The PEPE memecoin is a recent phenomenon in the cryptocurrency industry that reflects a recurring pattern of market behavior. Every once in a while, a new memecoin emerges and captures the attention of the crypto community. The PEPE memecoin achieved this feat in less than two weeks since its launch, reaching a top 100 position among all crypto projects and attaining a market capitalization of over $400 million.
PEPE is a memecoin that pays tribute to Pepe the Frog, an internet meme created by Matt Furie in the early 2000s. Unlike other popular memecoins such as Dogecoin and Shiba Inu, PEPE does not charge any transaction fees and rewards its holders with a redistribution system and a burning mechanism.
PEPE was launched on Ethereum in mid-April 2023 and quickly gained attention and support from the crypto community. PEPE has three phases in its roadmap, which include listing on CoinMarketCap, trending on Twitter, getting listed on centralized and tier 1 exchanges, and taking over the meme world.
What Are Memecoins?
Memes are a fundamental part of the Internet culture. They have been around since the early days of the Web and will probably persist for a long time. They have also interacted with the cryptocurrency industry in various ways. While most coins aim to provide some kind of functionality, memecoins rely on their viral potential and the rapid spread of memes.
Some examples are Dogecoin, the pioneer memecoin that gained widespread attention and has remained among the top cryptocurrencies for many years. Others are Shiba Inu, Floki Inu, and so on. Finally, there’s the PEPE memecoin, a cryptocurrency that has also achieved remarkable popularity in a way that, maybe, no other memecoin has done before.
Quick History of PEPE coin
The coin was launched on Ethereum in mid-April 2023 and quickly gained popularity among crypto enthusiasts. It has several features that make it unique and appealing to the crypto community. First, it has a no-tax policy, meaning that there are no fees for transactions or transfers of PEPE. Second, it has a redistribution system that rewards long-term holders with more PEPE tokens. Third, it has a burning mechanism that reduces the total supply of PEPE over time, creating scarcity and increasing its value. PEPE is traded on several major exchanges, such as Huobi, MEXC, OKX, Uniswap, and others.
What is PEPE coin?
The PEPE memecoin is a type of cryptocurrency that is based on an Internet meme and has a humorous tone. The website of the PEPE memecoin claims that it is “the most memeable memecoin in existence.” and makes fun of other popular meme coins such as Shiba Inu, Floki Inu, Dogecoin, and others.
The PEPE memecoin does not pretend to have any value or utility and warns its users that it is only for entertainment purposes. The website states:
“PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”
This kind of disclaimer is not uncommon in the crypto space. Many meme coins have emerged in the past, offering no guarantees and even discouraging users from investing in them. However, some meme coins have gained popularity and market capitalization due to online hype and celebrity endorsements.
Pepe coin was launched on the market without any pre-sale and discreetly. What is striking is that the project website does not reveal who is behind the token, and the creators prefer to remain anonymous. Although this may seem strange to some, it is not uncommon in the world of cryptocurrencies, where many projects are launched by anonymous individuals.
The Meme That Started It All
Pepe the Frog is an internet meme that originated from a comic strip called Boy’s Club, created by Matt Furie in 2005. The meme is a green frog with a human-like body who often expresses his feelings with the phrase “feels good man”. It became popular on websites such as Myspace, Gaia Online, and 4chan, where users modified his face and slogan to suit different scenarios and emotions, such as sadness, anger, smugness, and more. Pepe also spawned a phenomenon of “rare Pepes”, which are unique and creative variations of the meme that are treated like trading cards.
Tokenomics
PEPE has a total token supply of 420,690,000,000,000, which is a nod to the well-known meme numbers 4:20 and 69. The official website provides more details on this. You can also monitor this wallet with the ENS name “pepecexwallet.eth.”
How to Buy PEPE Coin
To buy Pepe Coin, investors need to set up a MetaMask, Coinbase, or Uniswap wallet that can send and receive Ethereum and other ERC-20 tokens. Once the wallet is ready, the user can exchange ETH for PEPE. However, it is important to note that investing in Pepe Coin is risky because a small number of investment whales currently own large amounts of this altcoin, and their trading activities have already caused price surges.
What The Future Holds for PEPE coin?
Many people credit Pepe Coin’s quick ascent to fame with several high-profile transactions that attracted the attention of the cryptocurrency community on social media, particularly Twitter.
Pepecoin’s unofficial roadmap is divided into three sections: The coin’s launch and Twitter promotion were the primary goals of the first phase. Community alliances and listing on Tier 1 centralized cryptocurrency exchanges (CEXes) are the main goals of the second phase. Establishing a Pepe Academy and promoting Pepe goods are planned to occur in the third phase.
CONCLUSION
The freshly minted Pepe Coin may become a significant player in the meme money industry if the success of other meme coins is any indication. Despite being built on a popular online joke, Pepe is a very hazardous business because it lacks a proven business plan.
