The PEPE token is available predominantly on decentralised exchanges on the Etherium network. In particular, the Uniswap trading platform accounts for more than 70 percent of all trading volume with it. As PEPE has seen serious growth in recent days, it has predictably attracted the attention of traders, who have been transacting with it and loading up on Eth’s blockchain.

Against this backdrop, the token was valued at around 100 gwei yesterday. With that in mind, it cost the equivalent of $4 to send Ethers normally, while it cost $11 to send other tokens quickly.

Blockchain capacity overload has traditionally led to an active burning of ETH as commissions. Specifically, over 5,000 Ethers were destroyed during yesterday. Taking this into account, the cryptocurrency’s total supply sank by more than 100 thousand coins compared to September 15, 2022, when this blockchain switched to the Proof-of-Stake consensus algorithm.

How much is being earned from cryptocurrencies

The PEPE token has gained immense popularity in the cryptocurrency fan community just in the last few days. The project is positioning itself as “the most memetic memcoin in history,” and it itself is a reference to the popular internet meme Pepe the Frog.

In fact, “Pepe the Frog” first appeared in 2008 in a Boy’s Club comic strip by author Matt Fury. The anthropomorphic character quickly gained popularity on Facebook, MySpace and 4chan. Since then, Pepe has received many variations and still remains one of the most common symbols of internet culture.

Before the creation of the PEPE token, there were many projects in the crypto industry that made different references to the popular meme, but only this startup managed to achieve serious popularity recently. Its creators have also contrasted PEPE with other popular memcoins like Dogecoin or Shiba Inu.


As a reminder, the so-called "dog tokens" are also based on a popular internet meme, but their road to fame culminated in 2021, when billionaire Elon Musk started actively tweeting about Dogecoin. Musk acquired Twitter last year and still occasionally mentions Dogecoin in his tweets.

He also changed the social platform's logo to DOGE for a few days, which raised doubts among crypto traders about the usefulness of what was happening. Still, such initiatives attract the attention of newcomers, who enter positions after the crypto-asset has risen, and then - when the exchange rate falls - are forced to sell coins and be left with a loss.


According to popular cryptocurrency trackers, the value of PEPE has risen by hundreds of percent in the last couple of days. That said, immediately after listing on decentralized exchanges, the price of the token has already increased by tens of thousands of percent, meaning there was indeed room to turn a few hundred dollars into millions.

Such rapid growth allowed one investor to turn $250 into more than a million in four days. More specifically, he exchanged 0.125 ETH for 5.9 trillion PEPE on a decentralized exchange at just the right moment.

These are indeed impressive figures, but they are only available on paper, assures Conotoxia analyst Grzegorz Drozdz. He commented on the unique investment in an interview with Decrypt journalists as follows.

With 5.9 trillion PEPE tokens in the portfolio, it will take 46,200 years to adequately liquidate these assets – and that’s assuming demand doesn’t decline. Any attempt to exit the position faster could cause the token price to fall even further below the purchase level.


The issue here is liquidity, i.e. the ability of the asset to be sold at a price close to the market price in a short period of time. If the asset is sold quickly and successfully and does not affect its price, it can be considered liquid. If the situation is the opposite, then it is illiquid.

The problem with hype tokens is primarily their poor liquidity. That is, as long as the hype persists and the cryptocurrency is actively traded, it is relatively easy to sell significant amounts of digital assets. However, when the intense growth passes, there are far fewer people willing to buy the token. This means that even if someone has made a lot of money on the coin by then, it may not be possible to get that money by selling it.


Under such circumstances, the trader will be left with selling the asset at the market – that is, at the current rate. And because there may be not many people who want to buy token, the large amount dumped is likely to lead to a significant collapse of the exchange rate. And the “earned millions”, accordingly, will turn into a much more modest amount of money.

This is similar to the case when someone called Gurgavin Chandhoke created a memcoin called Pump Coin, which soared to a capitalization of $4.8 billion. In doing so, the developer owned 99 per cent of the tokens. However, due to lack of demand, he was unable to realise his wealth.

Now the liquidity of PEPE is so low that the investor simply does not have enough buyers who are willing to buy the tokens right now at their market price. Yes, the owner of the coins has become a millionaire, but so far only in a virtual format.

He himself remains anonymous and refuses to give interviews. His story shows that there are opportunities in crypto to create huge capital from almost zero investments, even during a market crash, i.e. the so-called bearish trend. To do that, you need to constantly research the market, take risks in trading little-known tokens and of course have a lot of luck.


We believe that this situation turned out to be positive in any case. Still, what happened confirmed that there are great opportunities to make money now - when the cryptocurrency market is still in a bearish trend in one way or another. And even if a trader gets a notional $50,000 instead of a million, his deal will still be considered great, because earning tens of thousands from a few hundred is still a dream for many crypto enthusiasts. So the only thing left to do here is to hope for the coming bullrun and similar returns once it arrives for all comers.


Look for even more interesting things about crypto in our chat room of ex-wealthy people. There we discuss other important events that affect the digital asset industry in one way or another.