant profit in the first cycle, the loss in the second cycle might signal a shift in market sentiment.

The crypto maret is fraught with volatility and scams, as demonstrated by the contrasting trading cycles of 0x025 and the ongoing scandals surrounding $PEPE coin. 

One Pepe Coin Whale Liquidates Holdings as Another Opens $PEPE Ethereum Pool

Whale 0x9da’s Significant Swap

In a notable transaction today, an early crypto buyer identified as 0x9da executed a significant swap of 452.911B $PEPE tokens for 194.31 Ethereum ($ETH) at a rate of $0.0000006961 per $PEPE, amounting to a total of $315K, according to SpotOnChain.

This move comes after the whale’s initial accumulation of the $PEPE tokens from the Huobi exchange at an average rate of $0.0000002198, costing them approximately $99.55K on April 27, 2023. The recent swap resulted in an estimated profit of $216K, marking a 216% increase.

Source: Etherscan

Transaction details for the 0x9da swap are as follows:

Transaction ID (txid): 0xe69688c740916a67a417f33039d943aba1979245d758ce93b15e347ce46994ec

Address: 0x9dae76f6683d0d5a11c0ab4fb57d699ad4d78079

Whale 0x3ae’s Liquidity Pool Creation

Just an few hours before the aforementioned transaction, another crypto whale, 0x3ae, established a liquidity pool. This involved a massive 5.71T $PEPE tokens, equivalent to $4.13M, and 508 Ethereum ($ETH).

Details of the 0x3ae liquidity pool creation are:

Transaction ID (txid): 0x603c844db097ba7e63c4f8027b2b9a99e894a2fe0a3dc493af10767e22dcdf23

Address: 0x3aea201a16969012955071296eC207a351EAdC9f

At the present ETH valuation, the Pepe coin stands at $0.0000007231. The exchange rate for PEPE to ETH is set at 11,240,157,480 $PEPE for every $ETH. Should Bitcoin’s decline halt, the current Pepe price might offer profitability. However, if both BTC and ETH were to depreciate in the future, it would be strategic to go long on PEPE while simultaneously shorting ETH.

Pepe Coin Hits Lowest Price Today Since Binance Listing

Today, Pepe Coin (PEPE), inspired by the iconic Pepe the Frog meme, as reported by Blockchain.News, has hit its lowest price since its Binance introduction on May 5, 2023. After soaring to a high of $0.00000439, PEPE’s value plummeted to $0.00000082 by June 15, mirroring Bitcoin’s decline to $24,800. Today, the coin’s trajectory took a steeper dive, registering an 8% decrease, punctuated by a startling 10% drop within just a minute.

This decline isn’t isolated. The crypto market is on shaky ground, with looming predictions of Bitcoin potentially nosediving to $20,000. Adding to the market’s jitters are unsettling events like the compromise of Ethereum Founder, Vitalik Buterin’s Twitter, and security breaches on PePe X’s social platforms. Given that many altcoins, including Pepe Coin, are built on the Ethereum blockchain, such incidents have a cascading effect.

Further muddying the waters are past allegations tied to Pepe Coin, from potential scams to insider trading. The unveiling of its previously anonymous founder, linked with a criminal past, has undoubtedly shaken investor trust. Amidst this tumult, the crypto community watches closely, as PEPE’s future in this volatile market hangs in the balance.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

Pepe Coin Hits Lowest Price Since Binance Listing

Pepe Coin (PEPE), deriving its theme from the popular Pepe the Frog meme of the early 2000s, registered a decline in its value today, reflecting the broader Bitcoin downturn.

The Dynamics in Depth

After its Binance debut on May 5, 2023, PEPE surged to its zenith of $0.00000439. This performance was followed by a drop to $0.00000082 by June 15, 2023, a time when Bitcoin also registered a decline to $24,800. Post this drop, PEPE showcased a gradual uptrend, culminating at $0.0000019 by July 13. However, after this July peak, the coin began its descent, following the overall correction observed in Bitcoin. Today’s stats narrate a challenging day for PEPE. Its value experienced an approximately 8% reduction, with a volatile amplitude of 13%, including a swift 10% drop within a solitary minute.

Factors at Play

The entire cryptocurrency market remains fragile, with predictions suggesting Bitcoin could soon dip to $20,000. Pessimistic sentiments may intimidate traders.

The current tumult in the altcoin market can be partially attributed to the reports surrounding the compromise of Ethereum Founder, Vitalik Buterin’s Twitter account. Given that a substantial number of altcoins, Pepe Coin included, have their foundations on the Ethereum blockchain, such events often ripple through the market.

Compounding this uncertainty, as reported by Blockchain.News, social platforms of PePe X, especially its presence on the former Twitter and Telegram, were reportedly breached.

Adding to the mix of concerns are past allegations linked to Pepe Coin. These include potential involvement in scams and insider trading. Furthermore, the unveiling of its previously anonymous founder, who possesses a checkered past with criminal affiliations, has surely impacted investor sentiment.

A Glimpse into Pepe Coin

Token Layout: The colossal total of 420,690,000,000,000 PEPE tokens is structured with 93.1% dedicated to the liquidity pool. This aims to foster trading stability. The residual 6.9% is allocated for CEX listings, a step toward integrating with mainstream trading platforms.

Performance Metrics: Initiated at $0.0000002823 on April 19, 2023, PEPE’s market cap burgeoned to an impressive approximate of $1.6 billion between late April and May 2023.

Procurement Pathways: Potential investors can look toward centralized exchanges like Binance, Kucoin, and Kraken. Decentralized trading platforms like Uniswap also offer PEPE. Regardless of the route, a crypto wallet endowed with Ethereum is mandatory for transactions.

Looking Forward

In the capricious world of cryptocurrencies, Pepe Coin’s future seems intertwined with multifarious determinants. As stakeholders and analysts keep a close watch, the evolving saga of PEPE in this volatile market remains a topic of intrigue.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

Pepe Coin Shows Bullish Indicators After an 80% Decline

Pepe coin is displaying potential signs of resurgence, after a tumultuous period characterized by an over 80% drop in value and scandals involving insider trading and scams linked to its founder. Technical indicators across different time frames hint at a possible bullish momentum for the cryptocurrency.

Technical Analysis: Both RSI and MACD Indicate Bullish Momentum

Daily Time FrameOn the daily chart, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are displaying bullish divergence. Such patterns typically indicate a potential reversal in price trends.

RSI Divergence, Source: Binance

A bullish RSI divergence occurs when the price of an asset makes a new low, but the Relative Strength Index (RSI) creates a higher low. This discrepancy suggests weakening downward momentum and a potential upcoming price reversal to the upside. Traders often view this pattern as a sign that the current downtrend may be losing steam, and a bullish trend could be on the horizon.

MACD Divergence, Source: Binance

1-Hour Time Frame: Similar bullish divergence patterns are also evident on the 1-hour chart, reinforcing the sentiment suggested by the daily indicators.

RSI Implications: The RSI, a momentum oscillator, is particularly noteworthy. When there’s a bullish divergence on the daily time frame, it often signifies a strong requirement for a bounce, which may not be short-lived. This could mean that Pepe coin might see a more sustained recovery in the coming days or weeks.

Pepe Coin Remains Within a Descending Channel

But please note that the Pepe coin’s price trajectory continues to be characterized by a descending channel, signaling a consistent downward trend over a period. Investors and traders should approach this with a degree of caution, as such patterns often indicate sustained bearish momentum. To shift this narrative and indicate a potential bullish turnaround, the price would need to achieve a significant milestone: breaking above the descending channel.

Descending Channel, Source: Binance

More importantly, after surpassing this boundary, it’s crucial for the coin to maintain its position and firmly establish itself above the upper boundary of the channel. This would provide a stronger confirmation of a trend reversal, offering a more optimistic outlook for the cryptocurrency’s future performance.

While current market indicators suggest an anticipated bounce in the Pepe coin’s value, it’s essential for investors to tread with caution. As the price inches closer to the upper boundary of its descending channel, historical data and technical patterns indicate this as a potential resistance zone. In such scenarios, the upper bound often acts as a ceiling, making it challenging for the asset to break through. Given this, for investors aiming to maximize returns and minimize potential downturns, it might be a strategic move to consider selling or reducing their holdings as the price approaches this critical threshold.

A crucial caveat to consider is that if Bitcoin experiences a downturn, most other coins, including Pepe, are likely to follow suit. Pepe’s potential bounce is also closely tied to Bitcoin’s future price trajectory. Furthermore, while the presence of bullish divergence is promising, there are instances where a double bullish divergence is required to reinforce a bounce, especially for coins that have witnessed significant declines.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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