What Is Pepe Coin?

Even in the oversaturated meme coin market, there still appear new heroes that take the industry by storm. Pepe coin, named (and branded) after the famous frog meme, is one of such standout projects.

Although Pepe’s launch went mostly unnoticed, the token quickly rose to popularity in late spring of 2023. At the time of writing, this meme token had a whole army of fans and an incredibly high market cap that put it in the top 70 of crypto rankings. Many investors are left wondering if the Pepe coin price continues to rise or collapses under the weight of empty hype surrounding it — a fate that has befallen many other memecoins. 

While the meme itself is definitely here to stay, only time will tell what actually happens to Pepe the coin. Today, I want to take a look at what makes this coin so unique and popular and whether it can weather the storms that are undoubtedly ahead of it. I’ll also mention how you can buy Pepe coin.

My name is Daria Morgen, and I have loved crypto since 2014. As someone who spends a lot of time on the Internet, I, of course, love the meme culture. Pepe coin seems like a really interesting project, and I’m excited to see where the future takes it. However, please remember that the contents of this article do not constitute investment advice. Don’t forget to DYOR!

PEPE Price

Here’s the current price of Pepe coin, updated in real time.

What Is PEPE?

The PEPE coin is an Ethereum-based deflationary memecoin that draws inspiration from the Pepe the Frog Internet meme. This digital asset, created in homage to Matt Furie’s popular meme character from the early 2000s, attempts to harness the meme coin mania sparked by famous crypto market success stories like Dogecoin and Shiba Inu.

A stack of green Pepe coins.
Source: Benzinga

The rapid rise of the PEPE coin during late April and May 2023 sent its total market capitalization soaring to a staggering $1.6 billion, triggering a veritable “memecoin season.” PEPE’s meteoric rise made millionaires out of early investors and garnered a strong community of dedicated supporters.

The PEPE coin’s roadmap is neatly laid out in three phases, focusing on gaining visibility through CoinMarketCap listings and trending on Twitter, getting listed on centralized crypto exchanges, and aiming for top-tier exchange listings while planning a “meme takeover.” 

Pepe coin also utilizes an interesting redistribution system designed to incentivize potential investors to hold onto their tokens for longer periods. This strategy is crafted to enhance the token’s stability and increase its long-term success chances.

As an ERC-20 token, PEPE enjoys all the benefits of being on the Ethereum network, like its robust security offered by the proof-of-stake (PoS) consensus mechanism.

Last but not least, a notable feature of Pepe coin is its total supply amount: there will only ever be 420,690,000,000,000 PEPE tokens. I don’t think I need to elaborate on the meaning of these numbers. 

What Makes PEPE Unique?

The PEPE coin sets itself apart in the bustling memecoin market through its intriguing tribute to Pepe the Frog, a meme character with an interesting and contentious backstory. The crypto investors’ dedication to this character adds a unique charm to PEPE, differentiating it from its competitors in the meme-based cryptocurrency market. Although it also has interesting features, this is probably the most important factor in this digital asset gaining this much support and visibility.

Different variations of Pepe
Pepe the frog comes in many shapes and sizes, and is undoubtedly one of the most recognizable memes of today. Source: Dexerto

Still, the PEPE coin seeks to make a significant impact on the cryptocurrency market with a unique feature set. It operates under a no-tax policy, incentivizes long-term investment decisions with a redistributive reward system for stakers, and uses a coin-burning mechanism to regulate the PEPE coin’s circulating supply. 

PEPE’s distinct burning mechanism is the project’s unique aspect that strives to maintain the coin’s scarcity in the face of its colossal maximum supply. A portion of the crypto’s total tokens gets permanently removed from the circulating supply on a regular basis. According to the project’s official website, 93.1% of the token’s total supply was sent to a liquidity pool, where LP tokens (liquidity provider) were burnt. The rest are held in a multi-sig wallet. Those 6.9% remaining PEPE tokens will be used for future listings, bridges, and liquidity pools.

Who Are the Founders of Pepe?

The founders of the PEPE coin prefer to stay anonymous. Despite the lack of detailed information about the team, they have effectively used various social media platforms, like Twitter, to promote their memeable memecoin and cultivate a dedicated community around it.

Where Can You Buy PEPE?

Since it’s an ERC-20 token, you can get PEPE easily on many popular DEXs. However, it is likely that you will need to buy it, or another cryptocurrency, on one of the many centralized exchanges first, as DEXs typically don’t offer fiat purchases. 

PEPE coins can be purchased on various cryptocurrency exchanges, offering an easy avenue for potential investors to become a part of the PEPE community. You can also buy Pepe Coin on Changelly — we aggregate the best offers from several major fiat providers with fair rates and low transaction fees and make the buying process incredibly smooth.

Always consider the current market capitalization, current price, and 24-hour trading volume before making any investment decisions.

What Is the Future of Pepe Coin? 

It’s too early to make a certain price prediction for Pepe coin, considering its recent launch. Some crypto experts, like DFG founder James Wo, think that memecoins are integral parts of the crypto trading landscape, and more projects like PEPE will continue to emerge. However, like many other fleeting memecoins, PEPE may also experience significant price volatility and risk fading from public attention quickly.

Other than the challenges that all cryptocurrencies face, Pepe coin will also have to directly compete with other memecoins, such as the well-established Shiba Inu or newcomers like the Thug Life token. At the end of the day, a lot will depend on the project’s team and how they approach their newfound popularity –– for memecoins, the key thing is to build a strong and supportive community and brand image.

FAQ

What is a meme coin?

Just like the name suggests, a memecoin is a cryptocurrency that originated from a meme. Memecoins typically use easily recognizable symbols, figures, and images, like Doge –– or Pepe the frog. The better the chosen symbol, the higher the project’s chances of success.

Because most memecoins don’t really offer anything besides being a meme, many of them have volatile price movements, meaning they can go from hitting an all-time high to their lowest price in a span of just two weeks or less. You should be careful when investing in such projects.

What are the most popular meme coins?

The most popular meme coins are, without a doubt, Shiba Inu and Dogecoin. These two dog-related projects both have had insane success. Their price history is mostly positive, and their token prices have managed to remain relatively stable despite the many challenges they had to face.


Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.