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.

互联网上标志性的两栖动物重新成为人们关注的焦点，但这一次，佩佩青蛙并没有主宰巨魔论坛——他正一跃登上加密货币排行榜的榜首。 PEPE 是一种因网络轰动而命名的模因代币，在怀旧情绪和散户投资者热情的共同推动下，正在经历前所未有的飙升。

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热潮中：Toncoin 凭借价格飙升和社交热潮超越比特币

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From Backwater To Bullfrog: PEPE's Rise

从死水到牛蛙：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 最近的崛起可谓是飞速发展。过去 24 小时内，交易量惊人地飙升了 300%，推动价格创下历史新高。这一戏剧性的上涨恰逢 Gamestop (GME) 股票的复苏，导致许多人猜测 2021 年的散户投资者大军将卷土重来，以 meme 币作为他们的首选武器。 PEPE 市值。资料来源：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·吉尔（Keith Gill）的回归，在网络上被称为“咆哮的小猫”，成为了这些数字战士的战斗口号。吉尔在其休眠的 Reddit 帐户上发布的令人惊讶的帖子震惊了市场，重新点燃了最初的 Gamestop 传奇的怀旧之火。分析师表示，这种怀旧情绪已经蔓延到加密货币市场，引发了一场全面的模因币热潮。

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 月中旬以来，PEPE 一直在稳步攀升，并成为这个数字迷因动物园中不太可能的冠军。 PEPE 目前的交易价格为 0.000011 美元。图表：TradingView

Whales Take A Dip In The Pepe Pond

鲸鱼在佩佩池塘里畅游

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.

推动 PEPE 飙升的不仅仅是小型投资者。大笔资金，或者加密货币中的“鲸鱼”，也一头扎进了这股疯狂之中。链上数据显示，最近有一只鲸鱼花费了 186 万 USDC 购买了高达 1,950 亿个 PEPE 代币。另一头鲸鱼捞到了 4.06 亿美元的巨额 PEPE，进一步推动价格上涨。

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

这家伙在 12 小时前花费了 186 万美元 USDC 购买了 195B 美元 PEPE，现在已经获得了 23.6 万美元的未实现利润。

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?

但这都是金色模因和彩虹吗？

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.

虽然 PEPE 目前的发展轨迹对于早期采用者来说是梦想成真，但在泡沫的表面之下却隐藏着一个警示故事。 Meme 币因极度波动而臭名昭著。它们的价值通常建立在炒作和转瞬即逝的互联网趋势之上，而不是坚实的财务基础之上。这意味着情绪的突然转变可能会引发灾难性的价格崩盘，让投资者持有佩佩的包。

Source: Lookonchain

来源：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 是加密货币游戏中相对较新的参与者，未来充满不确定性。与成熟的加密货币不同，PEPE 缺乏可靠的记录。其长期生存能力仍然是一个问号。

Featured image from @GameStopPepe/X, chart from TradingView

精选图片来自 @GameStopPepe/X，图表来自 TradingView