A new meme coin named after the infamous Pepe the Frog cartoon character has entered the cryptocurrency market, with a market capitalization of just over $130 million. Pepe (PEPE) has become the sixth-largest meme coin asset in terms of market capitalization.
The number of PEPE tokens in circulation is 420.69 trillion, and the top ten wallets command 17.25% of the entire supply, with the top 100 holders owning 44.51%. The PEPE team has big aspirations for the project, including the creation of a "Pepe Academy" and "flipping Bitcoin."
Despite being the latest crypto asset to use the Pepe the Frog name and image, PEPE is not the first. Other Pepe-themed assets include arbi pepe, pepesol, and PEPE.bet. However, the PEPE token website claims that the coin is completely useless and for entertainment purposes only, with no intrinsic value or expectation of financial return.
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