What Is Pepe Coin?: Guide to the memecoin

What Is Pepe Coin?: Guide to the memecoin

what is pepe crypto

Ethereum gas fees apply when buying, selling, and transferring PEPE coins. 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) https://cryptolisting.org/ consensus mechanism. Sign up for free online courses covering the most important core topics in the crypto universe and earn your on-chain certificate – demonstrating your new knowledge of major Web3 topics.

Pepe Coin Roadmap

The most popular meme coins are, without a doubt, Shiba Inu and Dogecoin. Their price history is mostly positive, and their token prices have managed to remain relatively stable despite the many challenges they had to face. 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. On launch, 93.1% of the tokens in supply were sent to the liquidity pool, with the remaining 6.9% of coins held in a multi-signature wallet to be used for future centralized exchange listings, bridges, and liquidity pool. Meanwhile, the LP tokens were burnt, and the deployer contract was renounced.

How Much Will PEPE Be in 2024?

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. 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.

PEPE price and tokenomics

Because of their virality, popular meme coins can be prone to especially high price volatility. In part, this is due to the sector’s reputation for being very high-risk but potentially high-reward. It’s true, some have successfully profited from the sharp price movements of meme coins. But equally, many traders have also lost out because of the wild price swings. It’s too early to make a certain price prediction for Pepe coin, considering its recent launch.

what is pepe crypto

  1. But the potential for investors to score big with memecoins is real, nonetheless.
  2. On X (formerly Twitter), the team came clear on what happened, but the token’s value only recovered with another announcement made in October.
  3. This aims to maintain scarcity despite the coin’s 420,690,000,000,000 maximum supply.

Launched in mid-April 2023, PEPE is an example of a memecoin, though one of a different variety than the oft-popular doge or Shiba Inu tokens. But the potential for investors to score big with memecoins is real, nonetheless. Note that there are multiple memecoins with similar names; we are focused specifically on $PEPE here.

There is no doubt that crypto enthusiasts have all the reasons to consider PEPE coin as the next potential meme coin due to its massive entry and unexpected popularity. PEPE has been able to impress the whole crypto market by its amazing performance since its launch and has shown that it can anytime compete with the top major meme coins at par. 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. Those 6.9% remaining PEPE tokens will be used for future listings, bridges, and liquidity pools.

In late April to May 2023, the explosive surge of PEPE caused its market cap to reach a high of $1.6 billion at one point, minting millionaires out of early holders and attracting a strong community of like-minded followers. It has induced what some may dub a “memecoin season,” causing other memecoins — some launched within hours — to go on spectacular pumps and just as astounding dumps. It remains to be seen if PEPE and other memecoins will go on to new highs, although that is certainly the hope of many believers waiting for the when will or not it’s potential to invest in a hashgraph-primarily based cryptocurrency coming BTC halving cycle praying for a Bull Run. The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s. While it is the volatility of meme coins that may attract many to this narrative, as it offers the opportunity for incredible gains, this also means the price can drop just as suddenly. Experts speculate that the upcoming Bitcoin halving in April 2024 will lift the crypto market as a whole — a phenomenon seen after past halving events.

So, the reason we’re talking about Pepe Coin today is because the currency’s value has really boomed since it came on the scene, trading on the Ethereum blockchain. It also gained attention from the crypto press as its market cap shot up to eight-digit values and Dogecoin’s price saw concurrent declines. The momentum kept up going into May, as Pepe Coin garnered 69,000 traders (nice) and gained a fresh hype cycle off a Times Square display. As usership surged, $PEPE’s still-anonymous founders decided that their Twitter avatar should ditch the MAGA-style hat. And, while Dogecoin and related meme-logo cryptocurrencies have been famous for a while now, the urge to pump more of these types of tokens into the crypto space probably has its roots in the “memestock” craze from 2021. Anyway, key WallStreetBets players have gone from meme stocks to memecoins; Christopher Berrios, the founder of WallStreetBets’ private Facebook group, is one of $PEPE’s most enthusiastic backers.

Frog-faced PEPE is one of the best examples of “rise to fame” which have surely changed the fortunes of many by making bumper profits for them. But, if you have missed the bus, then the chances of catching it again seems slim as no one can predict what happens next in the crypto space. Interestingly, April was an amazing month for PEPE, and it is quite evident by the google search data. The Google Trend score for “PEPE coin” rose from three to 100 from the week of April 9, 2023 to the week of May 15, where the value 100 depicts the peak popularity for a specific keyword search on google.

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. 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. Of the maximum supply, 93.1% were sent to the liquidity pool on Uniswap, where LP tokens were burnt, and the deployer contract was sent to a null address. The remaining 6.9% is held in a multi-sig wallet, for future CEX listings, bridges and liquidity pools.

what is pepe crypto