Pepecoin (PEPE) Trumps Bitcoin (BTC), Shiba Inu (SHIB) In Social Buzz
- Pepecoin surpasses Bitcoin and Shiba Inu in social engagement activity, thanks to Elon Musk’s meme post and a Gemini giveaway campaign.
- PEPE leads social engagement activity, measured by likes, retweets, comments, bookmarks, and influential account participation.
- Gemini crypto exchange gives away 1 billion PEPE to one lucky winner for retweeting the PEPE post.
According to the social analytics platform LunarCrush, there has been a recent surge in social engagement activity surrounding the frog-themed token Pepecoin.
This spike in engagement activity has been observed on various social media platforms, indicating that the community is heavily invested in the token. LunarCrush reports that PEPE has surpassed Bitcoin and even Shiba Inu (SHIB) in terms of social engagement activity. Bitcoin has claimed the second spot in terms of social engagement activity, while Shiba Inu has taken the seventh spot.
The high social engagement activity, as indicated by LunarCrush, suggests that there is a strong sense of community participation in social media posts. This engagement is measured by a variety of factors, including likes, retweets, comments, bookmarks, and influential account participation, among others. The buzz surrounding “Pepe” peaked on May 13 after Tesla CEO Elon Musk indirectly mentioned Pepe in a tweet. Musk used the Pepe frog character to explain constitutional amendments in his meme post. The official Pepe Coin account promptly responded with the phrase, “Seize the memes of production,” a nod to the popular saying, “seize the means of production.” The tweet caused the PEPE coin price to rise unexpectedly. However, at press time, PEPE has pared its intraday gains and is down 8.09% in the last 24 hours at $0.000001791. On a weekly time frame, PEPE remains down 35.10%.
The Gemini 1 billion PEPE giveaway campaign is also contributing to the increase in social engagement activity surrounding PEPE. Crypto exchange Gemini announced that it is giving away 1 billion Pepe to one lucky winner to celebrate the PEPE listing on its platform. To be eligible for the giveaway, one of the criteria was to retweet the PEPE post made by Gemini. This campaign has further fueled the excitement surrounding the token.
There has been controversy surrounding the PEPE token, with Coinbase stating that the original Pepe the Frog meme had been “co-opted as a hate symbol by alt-right groups.” However, the exchange’s top legal officer apologized to the Pepe community last week, acknowledging the token’s legitimate use and its positive impact on the community.
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