AltThe PEPE memecoin seems to be an extension of cyclical market behavior in the cryptocurrency industry where every now and then, there’s a brand new memecoin, and the hype surrounding it takes over completely.

In less than a couple of months, since it saw the light of day, the PEPE memecoin managed to enter the top 100 projects, getting a market capitalization upwards of a whopping $400 million.

In this guide, we will take a closer look at what the PEPE memecoin is, who created it, and why. We will also look into stories of people who became overnight millionaires and whether or not they can enjoy their riches. Let’s dive in.

What is a Memecoin?

Memes have become hardwired on the Internet. They’ve existed since the very early days of Web1 and will likely continue existing well into the future.

It shouldn’t come as a surprise that they’ve also clashed with the cryptocurrency industry. While most coins tend to focus on some sort of utility, memecoins focus on getting viral through the explosive nature of memes and how quickly they spread.

Examples include Dogecoin (DOGE) – the first memecoin that attracted mass attention and has cemented its place amongst the top cryptocurrencies for many years. Others include Shiba Inu (SHIB), Floki Inu (FLOKI), and so forth.

Last but not least, we have the PEPE memecoin – a cryptocurrency that has also exploded in popularity in a way that, perhaps, no other memecoin has done before.

Brief History of the PEPE Memecoin

The PEPE memecoin was launched towards the middle of April 2023, with the first entry point on Etherscan being April 18th.

Less than three weeks later, the cryptocurrency had a market cap of over $420 million, venturing into the list of the top 100 coins by means of total market capitalization.

At the time of this writing, PEPE is traded on major exchanges such as Huobi, MEXC, OKX, and others. Apart from that, it’s also available on multiple decentralized exchanges such as Uniswap.

What is PEPE Memecoin?

Definition and Background

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