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As someone with a lot of ties to the West, I've known of Pepe as a character who became associated with the alt-right. However, he has become a famous face of the Hong Kong protests. Here I will thread the Pepe's I come across in the wild and any discussion articles I find. 
This SCMP article has great insight into why Pepe is a protest mascot. He was once popular around the world as a meme, and whilst he was co-opted by the alt-right in the West, this never happened to Pepe in Hong Kong, so he continues to be a popular icon.
scmp.com/lifestyle/arts…
scmp.com/lifestyle/arts…
This photo by Kero Ming (Facebook) on 6/9 inspired these future works. Derivatives persist in artwork weeks later.
