Meme Coins Evolve to 3rd Generation with Dogecoin's Success... Pepe Coin Surges 333% in 3 Days

Top Daily Trading Volume Among Meme Coins... 8th Overall
Interest in Dogecoin and Shiba Inu Success... Beware of Volatility and Exit Scams Risks

Meme coins, represented by Dogecoin, are virtual assets created using popular images or videos circulating online, characterized by being issued for entertainment purposes. However, as Dogecoin, the first-generation meme coin, maintained a high market capitalization ranking, the third-generation Pepe Coin has emerged, attracting market attention.

Pepecoin was created through the frog character Pepe.

According to the global cryptocurrency market tracking site CoinMarketCap, as of 3:24 PM on the 2nd, Pepe Coin was trading at $0.0000013, up 19.76% from the previous day. Until the 29th of last month, it was only around $0.0000003, but it surged about 333% in just three days.

Although the price per coin is low, it also records a high trading volume ranking. According to data from the virtual asset market tracking site CoinGecko, Pepe Coin had the highest daily trading volume among all meme coins. Its daily trading volume was $415.98 million (approximately 558.2 billion KRW), exceeding Dogecoin’s daily trading volume of $374.23 million (approximately 502.2 billion KRW). In terms of market capitalization, Pepe Coin’s $500 million is negligible compared to Dogecoin’s $11 billion, but Pepe Coin’s daily trading volume is more than $40 million higher. Additionally, Pepe Coin’s daily trading volume was more than 2.6 times that of Shiba Inu, a meme coin with a market capitalization of about $5.9 billion, which had a daily trading volume of $154.79 million. Expanding the scope to all virtual assets, Pepe Coin ranks 8th in daily trading volume.

Pepe Coin was launched on the 16th of last month (local time) and refers to a virtual asset created using Pepe, a frog character used as a meme both overseas and domestically online. Due to the nature of meme coins, there is high price volatility and risks of investment scams such as "rug pulls," so investors need to exercise caution. The creator of Pepe Coin has not been disclosed yet. However, since its launch, the price has continued to rise, and interest in the Pepe character has persisted, resulting in price increases and trading volume growth.

Furthermore, the success of the existing first-generation meme coin Dogecoin and the second-generation Shiba Inu is cited as a factor attracting investor interest in the third-generation Pepe Coin. Dogecoin ranks 8th in market capitalization among all virtual assets. It symbolizes the Japanese Shiba Inu dog that was popular online and was created to mock the cryptocurrency craze, but it is now considered to have surpassed meme coins. The Dogecoin Foundation is developing the platform by establishing policies for ecosystem development, participating in reliability verification, and utilizing staking with a proof-of-stake (PoS) method that rewards coins. Also, due to its association with Elon Musk, CEO of Tesla, it still exerts significant influence in the market.

The success of Shiba Inu, another meme coin issued as a "Dogecoin killer," is also a reason for the growing expectations for Pepe Coin. Shiba Inu, based on the Ethereum chain, was created for entertainment purposes. Subsequently, work on building its own ecosystem has been underway. It ranks 16th in market capitalization among all virtual assets, and its foundation created a decentralized exchange (DEX) called ShibaSwap. Additionally, it has formed a DAO (Decentralized Autonomous Organization) and established policies for ecosystem development.