Pepe: Everything to Know
By Beluga Research September 1, 2023
- Pepe the Frog is a meme coin inspired by the popular internet social media meme
- It runs on the Ethereum blockchain and employs the ERC-20 token standard
- Pepe offers automatic liquidity generation, reflection rewards and buyback functions
- Pepe makes an appeal to the cryptocurrency community by instituting a free transaction fee policy
Pepe the Frog is a meme coin inspired by the popular internet meme. Pepe is an Ethereum-based deflationary meme coin. The cryptocurrency was created as a tribute to Matt Furie's Pepe the Frog internet meme. The project intends to profit from the popularity of meme coins such as Shiba Inu and Dogecoin. It strives to establish itself as one of the top meme-based cryptocurrencies.
Pepe Coin presents a unique offering within the meme coin market by building upon the legacy of Pepe the Frog. The project's commitment to honouring this character sets it apart from other cryptocurrencies and increases its appeal within the cryptocurrency community.
A Brief History
Pepe's history dates back to 2016 when its development team was founded. Its members originally intended to launch an NFT platform called Memetic. Its attention instead shifted to the now-ubiquitous coin, which funds the team's ongoing technological initiatives. Pepe was launched in April 2023. It was created by an unknown developer or group of developers. The project quickly gained traction within the cryptocurrency community due to its unique approach to meme coins.
Pepe has quickly become one of the top fifty traded cryptocurrencies since its public launch in April 2023. The price of Pepe Coin initially rose sharply, reaching an all-time high of $0.00000431 in May 2023. The coin's market capitalization also surged, surpassing $1 billion. However, the price of Pepe Coin began to decline in June 2023.
What is Pepe?
Pepe is a meme coin that was first released in April 2023. It's inspired by the Pepe the Frog meme. It is a popular internet meme used in various contexts, including humor, activism and also hate speech. Pepe appeals to the cryptocurrency community by implementing a no-fee policy, a redistributive system that rewards long-term stakes and a burning mechanism to keep the Pepe Coin scarce.
The explosive surge of Pepe caused its market cap to reach a high of $1.6 billion at one point from late April to May 2023. This minted millionaires from early holders and attracted a strong community of like-minded followers. Pepe Coin's roadmap is neatly divided into three phases. The first phase focuses on increasing visibility through CoinMarketCap listings and trending on Twitter. The roadmap's second phase focuses on getting listed on centralized crypto exchanges.
The third and final phase of the roadmap is aimed at achieving top-tier exchange listings while planning a "meme takeover". The Pepe Coin also has an intriguing redistribution system to encourage potential investors to keep tokens for extended periods. This strategy is designed to increase the token's stability and chances of long-term success.
To get started, follow the following steps:
- Download an Ethereum wallet. To start with Pepe, users will need an Ethereum wallet that supports ERC-20 tokens. Some popular wallets include MyEtherWallet (MEW), MetaMask and Trust Wallet.
- Purchase ETH from an exchange. Users will need ether (ETH) to purchase Pepe Coin. Users can buy ETH from an exchange that supports it such as Binance or Coinbase.
- Purchase PEPE. Once users have transferred ETH into a wallet, they can use a personal wallet address to purchase PEPE from an exchange that supports it.
- Store the PEPE. Once users have purchased PEPE tokens, users can store them in a wallet or stake them for rewards.
- No-fee policy. Pepe has a no-fee policy, meaning there are no transaction fees on the coin. This makes it an attractive option for those who want to avoid high transaction fees. The absence of fees can also make it easier for people to use Pepe for everyday transactions. The no-fee policy helps Pepe stand out from other cryptocurrencies that charge transaction fees and taxes.
- Redistributive system. Pepe has a redistributive system that rewards long-term stakes. This incentivizes users to hold the token for extended periods and promotes holder incentives. The redistributive system is designed to distribute a portion of the transaction fees to users who own the token for a certain period. This means that the longer the user has Pepe, the more rewards the user can earn.
- Burning mechanism. Pepe has a burning mechanism to maintain the scarcity of the Pepe coin. This is done by burning a portion of the coins in circulation, which reduces the total supply and increases the value of each coin. By reducing the number of coins in circulation, the burning mechanism helps to maintain the scarcity of the Pepe Coin.
- Unique branding strategy. Pepe has a unique branding strategy that is centered around the popular internet meme Pepe the Frog. The coin's developers have leveraged the meme's popularity to create a strong brand identity for the coin. This has helped to attract new users and investors.
- Strong market performance. Pepe has shown strong market performance since its launch in April 2023. It has been listed on several cryptocurrency exchanges and has had a $1 billion market cap.
- Decentralized nature. Pepe is a cryptocurrency that is decentralized and runs on the Ethereum blockchain. This means it is not controlled by any central authority, making it more secure and transparent.
- High liquidity. Pepe has high liquidity, meaning it can be easily bought and sold on cryptocurrency exchanges. This makes it a more attractive option for traders and investors.
- Popularity. Pepe is one of the top meme-based cryptocurrencies. It has attracted a strong community of like-minded followers. It has induced what some may dub a "meme coin season," causing other meme coins to go on spectacular pumps and just as astounding dumps.
- Growth potential. Pepe can grow significantly in the future. It has a strong community and a dedicated team of developers. If the project is successful, it could become one of the leading meme coins in the market.
- Volatility. Like most cryptocurrencies, Pepe is highly volatile. Its value can fluctuate rapidly in response to market conditions and investor sentiment. This makes it a risky investment for those who are not comfortable with high levels of risk.
- Lack of regulation. Cryptocurrencies like Pepe are not regulated by any central authority. This means there is no protection for investors if something goes wrong. Investors should be aware of the risks involved before investing in any cryptocurrency.
- Risky investment. Investing in cryptocurrencies like Pepe can be difficult due to their volatility and lack of regulation. It's essential to do research before investing in any cryptocurrency.
- Limited use cases. Currently, there are limited use cases for Pepe. It's primarily used as a speculative investment rather than a transaction currency. This could limit its long-term potential.
- Controversial history. Pepe's controversial history may make some investors hesitant to invest in Pepe. White supremacists and other hate groups have used the meme, and some people may not want to support a project associated with these groups.