What is PEPE, crypto's latest hot memecoin?

PEPE, a cryptocurrency inspired by the internet-famous Pepe the Frog meme, has recently taken the crypto world by storm. This article explores the origins, characteristics, and potential future of this intriguing memecoin.

A brief history of Pepe the Frog

Pepe the Frog, the inspiration behind the PEPE coin, was created in 2005 by American cartoonist Matt Furie for his comic 'Boy's Club'. The character quickly gained popularity across various social media platforms, evolving into a widely recognized internet meme. Pepe's influence extended beyond simple humor, occasionally being adopted as a symbol by online political movements.

About PEPE the coin

PEPE coin was launched in April 2023, entering the cryptocurrency market as a relatively new player. Despite Pepe the Frog's long-standing popularity and the previous success of certain memecoins, PEPE's creation came surprisingly late. It's important to note that the coin has no official association with Matt Furie, Pepe's original creator. Instead, it serves as a tribute to the beloved meme character.

In the months following its launch, PEPE experienced a remarkable surge, with its market capitalization reaching significant levels. This rapid growth quickly positioned PEPE among the top cryptocurrencies by market cap, competing with established memecoins.

The tokenomics and blockchain

PEPE is an ERC-20 token built on the Ethereum blockchain. This is a crucial aspect of PEPE's structure, as it answers the question "what blockchain is PEPE on?" The Ethereum blockchain provides PEPE with a robust and widely-used platform for its operations.

The coin has a circulating supply of 420.69 trillion tokens, a number likely chosen for its meme value. PEPE implements a redistribution system designed to reward and incentivize long-term holders, potentially contributing to the project's stability.

Upon launch, 93.1% of the total supply was allocated to the liquidity pool, with the remaining 6.9% reserved in a multi-signature wallet for future use, such as listings on various trading platforms, bridges, and liquidity pool management. To enhance security and decentralization, the liquidity pool tokens were burned, and the deployer contract was renounced.

The future of the PEPE project

While the creators of PEPE have outlined a tentative roadmap, they emphasize that PEPE is primarily a meme coin without intrinsic value or expectations of financial returns. The informal roadmap includes:

1. Launching the coin, securing major listings, and trending on social media.
2. Establishing community partnerships, launching a digital newsletter, creating a token-gated Discord group, and aiming for a large number of holders across trading platforms.
3. Launching a PEPE academy, developing tools, offering merchandise, and potentially reaching a substantial number of holders on major exchanges.

However, potential investors should note the creators' explicit statement that the coin is "completely useless and for entertainment purposes only."

Conclusion

PEPE represents an interesting case study in the world of cryptocurrencies, particularly in the realm of memecoins. Its rise to prominence demonstrates the ongoing appeal of meme-based digital assets in the crypto market. However, as with all memecoins, PEPE is characterized by high volatility and lacks intrinsic value. While its success thus far can be attributed to the enduring popularity of the Pepe the Frog meme, potential investors should approach with caution, understanding that such investments are speculative and carry significant risks. The future of PEPE, like many memecoins, remains uncertain and will likely depend on continued community interest and broader market trends in the cryptocurrency space.

FAQ

Is PEPE on Solana or Ethereum?

PEPE is primarily on Ethereum, but it's also available on Solana. The original PEPE token was launched on Ethereum's network.

What network is PEPE built on?

PEPE is built on the Ethereum network as an ERC-20 token.

Does Pepe Coin have a future?

Pepe Coin's future looks promising. Predictions suggest it could reach $0.00004500 by 2029 if community engagement remains strong and market conditions are favorable. Its growth potential is tied to broader crypto trends and social media sentiment.