Pepecoin Dead?
Remember the Pepecoin that features the funny frog face? Let’s find out how it’s doing these days.
Let’s start with the price overview
The dynamics over the year show that the peak observed in May 2023 is nowhere close to coming back. According to Coingecko data, Pepe is now down 73% from its all-time high in May 2023.
Yet, at the same time the plunge that took place in October 2023 is also over with the price going up – though still fluctuating.
PepeCoin price dynamics in the past year. Source: Coingecko
In spite of such tangible fluctuations, – and the fact that in August 2023, it was revealed that around 16 trillion PEPE tokens had been stolen by the coin’s team –the project doesn’t seem to be dead.
In fact, quite the opposite.
On January 1st, a blog was published.
Dubbed Pepecoin: a year in review (2023), it shed light on the coin’s development from the start to this day and was written on an optimistic note.
At the beginning, the authors noted that “before PepeCoin became a reality, its founders were members of a passionate online community of friends sharing information, news, and of course…memes!”
They then tell the story of what it calls the “Great meme wars” in September 2016 when “during the US presidential elections, both political factions extensively employed memes in their political campaigns.” As a result, Pepe found itself “ensnared in the crossfire and unfairly branded as a “hate symbol.”
There are many other details in that long overview, mostly, from the past – but there’s also a description of the current situation.
It includes the fact that Pepecoin has its very own Windows-like product with messengers and games.
We promise to talk about it in greater detail in our upcoming articles.
How does it compare to SHIB and DOGE?
Pepecoin’s analysis almost always goes hand-in-hand with that of its memecoin competitors SHIB and DOGE.
We checked their price performance and here’s what we found out. Shiba Inu’s performance over the year is down -6.3%. The respective number for Dogecoin is -5.7%.
Shiba Inu’s year performance. Source: Coingecko
Dogecoin’s year price performance. Source: Coingecko
Accordingly, it is safe to say that the two memecoins are faring better than Pepecoin as long-term investments. Though they’re likewise subject to high fluctuations.
Previously, GN crypto mulled over whether memecoins are bad or good for crypto.
