Pepe Coin (PEPE) is one of the most prominent meme coins in the cryptocurrency industry that is built on the Ethereum blockchain. The coin was launched in April 2023, and after the launch, Pepe Coin became one of the most traded cryptocurrencies in the market. Pepe Coin was inspired by the renowned ‘Pepe the Frog’ meme, and it has gained immense popularity due to its humor and community-driven nature.
Even if the coin has no intrinsic value or utility, it has managed to draw in the interest of thousands of crypto enthusiasts and investors. Pepe Coin leverages all the benefits of the Ethereum network, including enhanced security features thanks to its Proof-of-Stake (PoS) consensus algorithm. With a clear roadmap, Pepe Coin is aimed at maximizing popularity via listings on popular exchanges and the advancement of new features.
In this article, we will discuss Pepe Coin, the origin of Pepe Coin (PEPE) and developments, mechanics, key features, and tokenomics.
Origin of PEPE
Pepe the Frog is a cartoon character developed by an artist known as Matt Furie for his comic publication ‘Boy’s Club.’ The book was first published in 2005. Pepe was a peaceful and good-natured frog. After the publication of the book, the character was widely accepted by audiences across the world, and it became widely shared on numerous social media platforms.
During the U.S. presidential election in 2016, the character was co-opted by several online communities and used in various memes that spread hate speech, racist ideologies, and other kinds of discriminatory content.
Gradually, the popularity of Pepe grew, and now it has become a symbol of fun and memes. Pepe Coin was first launched in April 2023 and gained significant popularity. The market capitalization of the coin has exceeded $1 billion within three weeks of its introduction. The success was driven by the power of the Pepe the Frog meme, which later became the symbol of internet culture.
The founders of Pepe Coin remain unknown. However, the unknown founders have successfully leveraged social media platforms, including Telegram and X (formerly Twitter), to promote the project.
Pepe Coin has no relation with the creator of Pepe the Frog character,. The use of Pepe the Frog has made a way to increase the visibility and appeal of Pepe Coin among the crypto community.
How Pepe Coin (PEPE) Works?
Pepe Coin functions with the help of blockchain technology. As you know, blockchains are digital ledgers to store all transactions transparently and securely. Let’s look at the workings of Pepe Coin.
- Creation: With the help of blockchain technology, developers create Pepe Coin. developers will set rules for how the coin operates, such as the total supply and distribution.
- Trading: Once the coin has been created, users can purchase, sell, or trade Pepe Coins on cryptocurrency exchanges. The price of Pepe Coin will be determined by market demand, and often driven by online trends and community enthusiasm.
- Community Involvement: Pepe Coin heavily depends on its community. Social media campaigns, influencers, and memes play a pivotal role in promoting the coin and maximizing its popularity.
- Speculation: As you know, Pepe Coin does not have any particular utility, its value is mostly speculative.
Key Features of Pepe Coin
- Deflationary Supply: Pepe Coin decreases its total supply over time. A small amount of tokens will be burnt with each transaction, creating scarcity to maximize the value of the coin as fewer tokens are available.
- Rewards for Holders: The existing token holders will be rewarded with a small amount of every transaction. This will allow holders to earn more coins by just holding Pepe Coin in their wallet.
- No Transaction Fees: Pepe Coin comes with a no-tax policy, meaning the users do not have to pay any extra fees for trading and transferring the coin.
- Robust Community Support: Pepe Coin heavily depends on its community members who actively share memes, discuss the coin, and promote it online. These combined activities help the coin to keep its popularity and maximize its visibility.
Tokenomics of Pepe Coin
The total supply of Pepe Coin is 420.69 trillion tokens. Out of these 420.69 trillion tokens, half of the supply, meaning 210 trillion tokens, were burned to decrease supply and increase demand. Despite the initial burn, currently 420.69 trillion PEPE tokens are circulating, due to mechanisms like ongoing burns and reintroductions. The maximum supply is 420.69 trillion PEPE tokens.
Around 93.1% of the token supply was allocated to the liquidity pool. The remaining 6.9% are kept in a secure wallet for future uses, such as bridges, listings, centralized exchanges, and liquidity pools.
Advantages and Disadvantages of Pepe Coin (PEPE)
Let’s look at the major advantages and disadvantages of Pepe Coin.
Advantages
- Pepe Coin heavily depends on a robust and active community that encourages the project via memes and social media platforms.
- The renowned ‘Pepe the Frog’ meme increases the popularity of the coin among internet users.
- The value of Pepe Coin increases rapidly during viral trends, providing investors a chance to earn money quickly.
- The price of Pepe Coin is low, making it an affordable coin in the vast cryptocurrency market, allowing investors to invest small amounts.
Disadvantages
- The value of Pepe Coin will surge and drop rapidly, making it risky to invest.
- Pepe Coin does not have any real-world utility beyond being a fun meme.
- The success of Pepe Coin depends on users staying interested. The value of Pepe Coin drops if the interest fades.
Conclusion
Pepe Coin (PEPE) emerged as a unique player in the cryptocurrency landscape, leveraging the power of internet culture and community enthusiasm. Originating from the iconic Pepe the Frog meme, the project quickly gained traction through strategic social media engagement and a deflationary token model. While its future remains subject to the inherent volatility of meme coins, Pepe Coin’s journey highlights the potential for community-driven initiatives to carve out a significant space in the ever-evolving world of digital currencies. Its story serves as a reminder of the innovative, sometimes unconventional, forces shaping the future of finance and online culture.
