What is Pepe Coin? $PEPE Explained

History of Pepe

 Pepe the Frog is a cartoon character created by the artist Matt Furie in 2005. This first came to light in a comic book called “Boys Club”, and quickly became popular as an internet meme. People shared it across various social media accounts with different captions, giving it a relativistic presence in the online culture. 

Over time, Pepe’s popularity grew, and now it has become a symbol of humor and memes. The creation of Pepe Coin builds on this same cultural significance. 

The crypto developers saw Pepe’s widespread recognition as an opportunity to create a cryptocurrency that resonates with meme lovers and internet communities. And, as a result, it was launched by US developers on April 2023.

How does Pepe Coin work?

Pepe Coin operates using blockchain technology. Blockchains are digital ledgers that store all transactions securely and transparently. 

Here’s a simple breakdown of how it works:

• Creation: Developers create Pepe Coin by using a blockchain network. They set rules for how the coin will function, such as the total supply and distribution.
• Trading: Now, people can buy, sell, or trade Pepe Coins on cryptocurrency exchanges. Prices depend on market demand, and this is often driven by online trends and community enthusiasm.
• Community Involvement: Pepe Coin depends on its community. Social media campaigns, memes, and influencers play a big role in promoting it and increasing its popularity.
• Speculation: As discussed, Pepe Coin doesn’t have a specific utility, its value is mostly speculative. Investors buy it hoping the price will rise as more people get involved.

Main features of Pepe Coin

• Deflationary Supply: Pepe Coin reduces its total supply over time. With each transaction, a small number of tokens are burnt, creating scarcity to increase the value of the coin as fewer tokens are available.
• Rewards for Holders: A part of every transaction is shared with existing token holders. This means you can earn more coins simply by holding Pepe Coin in your wallet.
• No Transaction Fees: Pepe Coin has a no-tax policy, meaning there are no extra fees for trading or transferring the coin.
• Strong Community Support: Pepe Coin relies heavily on its community of fans who actively share memes, discuss the coin, and promote it online. This helps keep the coin popular and increases its visibility.

The Pepe Coin community and ecosystem

The Pepe Coin community is very active, with a large following on social media. The coin’s Twitter (X) page has over 766,000 followers, and its official Telegram group has more than 25,000 members. These platforms allow fans to connect, share updates, and grow the community further.

Benefits of Pepe

• Community Support: Pepe Coin relies on a strong and active community that promotes it through memes and social media.
• Famous Meme Appeal: Being based on the well-known “Pepe the Frog” meme makes the coin popular among internet users.
• Chance for Quick Profits: Pepe Coin’s price can rise quickly during viral trends, giving investors a chance to earn money fast.
• Low Starting Price: The coin is affordable, allowing people to invest small amounts.

Disadvantages of Pepe

• Unstable Prices: Pepe Coin’s price can go up or down very quickly, making it risky to invest.
• No Real Use: Pepe Coin doesn’t have any real purpose beyond being a fun meme.
• Depends on Community: Pepe Coin’s success depends on people staying interested. If interest fades, so does its value.

Tokenomics and Pepe Coin price history

Pepe Coin ($PEPE) is an ERC-20 token built on the Ethereum blockchain. The total supply at launch was 420.69 trillion tokens. Out of this, 50% (210 trillion tokens) were burned to reduce supply and increase demand. Despite the initial burn, the current circulating supply is 420.69 trillion tokens due to mechanisms like reintroductions and ongoing burns. The maximum supply is fixed at 420.69 trillion tokens.

The distribution of tokens was planned to build trust in the community. Around 93.1% of the tokens were added to the liquidity pool, and the liquidity provider (LP) tokens were burned, with the contract renounced to ensure transparency. The remaining 6.9% of tokens are held in a secure wallet for future use, such as listings on centralized exchanges, bridges, and liquidity pools.

Pepe Coin was launched in 2023, and its price has seen many ups and downs. It started with a price of around $$0.000000001 per token. The lowest price recorded was $0.0000000000101062. Over the past year, Pepe Coin’s value has grown significantly, increasing by over 1,400%. However, like other meme coins, its price has been highly unpredictable.

As of now, the PEPE price is $0.00001631, with a daily trading volume in billions. Its market capitalization ranks it among the top 30 cryptocurrencies.

How to buy Pepe Coin?

Step 1: Choose a Crypto Exchange

The first step in buying Pepe Coin is to choose a reliable cryptocurrency exchange that supports it. Since Pepe Coin is popular, it’s listed on all the best crypto exchanges like Binance and Bybit.

Step 2: Create and Verify Your Binance Account

Once you choose Binance as your exchange, visit its official website or download the Binance app. Sign up for a new account by providing your email address or phone number and setting a password. 

To better security and to unlock features like deposits and withdrawals, you’ll need to verify your identity. This process usually involves submitting a government-issued ID and completing a facial verification step.

Step 3: Deposit Funds into Your Binance Wallet

After your account is set up and verified, deposit funds to buy Pepe Coin. Binance allows deposits in two main ways:

• Bank Transfer or Card Payment: Use your local currency to deposit money directly into Binance. Navigate to the “Buy Crypto” section on the dashboard and select the method you prefer.
• Crypto Deposit: If you already own cryptocurrency, transfer it to your Binance wallet. Go to “Wallet”, choose “Deposit”, and follow the instructions to send crypto from another wallet or exchange.

Step 4: Buy Pepe Coin

Use the search bar at the top of the homepage and type “PEPE”. Click on the Pepe Coin listing, which will display its trading pairs, such as PEPE/USDT (Tether) or PEPE/BTC. Choose a trading pair based on the currency you deposited.

Now it’s time to purchase Pepe Coin. You can place or limit orders or buy on-market orders. After buying Pepe Coin, you’ll find it in your Binance wallet. For extra safety, consider transferring your coins to a private wallet like a hardware wallet or a software wallet with private key access.

Conclusion: The Future of Pepe Coin

In a nutshell, Pepe Coin is a fun-based cryptocurrency gaining attention due to its funny genesis and active community. It brings unique features of a deflationary supply coupled with rewards to holders, along with high risk due to speculativeness and extreme fluctuations in price. 

Whether it will be a good investment or bad depends on when one invests and the circumstances of the market. Like other meme coins, any investment in Pepe Coin will require caution as well as proper research.

FAQs

Are Pepe Coin and Pepe Coin 2.0 the same?

No, Pepe Coin and Pepe Coin 2.0 are not the same. Pepe 2.0 is a separate meme coin with a very low market cap and is not so popular compared to a real Pepe Coin. 

Is Pepe Coin linked to the Pepe the Frog meme?

Yes, Pepe Coin is linked to the “Pepe the Frog” meme. The meme originated from a comic character created by artist Matt Furie in 2005.

Will the $PEPE Coin reach $1?

Pepe Coin is currently priced at $0.000016, with a market cap of around $6.75 billion. To reach $1, the market cap would need to increase to approximately $420 trillion, assuming the supply stays the same. This is an enormous increase in value, making it almost impossible for $PEPE Coin to reach $1 under current circumstances.

What is a $PEPE Coin worth?

According to CoinMarketCap, $PEPE Coin is trading at approximately $0.000016 per token.

Is $PEPE Coin a good investment?

It’s difficult to say whether $PEPE Coin is a good investment. Like many meme coins, its price is highly volatile and can be changed by trends or social media hype rather than solid fundamentals. However, if you buy at the right time, such as during a dip or after some positive technical analysis or news about the coin, there may be opportunities to make a profit.