• PEPE Coin is a meme coin built on the Ethereum blockchain.
• It was launched without any pre sales and featured unique features such as zero taxes, a burnt liquidity pool, and renounced contract.
• Its success sparked other copycats, some of which were scams and rugpulls that aimed to exploit investors looking for the next PEPE or SHIB.
What Is PEPE Coin?
PEPE Coin is an ERC-20 token on the Ethereum blockchain. In true stealth launch fashion, PEPE was launched without any presale, and with a unique twist – zero taxes, a burnt liquidity pool, and a renounced contract. This approach was designed to make PEPE a coin “for the people, forever,” according to its official website. Like most meme coins, Pepe Coin had no long-term vision or sustainable roadmap it set out to achieve. Pepe’s goal was simple: Have some fun and establish Pepe’s place as the King of Memes over incumbent dog-themed coins.
Why Did PEPE Price Explode?
The honest answer is no one really knows. While many skeptics believe that the Pepe Coin price explosion was primarily due to speculation from traders looking for easy money in volatile markets, others point to the unique characteristics of Pepe itself – including access to DeFi locked liquidity pools – as key drivers for its meteoric rise in value over just a few days.
What Does Pepe Coin Mean for the Crypto Market?
Pepe Coin has made it clear that meme coins are here to stay – at least until another fad takes their place. The success of Pepe also demonstrates that there’s still plenty of room for innovation in decentralized finance (DeFi), especially when it comes to creating new tokens with unique properties like zero taxes or locked liquidity pools. Moreover, it shows that even relatively inexperienced traders can become overnight millionaires if they play their cards right when investing in volatile markets like crypto assets .
The Dangers of MemeCoin Season
As we mentioned earlier , not all projects spawned by memes are created equal; far from it! As more investors flock towards meme coins wanting in on what looks like easy money , so too do scammers who set out to take advantage of unsuspecting traders . To avoid being taken advantage of , investors should make sure they do their own research into each project before buying into it , particularly taking note of any red flags such as renounced contracts or missing whitepapers .
How To Stay Safe In DeFi Locked Liquidity Renounced Contract Top Holders?
There are several basic tools available online which can help users check if new tokens are safe before investing – these include checking renounced contracts via Etherscan , verifying locked liquidity pools through DeFi Pulse , researching top holders using Whale Alert data , studying project whitepapers if available and reading community reviews . By taking these steps prior to investing into any project , users can improve their chances of avoiding scams while increasing their chance at finding legitimate crypto gems .
Pros & Cons Of Memecoin Season On The Flipside Why This MattersConclusion