Try Quests to earn cryptoThe $PEPE Story
The PEPE token is a newly launched cryptocurrency based on the Ethereum blockchain as an ERC-20 token. The project aims to revive the popularity of memes through its unique Pepe the Frog memecoin. According to the official website, PEPE is considered the "most memeable memecoin in existence" and the "king of the memes." The project team asserts that dog-themed memecoins have had their time in the spotlight and it's now Pepe's turn to reign.
The PEPE token was launched on April 14th, 2023, and has already garnered significant attention. The team behind PEPE believes that the token has the potential to revive the popularity of memecoins and make them great again.
$PEPE's story began on April 14th, when PEPE: Deployer 1 minted a fitting 420,690,000,000,000 $PEPE tokens. The deployer then approved $PEPE for trade on Uniswap V2.
After transferring 29,027,610,000,000 $PEPE to a wallet named, pepecexwallet.eth, the deployer then added liquidity in the form of 391,662,390,000,000 $PEPE and 2 ETH to the newly created PEPE - ETH pool on Uniswap V2.
The $PEPE deployer also performed the first $PEPE swap, trading 195,146,420,924 PEPE for .001 ETH, giving $PEPE an initial valuation of ~$1.02 x 10^11.
The $PEPE token started off with a few days of limited swap volume, averaging less than $50,000 of volume per hour. It wasn't until the Uniswap V3 PEPE-WETH 10000 pool was created on April 17th that trading really started to take off. Once the Uniswap V3 pool was introduced, swap volume began to skyrocket, with millions in $PEPE traded most hours on the 17th. Interest in $PEPE only snowballed from this point on, with a total of 15 liquidity pools created on Uniswap V2 and V3 so far, and swap volume increasing to a peak on April 19th, where just under $20M $PEPE were traded in a single hour.
While 15 liquidity pools with $PEPE have been created on Uniswap V2 and Uniswap V3 so far, the PEPE-WETH 10000 pool on Uniswap V3 has seen the greatest share of swap volume. Over 83% of all $PEPE swap volume has been conducted in the PEPE-WETH 10000 pool. Despite the PEPE-WETH 10000 pools dominance thus far, the PEPE-WETH 3000 pool has proved to be a worthy contender since its introduction on April 19th and actually outperformed the PEPE-WETH 10000 pool in terms of swap volume the past few days. On April 24th, more swap volume occurred in the PEPE-WETH 3000 pool than in the PEPE-WETH 10000 pool.
Interestingly, the original PEPE-WETH Uniswap V2 pool currently has by far the greatest liquidity, with just under $3M worth of $PEPE and WETH, despite the fact that it has very little swap volume compared to the $PEPE Uniswap V3 pools.
The PEPE-WETH 10000 Uniswap V3 pool has around $1M in liquidity, while the PEPE-WETH 3000 Uniswap V3 pool has ~$840K in liquidity.
While many other liquidity pools have been created, most with meme coins such as FEET, SHIB, and APE2, only PEPE-WETH pools have significant liquidity thus far.
Since the price feed began on April 17th, $PEPE's price has increased significantly from under 1e-7 to currently over 2e-7, a far cry from its original price of 1e-11. $PEPE sell pressure has remained relatively matched by buy pressure, with only a few hours significantly over .5, which explains why $PEPE's price has been somewhat stable over the past week, something especially surprising for a meme coin.
One user in particular has made up a large portion of $PEPE's swap volume, jaredfromsubway.eth. This user has swapped over $155M worth of $PEPE, making up just under 30% of the total $PEPE swap volume. No other user comes even close to this percentage, with the next greatest swapping user making up only around 1.8% of the total swap volume. Interestingly, jaredfromsubway.eth is not one of the top $PEPE holders and actually does not currently hold any $PEPE tokens.
jaredfromsubway.eth's portfolio is mostly made up of meme coins, with significant holdings of WEEB, DOGS, and DWI.