The Web3 space has always been full of surprises. This time it comes in the form of a frog. Not just any frog, Pepe the Frog! Pepe coin is the latest craze in the crypto space.
It’s literally everywhere. Pepe has been trending on Twitter, Youtube, and even made an appearance on a billboard in Time Square. So what is $PEPE and is it worth investing in? Let’s find out.
What Is Pepe Coin ($PEPE)?
Pepe is a meme coin created on the Ethereum blockchain with a supply of 420 trillion tokens. It’s inspired by the famous Pepe the Frog meme and has quickly become a top 100 cryptocurrency in the world according to CoinGecko, and a top 6 meme coin.
As for token distribution, 93.1% of Pepe coins have been sent to the liquidity pool while the remaining 6.9% of the supply remains in a multi-sig wallet, intended for use in CEX listings, bridges, and liquidity pools.
Anyone can easily track the wallet using the ENS name “pepecexwallet.eth”
To be clear, $PEPE coin has no association with Matt Furie or his creation of Pepe the Frog.
The token was simply created to pay homage to one of the most recognized memes on the internet.
That’s the beauty of $PEPE. It’s made for the people and doesn’t promise anything like most other meme coins on the market.
What Are Meme Coins?
Meme coins are cryptocurrencies that are inspired by popular internet memes.These coins aren’t new, they have been around since 2013 when Dogecoin launched. Meme coins are highly volatile and their value is based solely on supply and demand.
To create this demand social media and crypto influencers are often used to promote the coin.
This often leads to it crashing and burning once the influencer sells off their shares for a profit. Unfortunately, this leaves investors with a worthless token.
That said, some meme coins can be used as actual currency to purchase things like gift cards, tickets, and to tip creators on Twitch.
But only the ones that stand the test of time achieve this level of utility.
Who Founded Pepe Coin?
Pepe coin was launched on April 14, 2023, by an anonymous team. The coin launched with no presale and zero taxes.
The official website also states $PEPE was LP burnt and the contract renounced, meaning the original creator relinquished control of the contract and permanently removed their ability to make changes or updates to it.
Although we don’t know who’s behind $PEPE, there have been some rumors as to who might be behind the increasingly popular meme coin.
One rumor is that the creator of Pepe the Frog, Matt Furie, is behind the launch.
Another rumor is that certain online influencers are behind it, but none of these rumors have been confirmed.
Popular Meme Coin Examples
There are thousands of examples of meme coins that currently flood the market. The two most notable examples include Dogecoin and Shiba Inu. Dogecoin was created in 2013 and has since become the number one meme coin with a $10 billion market cap.
Shiba Inu was introduced 7 years later in 2020 and has also held on strong.
Dogecoin has gained so much popularity mainly because certain people with mass influence have mentioned it publicly.
Elon Musk is the most popular example.
Musk has mentioned $DOGE on several occasions including numerous times online and in live interviews, which has rocketed the price of the dog-inspired cryptocurrency.
But $PEPE appears to be an entirely different beast altogether.
Pepe Coin Market Activity
The value of Pepe coin has soared by over 1962%, bringing it to $0.00000134 with a market capitalization of more than $560 million. Pepe has been enjoying high trading volumes, with an average of over $450 million traded every day.
It’s worth noting that $PEPE is currently the best-performing coin in terms of growth, having achieved this impressive feat in a short period of time.
Here are some other noteworthy achievements that Pepe has accomplished since its launch:
- Pepe’s Twitter account amassed over 220k followers in under 3 weeks
- More than 80k unique wallet addresses hold $PEPE (not including centralized exchanges)
- “$PEPE” has been tweeted by millions of Twitter users and was trending daily
- There have been 24-hour Twitter spaces dedicated solely to discussing Pepe
What Does Pepe Coin Do?
Pepe coin has no intrinsic value or expectation of financial return, according to the website. There is no formal roadmap and the coin exists solely for entertainment purposes.
Nonetheless, some platforms are already beginning to accept $PEPE as a form of payment.
One example comes from Manifold.xyz — a popular NFT minting platform that now enables users to purchase NFTs using $PEPE.
Also, there are certain NFT projects that are launching soon that say they are going to accept $PEPE as a form of payment.
Should I Invest in Pepe Coin ($PEPE)?
You should only invest in $PEPE if you understand the risk involved. That risk being you could lose everything you invest. Of course, with high-risk, could come high rewards. Pepe coin has been performing well, so investing in the coin could result in profit.
In fact, investors who were early to $PEPE were able to turn a few hundred dollars into six figures.
I’m not saying that will be the case for you, but it’s already been proven that investing in the meme coin could result in a nice profit.
Before investing in anything you should always do your own research. Don’t take my or anyone else’s word. Come to your own conclusion.
Personally, I have spent over 25 hours in Twitter spaces listening to investors and other people who are deep in the crypto space talk about $PEPE.
I’ve also done a lot of my own research about Pepe the Frog as a cultural icon, and how Pepe has been used in certain political campaigns and protests around the world.
Here’s my perspective on the token:
- $PEPE is a cultural phenomenon (similar to CryptoPunks) but with a richer history
- Pepe the Frog is a meme that is recognized worldwide
- The largest centralized crypto exchanges (Coinbase, Binance, Kukoin, etc,.) are yet to list the coin, meaning there is still room for growth
- Many influencers and top media companies have been FUDing $PEPE, likely because they aren’t getting paid to promote it like with other meme coins
- $PEPE has seen significant growth unlike anything else in the crypto space
- It’s a bear market yet $PEPE is still pumping
- People are swapping their NFTs and crypto to buy $PEPE
Make of that whatever you want. But I believe $PEPE will go down in history as one of the greatest — if not THE greatest meme coins of all time (yes, I own some $PEPE).
Pepe is not just another meme coin. What sets it apart is the culture behind it. Pepe the Frog has been a fixture online since 2008, first appearing on platforms like Myspace and Fourchan.
This culture has given rise to a passionate community of Pepe enthusiasts from all over the world.
When I join Twitter spaces dedicated to Pepe, I hear people discussing it from places as diverse as China, Africa, and Canada.
What’s truly remarkable is the community is so welcoming and inclusive that even people who have never purchased cryptocurrency before are now investing in Pepe.
This unique aspect of the community is what truly sets PEPE apart from the rest.
Where to Buy Pepe Coin
You can buy Pepe coin on Uniswap by first purchasing ETH and then exchanging it for PEPE. Pepe coin is currently not available on popular centralized exchanges like Coinbase and Binance.
This is because these exchanges list cryptocurrencies based on their popularity. That said, it is expected that Pepe coin will be available on these platforms soon.
If you want to know Pepe coin’s current value, I use Dextools as it seems to be the most accurate.
Frequently Asked Questions
What to do with Pepe coin
Pepe coin has no intrinsic value or expectation of financial return. You can buy $PEPE as an investment. However, you must understand there is always the risk you will lose any money you invest into meme coins like $PEPE.
Where to buy Pepe coins in the US
The best place to buy Pepe coin currently is on Uniswap. To do this you will need a crypto wallet such as MetaMask. From there you can purchase ETH and exchange it for $PEPE.
Who is behind Pepe coin
The creator(s) of Pepe coin has chosen to remain anonymous. The coin is modeled after Pepe the Frog, a character created by Matt Furie. Nevertheless, the identity of the creator(s) holds little significance. It is the community that has driven the coin’s popularity.