Pepe Coin is today’s most popular meme coin with a strong community base in the crypto market. Let’s learn all about every crypto lover’s favorite crypto coin.
If you are unaware of memes today then, either you are a digital nomad, or living under a rock.
Memes are light-hearted humor images that bring smiles to everyone’s face. It has permeated every aspect of our lives such as work, entertainment, technology, and even finance.
Meme coins are derivatives or in simpler terms applications of memes on crypto coins. Meme coins lift investors’ moods and lighten market sentiment when the market is gloomy and bearish. They provide a breath of fresh air between the loss and profit volatility of crypto markets.
There are numerous meme coins available on crypto exchanges. Shiba Inu (SHIB), Dogwifhat (WIF), Dogecoin (DOGE), Book of Memes (BOME), Popcat (SOL), Floki (FLOKI), Bonk (BONK), Cat in a dog’s world (MEW), Memecoin (MEME) are few such meme coins.
The Pepe coin is one such meme coin that has gained tremendous popularity among the crypto community users and common masses.
Pepe Coin Origins
Pepe coin is based on the Pepe the Frog Internet meme, which was greatly circulated during the 2016 US elections. It was created by artist Matt Furie for his comic book “Boy’s Club,” in 2005. The character Pepe was created as a peaceful and good-natured frog but later became identified with numerous memes that spread hate speech, racist ideologies, and other forms of discriminatory content.
Pepe Coin Creators used the popularity of Pepe the Frog to give instant recognition to their meme coin. Using social media as a catalyst PEPE achieved overnight fame in the crypto community space.
Pepe Coin Features
The Pepe Coin is built on Ethereum Blockchain which has become one of the most highly traded currencies since its launch in April 2023.
This is a marvel in itself as DOGE since its inception took 4 years to reach a $1 Billion Market Capitalization while PEPE did it in just three weeks.
$PEPE official website describes the meme coin features as:
- No intrinsic value or financial return
$PEPE doesn’t hold any intrinsic value or expectation of financial return. Despite this $PEPE has been purchased hundreds of times on crypto exchanges such as Binance.
- A redistribution system for every transaction
$PEPE allocates a fraction, 1% of every transaction to a pool distributed amongst all current token holders. This system encourages user participation and promotes sustained investments in the project. Long-term stakers are the biggest beneficiaries of Pepe Coins.
- Tax-free transactions
$PEPE is tax-free, it doesn’t charge fees for buying or selling PEPE tokens. This is the most attractive feature hailed by the crypto community globally.
- Burning Mechanism
$PEPE was invented with a burning mechanism to create scarcity of Pepe Coins in the crypto market space. This will keep the prices of circulation $PEPE tokens high.
Pepe Coin was built considering the deflationary mechanism where a small percentage of tokens were burnt with each transaction creating coin scarcity and increasing prices of the remaining coins over time.
- Three Stage Roadmap
The Pepe coin has had a three-stage roadmap since its creation. Phase 1: Embrace the Meme; Phase 2: Cultivate the Vibe and Encourage HODLing; Phase 3: Achieve Meme Takeover.
These features make the Pepe Coin popular amongst the crypto masses. The meme coin is extremely volatile but from late April to May 2023, $PEPE market cap soared to a high of around $1.6 billion. This shows crypto coin users globally vouching for this meme coin.
Pepe Coin: Key Data & Working
- Pepe Coin has a cap on the maximum number of tokens supplied
It boasts 420,690,000,000 tokens in existence
- Pepe Token Distribution in the Crypto Market
93.1% of its tokens were in a liquidity pool during the launch. The remaining 6.9% was allocated for future use by multi-signature wallets, i.e. reserved for CEX (Centralized Exchange).
- First Price on Listing
$PEPE was $0.0000002823 on April 19, 2023, the day it was listed on the crypto exchange.
- All-Time High since Listing
$PEPE was $0.00000439 on May 05, 2023, the first day it was traded on Binance.
- All-Time Low since Listing
$PEPE’s lowest price was $0.000000055142, on April 18, 2023.
- Market Cap High
$PEPE soared to a high of around $1.6 billion, on late April to May 2023.
How to Buy Pepe Coin?
Here is the complete list where one can buy Pepe Coins:
- Centralized Crypto Exchanges
$PEPE can be traded on centralized crypto market exchanges like Binance, Kucoin, and Kraken. These are easy to understand for a newcomer in crypto world. Here buying PEPE Coin is like buying a digital product online.
- Decentralized Crypto Exchanges
$PEPE can be bought or sold on trading platforms like Binance, Kucoin, or Kraken. These are similar to an online market place. One can also buy $PEPE from Uniswap, a trading platform for crypto enthusiasts for trading Pepe tokens.
- Crypto Wallets
To buy PEPE Coin, you’ll need some Ethereum (ETH) in your crypto wallet first. Crypto wallets are downloaded from App store for mobile or smart phones. Computers require wallet extension for the web browser, like MetaMask extension from Google Chrome Browser.
Pepe Coin VS Dogecoin
$PEPE has enjoyed a phenomenal success since its creation but it pales in comparison DOGE. This is due to advantages enjoyed by DOGE. Dogecoin had the first mover advantage, the first meme coin in existence. It enjoys a robust community strength much larger than $PEPE. DOGE enjoys celebrity endorsements from Elon Musk, and other famous persons. $PEPE also faced disadvantage from meme coins market getting saturated by numerous other meme coins.
$PEPE coin or be it any other meme coin beating Doge, or even coming close to DOGE is a highly unlikely scenario in future.
PEPE Coin Ecosystem
$PEPE online popularity has acted as a double-edged sword for the meme coin. The social media accounts and websites of $PEPE are difficult to differentiate between legitimate and fake ones.
There is a strong presence of PEPE community users on X (formerly Twitter), Reddit, Facebook, TikTok, Discord, and Telegram but many of these communities post unreliable information promoting risky investment practices.
This is, however, not only specific to $PEPE but other meme coins as well. Like every other case of social media presence, one needs to be cautious about trusting online social media shares and posts.
Pepe Coin’s Future
$PEPE enthusiasts often discuss the potential of Pepe Coin reaching $1 in value or a pipe dream if even it was possible in near future?
If we use mathematical calculations then if hypothetically if $PEPE coin is $1 then the total token supply of Pepe Coins would be: $1 X 420,690,000,000,000 = $420.69 trillion (10x the total market capitalization of the U.S. stock market)
In a realistic scenario this will never happen, thus $PEPE will never be equivalent to $1 in future.
Pepe Coin is world’s most loved meme coin after DOGE, however, crypto markets are volatile by nature, it is advisable to do one’s own research or seek financial advise before investing in this frog meme coin.
Also Read: What is XRP staking?
