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By Gerelyn Terzo, Benzinga
Apu Apustaja could become the most significant meme coin in history. One of the most widely used memes out there, with an incredibly active community behind it and financing it, the project is quite unique to say the least.
Often mistaken for Pepe, Apu – the innocent and playful frog character, free from political connotations and copyright restrictions – could not be more different to Pepe. Andrew Kang, one of crypto’s biggest thought leaders, iconic investor and owner of the Pepe NFT, affirms that Apu is a distinct character.
Since the emergence of Bitcoin (BTC), new iterations of cryptocurrency innovation have been unleashed, leading to developments like decentralized finance (DeFi) and non-fungible tokens (NFTs). However, one of the most exciting niches within the broader cryptocurrency market has proven to be meme coins, which are digital assets designed to reflect market sentiment based on anecdotal evidence, mainly social media.
Since Dogecoin (DOGE), the maiden meme coin to come on the scene, this segment has evolved to represent an entire category under the crypto umbrella. Projects like the Apu Apustaja (APU) token, created in Finland by an anonymous artist, demonstrate a balance of resilience and whimsy.
The Helpful Frog
Originally launched in 2016 on 4Chan and later making its debut on Facebook, the Apu character has always been associated with helpfulness. Since making its way onto the Ethereum blockchain, Apu has risen to become one of the most popular meme coins, with a market cap of $200 million. It has its own unique set of values for which it is known, including joy and innocence over political leanings or intellectual property.
Unfortunately, the Pepe community has taken aim at Apu, seemingly for its positive influence as a meme token that has surpassed that of its predecessor. However, for meme coin enthusiasts, there’s no mistaking the “frog-faced visage and spirit of earnest aid” for which the Apu project has become known, including its mission to “build dis blockchain with frenship.”
Even Andrew Kang, who purchased the original Pepe the Frog NFT, is quick to point out the difference, noting that, “Pepe is not to be confused with Apu.” Instead, he refers to the newer frog meme coin as a “cousin of Pepe,” saying it’s “arguably as culturally significant and ubiquitous as Pepe itself.”
The Apu token has over 16,000 followers on X, and a similarly strong number of followers on Telegram, and the Apu community is growing by leaps and bounds. In fact, were it not for its loyal community, Apu Apustaja wouldn’t be here today. This after the original project developer pulled what’s known as a “rug pull” on participants, selling all of his holdings in one foul swoop in an attempt to leave investors holding the bag. However, those plans backfired when the community banded together, coming back stronger and better than before.
Meme Coin Mania
While meme coins started as a joke, with the introduction of Dogecoin in 2013, they have grown to become something much more for investors. Over the years, meme coins have captured the attention of high-profile influencers like Elon Musk, whose affection for Dogecoin and Shiba Inu (SHIB) has fueled much of the momentum around meme coin projects. Today, meme coins have amassed multi-billion-dollar market caps, as investors choose dog and frog-themed coins over more conventional projects with complex use cases.
While there are thousands of cryptocurrencies to choose from, there are key differences between meme coins and many of the more technical projects out there. For example, many of the utility cryptocurrency projects participants have a command of backend technical knowledge to understand, which can become onerous and complex for mainstream investors, especially during the due diligence process.
Meme coins, on the other hand, are famous for their simplicity and transparency, given their entire mission is built around cartoon memes. Investors have been flocking to meme coins in search of relief from the challenging fiscal policies globally that have led to difficult economic times for many households.
“Those people are looking for ways to secure a better future for themselves,” Apu Apustaja’s Brand Director Scott Enders said, noting that the recent Wall Street Bets movement around stocks like Gamestop (NYSE: GME) only proved that the stock market is rigged for institutions and sophisticated traders. Meme coins, he believes, offer investors a “beacon of hope” for those in search of a better future through a movement whose origins are both organic and grassroots in nature.
That’s not to say that meme coins present zero risks for investors, chief among which is their volatility. Take Dogecoin, which in 2021 reflected a market capitalization of $41 billion compared with a value of $15.6 billion as of July 2024.
Additionally, meme coins have low barriers to entry, owing to their simplicity, as a result of which new coins are continually being minted. As of 2024, over 2,200 meme coins were available on CoinMarketCap, worth a total of $50 billion, a combined market cap that rivals that of electric vehicle phenomenon Tesla (NASDAQ: TSLA) and investment banking giant JPMorgan (NYSE: JPM).
This makes it more challenging for investors to separate the wheat from the chaff. However, it’s also what makes trustworthy meme coin projects like Apu Apustaja that much more valuable - a diamond in the rough you could say.
Investors Should Thoroughly Vet Meme Coins First
To avoid falling for the next rug pull scam, investors should take a few proactive steps when selecting which meme coin to back. First and foremost, they should ensure that a project is being run by reputable team members who have a history of successes in comparable industry roles. Additionally, it is worth choosing projects boasting strong community followings and robust engagement, as this is an indication of demand for that particular project and what it has to offer participants.
It is worth ensuring that the meme coin has staying power and is not riding on the coattails of other projects. Incidentally, dog-themed projects have historically dominated the meme-coin landscape. However, a paradigm shift in Internet culture is unfolding online in which demand for dog memes is being outpaced for frog-themed coins like Apu.
One of the reasons for this is that frog memes are historically an online favorite, even before tokenization existed. Meanwhile, dog memes owe their popularity to an early mover status in tokenization.
Apu Coin’s Growing Community
The Apu Apustaja project is more than just another investment. It offers members a “safe retreat” from their troubles, according to Enders, thanks to a supportive community.
Awareness of the Apu project is also on the rise, owing in part to the team’s recent acquisition of the coveted Apu.com domain, which incidentally was featured on hit television show The Simpsons. Securing this domain was a clear win for the meme coin and its thriving community, given the strong demand for three-letter URLs. The domain enhances Apu’s competitive advantage among meme coins, including Pepe, which controls the Pepe.com domain.
The Apu meme also recently made its debut on the New York’s Time Square billboard, where the average pedestrian count is 225,000. The reception for which was so favorable that the project decided to extend its marketing campaign. The green frog meme can also be found on over four-dozen of the Big Apple’s busiest bus stops, where social media impressions have surpassed 2 million.
With a big partnership to be announced soon, Apu is worth keeping an eye on. Investors that are looking to capture the meme coin momentum might want to consider this endearing frog-themed project, which unlike other fly-by-night meme coin projects is here for the long haul.
Featured photo by geralt on Pixabay
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