What Is Kek ($KEKE)?
Kek ($KEKE) is a cryptocurrency token inspired by PEPE’s frog theme and based on the Cult of Kek meme popular on social media platforms like 4chan and Twitch. It features the ancient Egyptian god Kek, who is frequently portrayed as a frog or frog-headed man. The project aims to share humor through its memes while creating a growing ecosystem and community of members.
Among the similarities of the KEKE vs PEPE coin, the KEKE token runs on the Ethereum blockchain and focuses on building community and popularity on social media rather than utility. The Pepe project is “fueled by pure memetic power”, while the KEK project “aims to use memetic magic to influence the crypto world.”
The anonymous “Kingdom of Kek” developers have come up with “7 Kek Commandments”, such as buying price dips and holding KEKE, and assembling a “shill squad” to promote the project.
“Block by block, brick by brick, as a unified cult community, we shall erect the most colossal and illustrious pyramid in the vast expanse of the crypto realm,” the Kek website states.
How Does Kek Work?
Kek is a community-driven project and decisions about the token’s development are made through a decentralized governance model.
KEKE has a total supply of 77 trillion tokens, of which:
- 92.3% have been allocated to the liquidity pool (LP), with the LP tokens burnt and the contract renounced, so the creators no longer have control;
- 7.7% are held in a multi-sig wallet, so that 5% can be allocated to future centralized exchange listings, and 2.7% are held in the project’s treasury.
KEK does not impose taxes on transactions.
As KEKE runs on Ethereum rather than its own blockchain, users connect their cryptocurrency wallets to an Ethereum-based DEX to trade the token or purchase it on a centralized exchange.
What Is KEKE Coin Used For?
Rather than a utility token used for blockchain transactions, the KEKE cryptocurrency is designed to be a fun meme token that holders can trade for profit as it gains popularity. The project also includes a gambling game and an NFT collection that holders can use to participate in governance.
There are 7,777 NFTs in the collection, which give the holder a seat on the Council of Kek. The NFTs are listed on the OpenSea NFT marketplace and traded in ETH coins. Each NFT carries a unique weight in the project’s decision-making process based on its rarity. Holders can also stake the NFTs to increase their influence and earn rewards.
The Future of KEKE
The short KEKE price history so far has been volatile. In its first five days, it racked up over $13 million in trading volume and gained more than 2,500 holders, according to the project’s blog. It gained as much as 1,200% in its first two days and then fell back by more than 80%. The price rebounded by over 240% in mid-May but then dropped again by the end of May.
The KEK project’s developers acknowledge on their blog that:
They will need to introduce new features that make KEKE attractive to users as well as meme coin investors and differentiate the token from its competitors.
The future of the project will depend on whether it can continue to maintain a strong online presence and engage with the community, as well as cryptocurrency market sentiment and investors’ interest in meme coins.
Meme coins are often highly volatile and can be susceptible to market manipulation, and face regulatory uncertainties. As such, it’s important for all types of investors to conduct due diligence when trading or investing in such cryptocurrencies and only invest what they can afford to lose.