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PEPE Doge Pepe ($DOPE): A Ethereum meme coin created due to a code error. In just 24 hours, the value of Doge Pepe increased by 50%, reaching a market value of approximately $22 million. The origin of this token is quite dramatic: it resulted from a code error, which caused its creator to incur an API call fee of around $1900. How did a code error lead to the creation of a meme coin?
According to the project’s official website, during a small 3D graphics experiment, the script mistakenly pointed to the wrong API endpoint and continued to run without anyone monitoring it. The script consumed over 400 million API tokens, resulting in a fee of approximately $1900.
The final result was a low-polygon style Chihuahua with facial features resembling the well-known “Pepe the Frog”. This image combined two iconic characters from meme culture. According to the project’s website, the creator then shared a picture on Reddit titled “I accidentally created a meme worth $1900”. Users on Reddit nicknamed this character “dope”, and this became the ticker for the token.
The project’s website also emphasizes that the 400 million tokens and $1900 figure only represent the API fees incurred in this incident. These numbers do not reflect the total supply or price of the meme coin. Readers should not confuse these two sets of numbers.
What does this mean for the Ethereum meme coin market?
$DOPE has joined the competitive field of Ethereum-based memes. One of the most well-known memes is Pepe ($PEPE), a ERC-20 token launched on Ethereum in 2023. CoinMarketCap describes this token as a tribute to the “Pepe Frog” meme. Like many other similar tokens, $DOPE’s appeal stems from internet culture and a viral story, rather than any specific functional purpose. Although $DOPE has seen a 50% increase in value over the past day, with a valuation of $22 million, its status in the industry remains far behind that of established mainstream tokens. High fluctuations like these are often associated with high risks. The market value of newly issued tokens can change rapidly, and statistics may vary among different data providers. Therefore, traders should carefully review real-time data and token contracts before making any decisions. The above information does not constitute any investment advice.
The contract address for this token on Ethereum is 0x73df7018cbcb919ccde48c3f12f4326688ac4446. Given that counterfeit tokens often emerge after memes gain popularity, readers should verify the contract address independently to ensure security.
