In less than a year, Pepe has already become a staple in the highly successful meme coin narrative. Within months, it registered price increases of over 15,000% and overtook popular dog coins like DOGE and Shiba Inu in gains. PEPE is an ERC-20 token on the Ethereum blockchain, with a maximum supply of 420,690,000,000 tokens. The team states on the official website that Pepe Coin is a 100% decentralised do you write off fully depreciated assets and 0% tax meme token, and 100% of its liquidity is burned. Pepe Coin, named after the iconic meme character, is a cryptocurrency that emerged in April 2023, riding the coattails of internet culture’s fascination with the green frog. Created as a decentralised token on the Binance Smart Chain, Pepe Coin aims to infuse the digital asset world with the irreverent spirit of its namesake.
- It has been just casually created as a tribute to popular internet meme character known as “PEPE the Frog” which gained popularity in the early 2000s.
- According to the website, these tokens are set aside for future development and listing purposes.
- 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.
What Is PEPE?
Much like the meme it’s based on, PEPE’s journey reflects the ever-evolving landscape of cryptocurrencies, where innovation and pop culture collide in unexpected ways. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken will not undertake efforts to increase the value of any cryptoasset that you buy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.
Pepe Price Chart (PEPE)
According to the website, these tokens are set aside for future development and listing purposes. Like many other meme coin creators in the market, they have chosen to remain completely anonymous. Like other meme coins, PEPE has no solid foundation and strong intrinsic values, thus, many fear that this rally might not sustain for long.
Global Prices
Let’s dig deep into how this frog-faced “PEPE” has become the talk of the town within no time and how it entered the market’s top 100 cryptocurrencies, soaring overnight. The trading volume of Pepe (PEPE) is $648,569,694.26 in the last 24 hours, representing a -6.00% decrease from one day ago and signalling a recent fall in market activity. This came just as the crypto market appeared to be turning bullish again. When buying any meme coin project, not just PEPE, there are many risks that prospective buyers should know beforehand. PEPE, which surpassed its much popular counterparts, Dogecoin and ShibaInu within no time, has made both critics and huge fan following over the past one month.
PEPE Coin Overview
The project aims to capitalize on the popularity of meme coins, like Shiba Inu and Dogecoin, and strives to establish itself as one of the top meme-based cryptocurrencies. PEPE appeals to the cryptocurrency community by instituting a no-tax policy and being up-front about its lack of utility, keeping things pure and simple as a memecoin. Some experts, including crypto fund DFG founder James Wo, say that “[memecoins] are huge parts of the crypto trading landscape, whether we like it or not,” and that it is likely that memecoins like PEPE will continue to pop up. But PEPE itself may succumb to the fate of many flash-in-the-pan memecoins that have preceded it—including Grimacecoin, Pump Coin, and many others—only to fade from public view in a short time.
Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
It has been just casually created as a tribute to popular internet meme character known as “PEPE the Frog” which gained popularity in the early 2000s. Pepe’s creators have made clear that the coin holds no intrinsic value and is intended for entertainment purposes. Its early surge in price can be attributed to the enduring popularity of the Pepe the Frog meme, but as is typical of memecoins, high volatility should be expected. PEPE’s official Twitter account describes the token as the “most memeable memecoin in existence,” adding that the “dogs have had their day,” a reference to an earlier generation of memecoins including the once-popular Dogecoin. There are currently 391,790,000,000,000 (~93%) PEPE tokens in circulation. The team sent these tokens to liquidity pools for trading, and burned (permanently destroyed) their liquidity provider tokens (LP tokens).
Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions. There doesn’t appear to be any additional functionality for PEPE as of yet, beyond the usual functions of cryptocurrencies. Namely, being a borderless, pseudonymous means of transacting value digitally.
However, meme coins are highly volatile and speculative, and other factors in the macroeconomic environment and crypto space could influence PEPE’s price either way. “The remaining 6.9% of the supply is being held…only to be used as tokens for future centralized exchange listings, bridges, and liquidity pools. This wallet is easily trackable https://cryptolisting.org/ with the ENS name pepecexwallet.eth,” wrote the creator(s). On the contrary, PEPE has been designed to capitalize on the popularity of meme coins such as Dogecoin, Shiba Inu and others. That’s why PEPE coin is much like Doegcoin and Shiba Inu, the only difference is that the latter are dog-based coins and PEPE is a frog-based one.
Financial experts strongly believe that one should not forget that PEPE Coin is intended purely for entertainment purposes and it contains no intrinsic value and therefore there should be no expectation of financial return at all. Moreover, PEPE is a fairly new project with almost negligible price history for reference, therefore it might be risky to put your hard money into it. Still, if anyone really wishes to invest in crypto coins then it is better to go for mainstream coins such as Bitcoin and Ethereum, which should only constitute 5% of your total financial portfolio. When Musk swapped out the Twitter bird for Dogecoin’s iconic Shiba Inu avatar, the value of DOGE skyrocketed once again. 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. The most popular exchange to buy and trade Pepe is Gate.io, where the most active trading pair PEPE/USDT has a trading volume of $33,932,421.62 in the last 24 hours.
