Pepe Coin – What Is It?

What is a Pepe Coin? Does it have a future?

What is Pepe Coin (PEPE)?

Firstly, PEPE launched on April 17, with little fanfare. Secondly, it is based on the Pepe Frog meme, originally created by Matt Furie in 2005.

And has been previously associated with alt-right political movements, among other trends to put it simply.

Secondly, like several other tokens based on Pepe the Frog, PEPE does not have an official connection with Furie or the original cartoon character.

Thirdly, other aspects of PEPE point to its position as a meme coin, including the fact that the circulating supply of PEPE tokens is 420 million, a reference to cannabis culture’s “4/20”.

Most degen of Crypto Twitter traders seems to be moving over Shiba Inu-fashioned tokens to those branded after the internet meme Pepe the Frog.

Read More Crypto ETFs – A Good Investment?

Pepe Coin (PEPE)

Firstly, launched in mid-April 2023, PEPE is an example of a meme coin, though one of a different variety than the off-popular Doge or Shiba Inu tokens.

Secondly, Meme coins cryptos are based on internet memes and are usually popularized and promoted by influencers or major figures in space like Elon Musk, have drawn both investor attention and eye rolls over a perceived lack of seriousness.

Thirdly, the potential for investors to score big with meme coins is real, nonetheless.

Pepe Coin (PEPE) Launch

Chiefly, PEPE’s official Twitter account describes the token as the “most memorable meme coin in existence,” adding that the “dogs have had their day,” a reference to an earlier generation of meme coins including the once-popular Dogecoin.

Features of Pepe Coin

Essentially, the process of calling an Ethereum smart contract and launching a token is inexpensive and easy. Though generating liquidity can be a more difficult challenge.

In the first few days of its existence, PEPE quickly rose to prominence because of a high-profile purchase that captivated the cryptocurrency community on Twitter.

Read More Crypto Money – How To Earn Money?

Investments

Firstly, a meme coin investor swapped 0.125 ETH worth about $250, for a whopping 5.9 trillion PEPE tokens.

Secondly, as interest in the meme coin grew, the value of those tokens surged to about $1.8 million by April 19, 2023, yielding a potential return of roughly 4,500 times the initial investment.

Perhaps, unsurprisingly, the prospect of a quick payday drew in tens of thousands of other investors hoping to stock up on PEPE tokens before the price reached an upper limit.

However, it’s important to note that the investor who bought those 5.9 trillion tokens may have a difficult time selling them at the current price, given PEPE’s relatively low liquidity pool.

Future of PEPE Coin

Firstly, the future of PEPE remains unclear. Some experts, including crypto fund DFG founder James Wo, say that “meme coins are huge parts of the crypto trading landscape, whether we like it or not.”

Secondly, it is likely that meme coins like PEPE will continue to pop up. But PEPE itself may succumb to the fate of many flash-in-the-pan meme coins that have preceded it.

Thereby, including Grimacecoin, Pump Coin, and many others only to fade away from public view in a short time.

In this case, the question for investors including the person holding close to 6 trillion PEPE will be whether they can squeeze a payday out of the token before the cryptocurrency community’s attention is drawn elsewhere.

Read More Crypto Yield Farming – How It Works?

Pepe Coin Market Cap

Firstly, the new ‘Pepe the Frog’ Crypto Token becomes the Sixth largest Meme Coin by Market Cap.

A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy.

Secondly, the token is called (PEPE) and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just over $130 million.

However, amidst the fast rise, both the website coin marketcap.com and the web3 security startup Goplulabs have warned that the transaction owner may have the ability to modify the transaction tax and blacklist function.

PEPE Market Booms

Firstly, Doge and the other dog friends in the meme economy have a new comparison, but this time, the newcomer is a frog, specifically Matt Furie’s Pepe the Frog.

Secondly, the coin Pepe (PEPE) has not been around for long, appearing on the scene on April 18, 2023.

According to current statistics, PEPE is up more than 400% from the coin’s all-time low on the day it started trading.

Thirdly, two days later, on April 20, PEPE’s market valuation reached a high of $165 million.

The number of Pepe tokens in circulation is 420.69 trillion, and at the time of writing, there are 29,756 PEPE holders.

Read More Crypto Market – How to Find Pullback?

Present Position of PEPE

Firstly, the crypto asset has recorded 122,368 transfers. Out of the 29,756 PEPE owners, the top ten wallets command 17.25% of the entire supply.

Additionally, according to PEPE’s rich list statistics, the top 100 PEPE holders own 44.51% of the entire token supply.

Further, on coingecko.com , PEPE is ranked #245 out of 10,755 crypto assets, and the web portal’s meme coin economy page shows that PEPE is the sixth-largest meme coin asset in terms of market capitalization.

On coinmarketcap.com (CMC), PEPE is ranked #2,605 out of 23, 473 listed cryptocurrencies on the website.

Read More Crypto Tools – Best 6 Free Tools In 2023

The team behind PEPE Coin

Firstly, according to Gopluslabs, the smart contract of the following asset can be modified by the contract creator (for example, disable selling, change fees, mint new tokens, or transfer tokens).

Please exercise caution before taking any action and DYOR. If the PEPE team has the authority to modify the transaction tax, it would go against the project’s tokenomics ethos.

“No Taxes, No Bullish”. It’s that simple “The PEPE tokenomics page details. “93.1% of the tokens were sent to the liquidity pool, LP tokens were burnt, and the contract is renounced.

Further, the remaining 6.9% of the supply is being held in a multi-sig team wallet only to be used as tokens for future centralized exchange listings, bridges, and liquidity pools.

Moreover, this wallet is easily trackable with the ENS name “pepecexwallet. eth”.

“PEPE’s web portal also shows a picture of the frog urinating on the top meme assets like SHIB, DOGE, and APE.

Read More Crypto Sign-Up-10 Bonuses In 2023

CONCLUSION

Firstly, the new PEPE token website claims that the crypto asset is not a financial vehicle with any real promises.

“PEPE” is a meme coin with no intrinsic value or expectation of financial return,” the website discloses.

Additionally, there is no formal team or roadmap. Lastly, the coin is completely useless and for entertainment purposes only.