Pepe sans crypto: Mods purge crypto from the original meme subreddit

Moderators on Reddit have started taking action against crypto-related Pepe the Frog hype flooding into the meme’s original subreddits after an explosion in popularity of the Pepe (PEPE) memecoin.

On May 9, a moderator for the r/pepethefrog subreddit pinned a

The Pepe the Frog memecoin PEPE hit the markets in late April, after which it experienced a 2000% price rally fueled by hype and frenzy. 

Nonetheless, the official website for the already existing Pepe brand posted a disclaimer saying it is purely a memecoin with “no intrinsic value.” Since the coin’s all-time high on May 6, the token has fallen at least 42%.

The token was listed by some of the crypto space’s most prominent cryptocurrency exchanges, such as Binance and OKX.

Before entering the crypto space as a memecoin persona, Pepe the Frog was created in 2005 by cartoonist Matt Furie. Since then, Pepe has exploded in popularity as an internet meme and is the face of various social movements worldwide. 

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