PEPE seems to have brought a new, a renaissance age, in meme coins industry.
Meme coins originated with the advent of Dogecoin (DOGE) in late 2013 and reached peak interest during the 2021 bull market. During 2021, DOGE gained mainstream popularity and grew from a $700 million market cap on January 1 to a $88 billion market cap in early May.
Following Dogecoin’s run, Shiba Inu (SHIB) achieved a $42 billion market cap in late October after beginning the year under $1 million market cap.
Now, PEPE is the latest memecoin to capture the market’s attention.
These dog/frog & God knows what-themed assets offer no intrinsic value, but their linkage to viral and meaningless internet memes has driven their popularity among crypto degens and other participants.
While memes like these and bunch of others shape internet culture, the idea of commercialization using WEB 3 tools and generating millions if not billions, a game plan mastered by those who understand greed in purest form.
Despite my frustration and disappointment with memes that are taking over the WEB 3 by storm, it also gives me hope that if practical idea, with right team and great community unite, valuable projects that have intrinsic values can also make it to the top
Why 2 stars instead of 1?
I hope one day will come there might be intrinsic value that could benefit society making an impact in the most promising industry that we aspire to AKA WEB 3 Show Less
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