Opinion: Down with the dog, up with the frog? PEPE is the newest crypto memecoin community — and it has teeth.
There have been thousands of meme tokens since Dogecoin. Shiba Inu at one point surpassed Dogecoin in market cap, a huge victory for the dog token that missed out on the first-woofer advantage.
A desire to fight back and stick it to the man! The overriding sentiment during the Twitter Space was that PEPE holders want to fight back against the VCs. It’s a shame GameStop was not able to trademark that narrative! However, in the PEPE Telegram group and on the website, the community regularly dunks on the dog tokens. I guess that, in a way, that’s a unique feature.Personally, what I like about the token is that it doesn’t even pretend to be a cryptocurrency.
And this might not be such a bad thing for the “crypto” industry. A move away from weak promises of decentralized finance yield projects, algorithmic stablecoins or the tokenization of real-world items and a shift toward good old-fashioned gambling — but with a cause — bizarrely feels more honest.
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