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Pepe the Frog Memecoins Soar 21,000% to Return Massive Gains to Backers

The emergence of new Pepe the Frog memecoins has taken over crypto Twitter in what appears as a new revolution against the order of the iconic Shiba Inu dog-themed tokens. Pepe the Frog memecoins are relatively new but have returned more positive growth to holders in the past week amid a cross-ecosystem embrace of these digital currencies.

The core proponents of the PEPE memecoins are of the opinion that the reign of Dogecoin (DOGE) and Shiba Inu (SHIB) is over and new community-backed memecoins should take over.

“The most memeable memecoin in existence. The dogs have had their day, it’s time for Pepe to take reign,” the team behind the PEPE memecoin wrote on the project’s website.

Despite the fact that the memecoin is new, its popularity has skyrocketed over the course of the past few days as it hinges on its identity behind the popular Pepe the Frog. Worthy of note however is that the PEPE memecoin is not connected to the original creator of the Pepe the Frog character.

At the time of writing, PEPE is up by more than 98% and is changing hands at a price of $0.00000006901. While this performance appears very impressive, the memecoin is seeing a green uptick in several metrics including its trading volume which has jumped by more than 45% to over $42 million over the past 24 hours.

PEPE is a sentimental digital currency that is moving in relation to the BONK token, the first Solana-based memecoin. Earlier in the year, Bonk hinged its own existence on displacing the duo of Shiba Inu and Dogecoin and while it has continued to make strong moves with regards to this goal, its growth tempo and hype has slowed down over the past few weeks.

Memecoins are known to have very high volatilities that are not fated to last very long. While the more than 21,000% the PEPE memecoin has charted will always be in the favor of the early backers, the rate of growth is not likely to be sustained for much longer at this time.

While the hype in current momentum is bound to fade, experts believe the Web 3.0 ecosystem can now no longer do without memecoins and what they offer in the industry.

“Meme coins are huge parts of the crypto trading landscape, whether we like it or not,” James Wo, founder at crypto fund DFG, told CoinDesk at the heights of one such meme obsession. “While the biggest currencies like bitcoin and ether have very low volatility, it’s only natural that traders will look for opportunities elsewhere.”

While Dogecoin and Shiba Inu are currently building a utility that will make them last long, the industry is bound to see some other memecoins make their way into the industry in the near term.

Pepe the Frog Memecoins Soar 21,000% to Return Massive Gains to Backers

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