PEPE coin mania began just after its launch in mid-April 2023, though it initially went live with little hype. Since it struck the market, its effects on the crypto industry - and the meme coin sector - continue to grow. It’s not every day that a cryptocurrency based on a cartoon frog drawing goes viral.
Notably, the PEPE coin soared into the top 100 cryptos by market cap in just two weeks. What exactly draws crypto enthusiasts to the PEPE coin? Is it a good investment, or is this meme coin bound to croak?
Before you decide to add a PEPE coin to your portfolio, you should know all the facts.
Meme coins took the crypto world by storm in 2013, when Dogecoin launched. But what is a meme coin? Meme coins are cryptocurrencies inspired by popular Internet memes. These are funny images, videos, or text often sourced from pop culture and rapidly spread online. Doge, a humorous way for Internet users to pronounce doggy, is represented by a cute Shiba Inu puppy.
The Dogecoin, created by software engineers Billy Markus and Jackson Palmer, was promoted by Elon Musk. Its popularity cemented meme coins in the crypto industry, allowing users to become active as a part of their favorite Internet jokes.
Meme coins still offer many of the usually sought-after cryptocurrency benefits, making them an enticing investment opportunity. Shiba Inu (SHIB), Floki, and Cate are examples of other popular meme coins.
The PEPE cryptocurrency is inspired by Pepe the Frog, a purposely badly-drawn cartoon frog with hilarious expressions. The frog was first created by American artist Matt Furie in 2005 but became a meme years later. The frog is often used as a reaction image, but its popularity exploded with users who became very attached to Pepe.
Now, there are entire video series, merchandise collections, and even a cryptocurrency based on Pepe. PEPE coin was created to be the ‘’most memorable memecoin in existence’’. The token’s creators also added a disclaimer that there is no association between the crypto and the original drawing’s creator, Matt Furie.
The PEPEcoin’s origins run back to 2016 when its developer’s team was first formed. Its members originally wanted to create an NFT platform under the name Memetic. Its focus instead swerved to the now mega-popular token, which supports the team’s ongoing tech projects.
PEPE coin launched on April 17 of 2023, first appearing on Etherscan. In less than three weeks, PEPE coin surpassed a $1 billion market cap. It entered the top 100 cryptocurrencies by market cap and currently holds 76th place. This cemented PEPE coin’s place as a top meme coin contender.
If meme coins are based on humor and jokes, why should you take the Pepe cryptocurrency seriously? Traders might find the Pepe crypto team’s jokes about having no plans for the token an indicator - but these are indeed jokes. The coin’s team has laid out a three-phase strategy, listing the benefits and opportunities token holders will reap in each phase.
Other than these advantages, there are three main reasons you should genuinely consider adding PEPE coins to your investments.
Even before the coin’s creation, a huge community of people loved the Pepe meme. Now, the coin unites a large community of crypto enthusiasts. There’s a huge range of incredibly talented members, from crypto experts to artists and designers. They all share a loyalty to the PEPE coin. The PEPE coin Army will support, advise, and work together to ensure their crypto investments truly pay off.
Tokenomics, or token economics, describes the structure of the distribution and incentives behind a cryptocurrency. The field plays a huge role in determining the ongoing value of a specific digital asset. PEPE’s total supply is 420,690,000,000,000 tokens. This is a not-so-subtle nod to the meme numbers 420 and 69. About 93% is in the liquidity pool, which was then burnt.
The remaining 7% is held in a multi-sig wallet. In comparison, the popular cryptocurrency Bitcoin has a total supply of 21,000,000 and Ethereum has a circulating supply of 120,540,000. PEPE coin’s current total supply is 133,769,420 tokens.
Its massive supply means that it will satiate demand, allowing for easy use. Its tokenomics system is also transparent and simple to follow. At the time of writing, 50 USD will get you just over 1,300 PEPE coins. With over 100,000 holders, it’s clear that the crypto’s tokenomics are attractive.
The image above shows just how many goals there are for PEPE to reach. Many are beyond its success as a cryptocurrency. Its team wants community partnerships for a digital newsletter, create custom merch, form a Pepe academy, and continue to improve their NFT marketplace: Pepe.dj.
The official PEPE coin’s website even has a Utility section that hints at loftier objectives. Of course, these are communicated in the form of humorous meme images. They include Meta platforms, a PepeAI Health Monitor (for servers), and the Kekdaq 2.0 Pepe asset exchange.
Whether the Pepe cryptocurrency is a good investment for you depends on how you weigh its benefits versus its risks. Here’s what you should be aware of when considering Pepe coin.
There’s no denying just how much of an impact the PEPE coin made in the crypto world. It’s still going strong, serving as a foundation for future Pepe crypto-related projects. For many, the PEPE coin became a valuable investment, as they became part of its community. Using the token for long-term investment, or to contribute to the crypto industry, is a great opportunity.
However, the token also has some potential drawbacks that investors need to consider. So the bottom line is to follow the simple rules of investment:
If you follow those rules, you should be set up for success.
Disclaimer: “The content should not be construed as investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is made available to you for information and/or education purposes only.
You should take independent investment advice from a professional in connection with, or independently research and verify any information that you find in the article and wish to rely upon.”