Meme coins have recently become more popular due to their exploits in the crypto space. They have proven to challenge expert opinions and investors’ sentiments about the crypto market. Their purpose of entertainment is entirely achieved through their outplay upon launching.
One instance is how Pepe Coin (PEPE) reached a market capitalization of over $1 billion within weeks of launching. PEPE is a new meme coin launched in April 2023, and its launch is another significant proof of how crypto can turn you into a millionaire in days.
The more the crypto ecosystem keeps evolving, meme coins like PEPE, Dogecoin (DOGE), and Anarchy (ANA) keep earning investors' attention and bringing massive active users to their community. This is because of how they defy some pre-existing crypto market standards.
In this guide, we covered everything you need to know about PEPE before you invest.
What is PEPE Coin (PEPE)? | Definition of Pepe Coin (PEPE)
Pepe Coin is a popular meme coin introduced into the crypto space in April 2023. Its popularity is attributed to featuring the popular green meme character Pepe the Frog. PEPE is leveraging the advantages of fusing blockchain technology and entertainment. PEPE is fueled by the global interest in memes and how they can be integrated into the crypto system.
Since its launch, PEPE has gained more popularity than the pioneering meme coin, Dogecoin. This is because of the exploits it made by reaching and surpassing $1 billion market capitalization after some days of launching. This feat took DOGE about four years to achieve.
Despite its high volatility, the number of token holders keeps increasing. Although the team behind PEPE, via its official website, mentioned that the token is purely for entertainment, it has no intrinsic value. As a result, investors should not expect any returns on investing in PEPE.
But the market reality has proven otherwise. The number of investors joining the PEPE community keeps increasing. Likewise, it is listed on major crypto exchanges such as Binance, Bybit and Gemini.
How Does Pepe Coin (PEPE) Work?
Out of the 420,690,000,000 $PEPE maximum supply, the liquidity pool holds 93.1% of the token, and the other 6.9% are sent to a multi-signature for future use. Pepe Coin has a deflationary mechanism that ensures that a certain percentage of the tokens are burnt completely when transactions occur. This is to establish scarcity and cause an increase in token value over time.
Likewise, PEPE has a redistribution system that ensures that some portion of each transaction is distributed to token holders. This is to enhance user engagement leading to long-term investments.
History of PEPE
No one has the exact knowledge of how PEPE came into existence. But one thing is sure, PEPE didn’t leverage common token distribution methods such as airdrops, initial coin offerings (ICO), or a presale. Instead, the project leveraged the popularity of PEPE the Frog meme character to gain attention from potential investors.
However, it is noteworthy to mention that Pepe Coin has no affiliation with the main creator of Pepe the Frog meme. Its creators’ identity is mysteriously unknown. But crypto market enthusiasts understand that it was launched in April 2023.
Despite successfully gaining attention and consequentially, a large following, no significant information about its creators is available. PEPE entered the crypto market and took the market by surprise.
Its active community participation saw PEPE market capitalization exceeding $1 billion in less than 20 days. This superb entry made PEPE surge to over 10,000% in about two weeks of launching.
Where to Buy PEPE Coin
In the early days of launching Pepe coin, it experienced an explosive increase in price that brought massive profits to token holders. This has sparked more interest amongst crypto investors and enthusiasts in leveraging PEPE and making profits.
If you want to invest in PEPE, you can buy PEPE from notable crypto exchanges such as KuCoin and Huobi Global. It is listed on Binance too. This makes it relatively available globally.
Should You Invest in Pepe coin? | What Is Next for PEPE?
Looking at PEPE’s performance since its launch, you would agree that it has made explosive profits for token holders in its first few weeks. While this might look like bait for more users to join, investors are curious about what will happen to PEPE in the future.
PEPE has surpassed criticism and shown what the impossible looks like in the past two months. Some investors were lucky to profit from it, while others want to know what will happen next. Despite the bearish look of things within the crypto market, PEPE may well undergo another bullish run.
The increasing number of token holders, high daily trading volume, and more members joining the ecosystem make experts believe that PEPE might still make exploits. However, you need to consider that PEPE has no intrinsic value. Thus, you should be careful and do extensive research before you invest in PEPE.
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This article is intended for educational purposes and is not financial advice.
