Uniswap

when

Baby Doge Coin

PepeFork

PORK, a pink Pepe-The-Frog-themed meme coin spin-off of PEPE, surged over 450% in less than two days. 
At a $200 million market capitalization hours following its debut, PepeFork (PORK) sat above Baby Doge Coin as the ninth largest meme coin in crypto. FORK launched on Uniswap in a pool paired with wrapped Ether (WETH) and is also tradable on MEXC.&nbsp; 
PORK is an offshoot crypto from some in the community around viral Ethereum-based meme token <a href="http://PEPE leadership blames shady wallet activity on ‘nefarious ex-team members’" target="_blank" rel="noreferrer noopener">PEPE</a>, the fifth largest meme coin at a $380 million market cap. PEPE was a main character during the meme frenzy in the first half of 2023, where crypto speculators turned into overnight millionaires from a few bucks in initial capital.&nbsp; 
The period was also awash with streams of rug pulls and scam tokens as some traders chased 100 to 1,000 times returns on these altcoins. 
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 <img loading="lazy" decoding="async" width="1024" height="599" src="https://crypto.news/app/uploads/2024/01/USE-1-1024x599.png" alt="PEPE meme coin fork PORK above $200m market cap in 48 hours - 18" class="wp-image-14244124">
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 PepeFork market cap | Source: dexscreener
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 You might also like: <a href="https://crypto.news/pepe-tokens-shady-wallet-activity-nefarious-ex-team/"> PEPE leadership blames shady wallet activity on ‘nefarious ex-team members’ </a> 
According to Dexscreener and <a href="https://etherscan.io/token/0xb9f599ce614Feb2e1BBe58F180F370D05b39344E#balances" target="_blank" rel="noreferrer noopener">Etherscan</a>, PORK has a 420 trillion supply; the top 10 holders command over 15% of that number. All of these 10 addresses were no more than two days old when they received PORK tokens, and they all held $30 to $200 in ETH, possibly for gas fees and on-chain swaps. 
These new wallets exclusively owned PORK and <a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a> coins at press time. The deployer wallet also holds over 20% of the supply. The wallets showed at least $70 million in value and unrealized gains.&nbsp; 
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 <img loading="lazy" decoding="async" width="1024" height="707" src="https://crypto.news/app/uploads/2024/01/Screenshot-225-1024x707.png" alt="PEPE meme coin fork PORK above $200m market cap in 48 hours - 19" class="wp-image-14244105">
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 PORK top holders | Source: Etherscan
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Members of the PEPE community threw <a href="https://x.com/CatOfLongTails/status/1752518434074530158?s=20" target="_blank">aspersions</a> on the new meme coin, predominantly promoted by a pseudonymous crypto participant known as Pauly0x. PEPE backers accused the figure of operating Ponzi schemes and spinning hollow cryptocurrencies out of hot narratives for profit.&nbsp; 
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 Quick reminder for people aping <a href="https://twitter.com/search?q=%24PORK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$PORK</a>: Pauly takes the most popular thing in crypto, makes it about himself, launches a derivative project, using ponzi liquidity mechanisms to create hype. And every time, it dies with a whimper. Examples pictures: (1) PNDC and (2) Phunks <a href="https://t.co/78mdaHLsG0" target="_blank">pic.twitter.com/78mdaHLsG0</a>— Sixsmith (@CatOfLongTails) <a href="https://twitter.com/CatOfLongTails/status/1752518434074530158?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 31, 2024</a>
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Pauly0x alleges that PEPE developers are the true scammers and that his project is a legitimate effort as part of the Pond ecosystem. Pond is another defi idea founded by <a href="https://x.com/pauly0x/status/1752678721989771681?s=46&amp;t=TMI07H21nqgKjjcESnhqEQ" target="_blank" rel="noreferrer noopener">Pauly0x</a> and several other cryptocurrencies. Some cryptos have seemingly crashed and traded for pennies on decentralized exchanges. 
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 Source: they made it up. I forked <a href="https://twitter.com/pepecoineth?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@pepecoineth</a>. RIP to the idiots who stay behind with a <a href="https://twitter.com/search?q=%24pepe&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$pepe</a> team of verifiable scammers and liars. This is why maximalism gets you killed. People rebrand their entire identity around a crypto project run by anons. Game over. 🪦<a href="https://twitter.com/search?q=%24PORK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$PORK</a> <a href="https://t.co/gupBZCt9oq" target="_blank">https://t.co/gupBZCt9oq</a>— PAULY (@Pauly0x) <a href="https://twitter.com/Pauly0x/status/1752678721989771681?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 31, 2024</a>
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It remains to be seen if PORK will outshine its predecessor PEPE and become a top three meme coin, boasting liquidity and a thriving ecosystem supported by meme culture. The token has around $12 million in unlocked liquidity with a $202 million fully diluted valuation. 
Cautioned is advised when trading meme coins as these tokens may face massive volatility and sharp price movements, or devs may withdraw liquidity. 
 Read more: <a href="https://crypto.news/dogecoins-yearly-gains-take-a-hit-as-rival-memecoins-gain-popularity/"> Dogecoin’s yearly gains take a hit as rival memecoins gain popularity </a>

PEPE meme coin fork PORK above $200m market cap in 48 hours

crypto.news

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