Rare Pepes are unique illustrations and photoshops of the character Pepe the Frog which are ostensibly valued as if they are trading cards based on their relative saturation on the web. Pepe the Frog is a cartoon character that has become a popular Internet meme (often referred to as the "sad frog meme" by people unfamiliar with the name of the character). 'Underwater Pepe' is one rare pepe from a series of pepes given birth by digital artist Kozachok.