The internet's iconic amphibian has re-emerged into the limelight, but this time, Pepe the Frog isn't dominating troll forums—he's hopping his way to the top of the cryptocurrency charts. PEPE, the meme coin named after the internet sensation, is experiencing an unprecedented surge, fueled by a potent concoction of nostalgia and retail investor enthusiasm.

網路上標誌性的兩棲動物重新成為人們關注的焦點，但這次，佩佩青蛙並沒有主宰巨魔論壇——他正一躍登上加密貨幣排行榜的榜首。 PEPE 是一種因網路轟動而命名的迷因代幣，在懷舊情緒和散戶投資者熱情的共同推動下，正在經歷前所未有的飆升。

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熱潮中：Toncoin 憑藉價格飆升和社交熱潮超越比特幣

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From Backwater To Bullfrog: PEPE's Rise

從死水到牛蛙：PEPE 的崛起

PEPE's recent ascent has been nothing short of meteoric. Trading volume has skyrocketed by an astonishing 300% over the past 24 hours, propelling the price to an all-time high. This dramatic rise coincides with a resurgence in Gamestop (GME) stock, leading many to speculate that the retail investor army of 2021 is back for round two, armed with meme coins as their weapon of choice. PEPE market cap. Source: CoinMarketCap

PEPE 最近的崛起可謂是快速發展。在過去 24 小時內，交易量驚人地飆升了 300%，推動價格創下歷史新高。這一戲劇性的上漲恰逢 Gamestop (GME) 股票的復甦，導致許多人猜測 2021 年的散戶投資者大軍將捲土重來，以 meme 幣作為他們的首選武器。 PEPE 市值。資料來源：CoinMarketCap

The return of Keith Gill, better known online as "Roaring Kitty," has served as a rallying cry for these digital warriors. Gill's surprise post on his dormant Reddit account sent shockwaves through the market, reigniting the nostalgic flames of the original Gamestop saga. Analysts suggest this nostalgia has spilled over into the crypto market, sparking a full-blown meme coin craze.

基思·吉爾（Keith Gill）的回歸，在網路上被稱為“咆哮的小貓”，成為了這些數字戰士的戰鬥口號。吉爾在其休眠的 Reddit 帳戶上發布的令人驚訝的帖子震驚了市場，重新點燃了最初的 Gamestop 傳奇的懷舊之火。分析師表示，這種懷舊情緒已經蔓延到加密貨幣市場，引發了一場全面的迷因幣熱潮。

PEPE, already experiencing a steady climb since mid-April, has emerged as the unlikely champion of this digital meme menagerie. PEPE is currently trading at $0.000011. Chart: TradingView

自 4 月中旬以來，PEPE 一直在穩步攀升，並成為這個數位迷因動物園中不太可能的冠軍。 PEPE 目前的交易價格為 0.000011 美元。圖表：TradingView

Whales Take A Dip In The Pepe Pond

鯨魚在佩佩池塘暢遊

It's not just the small-time investors driving the PEPE surge. Big money, or "whales" in crypto parlance, are also diving headfirst into the frenzy. On-chain data reveals a whale recently splurging a cool 1.86 million USDC for a whopping 195 billion PEPE tokens. Another whale scooped up a hefty 406 million PEPE, further propelling the price upwards.

推動 PEPE 飆升的不僅僅是小型投資者。大筆資金，或者加密貨幣中的“鯨魚”，也一頭扎進了這股瘋狂之中。鏈上數據顯示，最近有一隻鯨魚花了 186 萬 USDC 購買了高達 1,950 億個 PEPE 代幣。另一頭鯨魚撈到了 4.06 億美元的巨額 PEPE，進一步推動價格上漲。

This guy spent 1.86M $USDC to buy 195B $PEPE 12 hours ago and has now made an unrealized profit of $236K.

這傢伙在 12 小時前花了 186 萬美元 USDC 購買了 195B 美元 PEPE，現在已經獲得了 236,000 美元的未實現利潤。

https://t.co/TSngBKN2yC pic.twitter.com/Oszxx3nIO2

https://t.co/TSngBKN2yC pic.twitter.com/Oszxx3nIO2

— Lookonchain (@lookonchain) May 14, 2024

— Lookonchain (@lookonchain) 2024 年 5 月 14 日

But Is It All Golden Memes And Rainbows?

但這都是金色迷因和彩虹嗎？

While PEPE's current trajectory is a dream come true for early adopters, a cautionary tale lurks beneath the frothy surface. Meme coins are infamous for their extreme volatility. Their value is often built on hype and fleeting internet trends, rather than solid financial fundamentals. This means a sudden shift in sentiment could trigger a catastrophic price crash, leaving investors holding the Pepe bag.

雖然 PEPE 目前的發展軌跡對於早期採用者來說是夢想成真，但在泡沫的表面之下卻隱藏著一個警世故事。 Meme 幣因極度波動而臭名昭著。它們的價值通常建立在炒作和轉瞬即逝的網路趨勢之上，而不是堅實的財務基礎之上。這意味著情緒的突然轉變可能會引發災難性的價格崩盤，讓投資者持有佩佩的包。

Source: Lookonchain

來源：Lookonchain

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Furthermore, PEPE is a relatively new player in the crypto game, with an uncertain future. Unlike established cryptocurrencies, PEPE lacks a proven track record. Its long-term viability remains a question mark.

此外，PEPE 是加密貨幣遊戲中相對較新的參與者，未來充滿不確定性。與成熟的加密貨幣不同，PEPE 缺乏可靠的記錄。其長期生存能力仍是一個問號。

Featured image from @GameStopPepe/X, chart from TradingView

精選圖片來自 @GameStopPepe/X，圖表來自 TradingView