Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Pepe Coin, named after the popular internet meme character Pepe the Frog, is a cryptocurrency primarily designed for meme coin and internet culture enthusiasts. Built on the Ethereum blockchain, this token aims to capitalize on the mass appeal of meme coin trends, similar to Dogecoin and Shiba Inu. 

Despite its playful origins, PEPE has quickly become one of the most popular tokens globally, with a market cap of $6 billion in just one year. It is ranked the 22nd largest cryptocurrency on CoinMarketCap.

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating

What is Pepe Coin?‍

Pepe Coin ($PEPE) is a meme coin launched in April 2023 on the Ethereum blockchain that is based on the Pepe the Frog meme. Quickly gaining immense popularity, the token attracted widespread attention with its deflationary mechanism that burns a small percentage of tokens with each transaction. It also introduced a redistribution system, where a portion of each transaction was distributed to existing holders, incentivising long-term investment and active participation. 

With these unique features and a no-tax policy on transactions, Pepe amassed a market capitalisation of $5 billion shortly after its launch. However, in August 2023, the project faced significant challenges as a large number of tokens were unexpectedly transferred from the project's wallet to centralized exchanges, causing a dip in value and raising concerns within the community. 

It was later revealed that disgruntled developers, who were no longer part of the project, had moved the tokens under the pretext of "updating" the wallet, an act subsequently deemed theft. To reassure investors and stabilize the coin, the remaining team executed a significant token burn and brought on new advisors to guide the project forward. Despite this setback, the token has continued to progress. 

Pepe The Frog.

How Did PEPE Become So Popular?‍

Pepe's popularity stems from its unique blend of meme culture, technological innovation, and community momentum. As a meme coin built on the Ethereum blockchain, it leverages the viral appeal of the internet character Pepe the Frog, rapidly attracting a passionate following. Its deflationary mechanism and the redistribution system further incentivise engagement and long-term investment. 

The no-tax transaction policy also distinguishes it from competitors, offering ease of use. Despite challenges and volatility, Pepe's trajectory is going upward with its recent competition listed on Crypto.com, which offers users a chance to win UFC 303 tickets and a share pool of $50,000, surging its price by 20% in 24 hours. 

PEPE Tokenomics and Utility‍

Pepe Coin's tokenomics are designed to enhance liquidity, reward holders and ensure long-term sustainability. With a total supply of 420.69 trillion tokens, the majority (93.1%) is allocated to a liquidity pool to facilitate trading, while 6.9% is reserved in a multi-signature wallet for future exchange listings, bridges, and additional liquidity pools. 

The coin employs a deflationary mechanism where a small percentage of tokens are burnt with each transaction, gradually reducing supply and potentially increasing value. Additionally, a redistribution system allocates a portion of transaction fees to existing holders, incentivizing long-term holding and active community participation. 

PEPE Tokenomics

Who Created Pepe Coin?‍

The specific individuals behind Pepe Coin remain anonymous, adding an air of mystery to its origins. Inspired by Matt Furie's internet meme character Pepe the Frog, the creators capitalized on the character's massive online following to launch the coin in April 2023. While the founder's identities are shrouded in secrecy, the project's innovative features and vibrant community have driven its popularity and success in the meme coin market.

Closing Thoughts

In conclusion, Pepe Coin has swiftly captured the crypto community's attention with its clever blend of meme culture and innovative tokenomics. Built on the Ethereum blockchain, Pepe has created a compelling incentive for both short-term traders and long-term holders. Despite facing significant challenges, including developer controversies and market volatility, the project has shown resilience through strategic moves like token burns and the addition of new advisors. 

Author

Elena Boyaci is the proactive editor-in-chief of StacksOnChain, bringing her extensive journalism experience to the forefront. She spearheads a committed team, focusing on providing prompt and comprehensible updates on crypto and finance.

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