Pepe Coin, symbolized as $PEPE, made its debut in April 2023 and has been embroiled in controversies ever since. Drawing inspiration from the internet meme Pepe the Frog, this cryptocurrency operates on the Ethereum network.

Unlike other meme coins, PEPE, inspired by the frog meme, positioned itself as a potential rival to SHIB, fully embracing its meme-based identity and openly acknowledging its lack of intrinsic value or utility. Pepe the Frog, the muse behind the coin, stands as one of the oldest memes.

Despite occasional controversies surrounding the original meme, Pepe Coin capitalized on its existing community and fan base. Additionally, the coin employed strategies such as a no-tax policy and vigorous marketing efforts to ride the wave of meme coin frenzy.

However, PEPE faced hurdles when Matt Furie, the creator of Pepe the Frog, filed a lawsuit against the coin for unauthorized use of copyrighted material. Furie initiated legal action in June 2023, alleging that the crypto infringed on Pepe's trademark.

Furthermore, Furie argued that the coin tarnished the wholesome reputation associated with the original meme, seeking a cease-and-desist order to halt $PEPE's operations and further utilization of the meme. The lawsuit is ongoing and has undoubtedly impacted Pepe's reputation in the market.

This wasn't the only controversy surrounding $PEPE, as the crypto community swiftly accused it of being a pump-and-dump scheme due to its perceived lack of underlying utility. Skepticism abounded, mimicking the typical pattern of such schemes, and critics also accused the coin of copying Shiba Inu and Dogecoin without offering anything original.

Adding to its woes, the official Pepe Coin Telegram channel fell victim to a security breach in August 2023, resulting in financial losses and the exposure of personal data. The attacker made off with a substantial amount of $PEPE tokens, leading to significant losses for investors and the potential leak of sensitive information such as wallet addresses and usernames.

These setbacks eroded user trust in the Pepe Coin project and temporarily tarnished its market reputation. Nonetheless, Pepe is currently trading at 0.0000009786 dollars, experiencing a 7.33% decline in the last 24 hours. Despite challenges, the coin maintains its rank as the 126th largest based on market capitalization, indicating continued user support. Several predictions also suggest a positive market outlook for Pepe Coin in the months ahead.