Uniswap

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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 rel="noopener noreferrer nofollow">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.<figure class="wp-block-image size-large"><img 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"><figcaption class="wp-element-caption"> PepeFork market cap | Source: dexscreener </figcaption></figure>You might also like: <a href="https://crypto.news/pepe-tokens-shady-wallet-activity-nefarious-ex-team/" rel="noopener noreferrer nofollow"> PEPE leadership blames shady wallet activity on ‘nefarious ex-team members’ </a>According to Dexscreener and <a href="https://etherscan.io/token/0xb9f599ce614Feb2e1BBe58F180F370D05b39344E#balances" rel="noopener noreferrer nofollow">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/" rel="noopener noreferrer nofollow">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;<figure class="wp-block-image size-large"><img width="1024" height="707" src="https://crypto.news/app/uploads/2024/01/Screenshot-225-1024x707.png" alt="PEPE meme coin fork PORK above $200m market cap in 48 hours - 19" class="wp-image-14244105"><figcaption class="wp-element-caption"> PORK top holders | Source: Etherscan </figcaption></figure>Members of the PEPE community threw <a href="https://x.com/CatOfLongTails/status/1752518434074530158?s=20" rel="noopener noreferrer nofollow">aspersions</a> on the new meme coin, predominantly promoted by a pseudonymous crypto participant known as Pauly0x. PEPE backers accused the figure of operating Ponzi schemes and spinning hollow cryptocurrencies out of hot narratives for profit.&nbsp;<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet">Quick reminder for people aping <a href="https://twitter.com/search?q=%24PORK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$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" rel="noopener noreferrer nofollow">pic.twitter.com/78mdaHLsG0</a>— Sixsmith (@CatOfLongTails) <a href="https://twitter.com/CatOfLongTails/status/1752518434074530158?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 31, 2024</a></blockquote></div></figure>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" rel="noopener noreferrer nofollow">Pauly0x</a> and several other cryptocurrencies. Some cryptos have seemingly crashed and traded for pennies on decentralized exchanges.<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet">Source: they made it up. I forked <a href="https://twitter.com/pepecoineth?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@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" rel="noopener noreferrer nofollow">$pepe</a> team of verifiable scammers and liars. This is why maximalism gets you killed. People rebrand their entire identity around a crypto project run by anons. Game over. 🪦<a href="https://twitter.com/search?q=%24PORK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PORK</a><a href="https://t.co/gupBZCt9oq" rel="noopener noreferrer nofollow">https://t.co/gupBZCt9oq</a>— PAULY (@Pauly0x) <a href="https://twitter.com/Pauly0x/status/1752678721989771681?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 31, 2024</a></blockquote></div></figure>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/" rel="noopener noreferrer nofollow"> 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

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