Moderators on Reddit have taken a stand against the inundation of cryptocurrency-related content on the original subreddits dedicated to Pepe the Frog, a wildly popular internet meme. The recent frenzy surrounding the $PEPE memecoin has led to an overflow of crypto-related hype in these subreddits, prompting swift action from the moderators.
On May 9, a moderator for the “r/pepethefrog” subreddit pinned a post stating that all “cryptocurrency promotion and all similar schemes such as NFTs” will be banned. The decision was made to maintain the subreddit’s focus on Pepe the Frog art, rather than currency trading. To help enforce this new policy, additional moderators will be added as necessary, and a call for those interested in moderating was made.
Members of the subreddit have shown overwhelming support for this decision, with many expressing gratitude and relief. Some users have even taken to creating memes depicting moderators as various versions of Pepe, cleaning up the mess left by the influx of crypto content.
This action seems to stem from a rising number of complaints regarding the inundation of crypto-related posts within the subreddit, with various threads expressing anger directed towards the crypto community.
Relevant to this situation is the fact that the Pepe the Frog memecoin $PEPE hit the markets in late April and experienced a 2000% price rally. Adding to the fervor, the official website for the Pepe brand posted a disclaimer noting that it is purely a meme coin with “no intrinsic value.” Since the coin reached its all-time high on May 6, the token has plummeted at least 42% in value.
Despite the controversy surrounding the $PEPE meme coin, it was listed on some of the most prominent cryptocurrency exchanges, such as Binance and OKX. While Pepe the Frog has undoubtedly become synonymous with various social movements worldwide, it is essential to remember that the character originated in 2005 as a creation by cartoonist Matt Furie.
As the line between art and currency becomes increasingly blurred in the digital age, it is crucial to preserve and respect the original intent and purpose behind such creations. The stand taken by Reddit moderators in this situation delivers a clear message regarding the boundaries between art and cryptocurrency while simultaneously upholding their community’s values.
Source: Cointelegraph
