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+---
+type: entity
+entity_type: token
+name: PURR
+parent_protocol: Hyperliquid
+launch_date: 2024-04-16
+status: active
+domain: internet-finance
+---
+
+# PURR
+
+**Type:** Memecoin  
+**Chain:** Hyperliquid  
+**Launch:** April 16, 2024
+
+## Overview
+
+PURR is a community-distributed memecoin on Hyperliquid with zero team or VC allocation. Positioned as ecosystem beta play similar to BONK on Solana.
+
+## Token Structure
+
+- **Max Supply:** 1 billion
+- **Airdrop:** 500M to Hyperliquid points holders at launch
+- **Liquidity:** 400M deployed as liquidity were burned
+- **Current Supply:** ~598M (deflationary via fee burning)
+- **Allocation:** Zero to VCs or teams
+
+## Market Position
+
+- **PURR/HYPE Ratio:** ~0.0024 (March 2026)
+- **Performance:** Down ~90% from late 2024 peaks
+- **Daily Volume:** Under $1M (thin liquidity)
+
+## Investment Thesis
+
+Pine Analytics characterized PURR as "asymmetric risk-reward opportunity" based on:
+1. Survivor bias creating "conviction OGs" after weak hands exited
+2. Wealth effect: HYPE appreciation drives demand for ecosystem-native assets
+3. PURR/HYPE ratio in accumulation phase
+4. Community distribution model similar to BONK
+
+## Risks
+
+- No active team, product, or revenue
+- Entirely dependent on HYPE trajectory
+- No protocol-level guarantee of privileged position
+- Thin liquidity
+
+## Timeline
+
+- **2024-04-16** — Launched with 500M airdrop to Hyperliquid points holders
+- **2024-Q4** — Reached peak PURR/HYPE ratio
+- **2026-03-16** — Pine Analytics issues bullish recommendation despite ~90% drawdown from peaks