Meme coin is no longer strange to cryptocurrency users. If Dogecoin and Shiba Inu were two meme coins that made the cryptocurrency market exciting in the past, then in 2023, a hot meme project, Pepe coin, has been dominating the market for a long time. Currently, Pepe coin has risen to the 3rd position in the Crypto market. Currently, Pepe Coin is a meme coin that has been showing signs of a strong comeback recently. So what is special about Pepe Coins, let’s find out with Unich Analyst in this article.

What is a Pepe coin

Pepe coin (PEPE) is a Meme coin issued on the Ethereum network, inspired by the green frog. A famous meme on social networks. PEPE satirizes the “dog” meme coins such as SHIB, DOGE, etc. and introduces itself as: “…dogs have had their days, it’s time for PEPE to take over”. This statement shows the determination to end the dominance of the dog meme coins that were launched before.

The history of Pepe coins

Pepe was born and developed in 2023, inspired by the work Pepe the Frog. This Pepe the Frog was created by Matt Furie in 2005 and became extremely popular on social networking platforms, becoming a typical symbol of Internet culture. The popularity of Pepe the Frog has been used in many different contexts from everyday life to political stories. The popularity of this meme has led some to believe that it has great potential to become a cultural icon or a meme coin for entertainment purposes.

The Pepe the Frog meme, which became popular on social media, became the basis for the Pepe coin project. The anonymous development team used this inspiration to create the meme coin PEPE, which is built on the Ethereum Blockchain.

However, on its website, the project team stated that Pepe coins have no connection to Matt Furie or the work of Pepe the Frog. Simply put, this Token is just a huge homage to a meme that each of us recognizes and loves. PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no roadmap or official team. PEPE is purely speculative and entertaining.

The goal of Pepe coin is to celebrate the spirit of the online community and focus on the power of Internet culture. This project has successfully combined the Pepe the Frog meme with cryptocurrency, bringing a unique and fun digital currency to the cryptocurrency world. In addition, Pepe coin has also become a decentralized cryptocurrency, not controlled by any government or organization. 

Highlights of Pepe coins

With the goal of competing and “dethroning” the dog meme coin, PEPE possesses outstanding features such as:

• Inspiration from a famous meme: PEPE is inspired by a famous meme on social networking platforms, which is the popular green frog that everyone knows. The image made from this green frog has appeared on every social networking site. It is this familiarity that helps PEPE quickly win the hearts of the investor community.
• High decentralization: PEPE is highly decentralized and no one controls the circulating supply, even PEPE developers do not have control over this smart contract.
• Strong community: The community is PEPE’s biggest advantage over other projects. PEPE has a large community on social media platforms, from Facebook, and Twitter, to Telegram. At one point, PEPE was one of the hottest keywords on Twitter, which users discussed enthusiastically. The project’s Twitter (X) has a “huge” number of followers with about 669.6K followers to date, each post receives a very high level of interaction.

Learn about Pepe tokens

What is a Pepe token?

Pepe token is a representative token of the project and does not have any utility or function. It is just a token representing a very humorous image that is popular in the market today. Therefore, Pepe is only considered by everyone as a speculative token following the trend and should not be considered as a long-term investment because of its extremely strong volatility.

Pepe token information

• Token Name: Pepe
• Symbol: PEPE
• Blockchain: Ethereum
• Contract: 0x6982508145454ce325ddbe47a25d4ec3d2311933
• Total supply: 420,690,000,000,000 PEPE
• Total circulating supply: 420,690,000,000,000 PEPE

Token allocation ratio

PEPE coin is allocated according to the following ratio:

• Liquidity Pool is 391,662,390,000,000 PEPE (93.1%)
• CEX Listing is 29,027,610,000,000 PEPE (6.9%)

Of which, 93.1% will be sent to the Liquidity Pool, while 6.9% will be kept in a multi-signature wallet, this amount is only used as tokens for centralized transaction lists, bridges, and future Liquidity Pools. This wallet can be easily tracked under the ENS name “pepecexwallet.eth”.

Pepe token price history

Despite only launching in 2023, PEPE has successfully entered the top 3 meme coins with the highest market capitalization (after Dogecoin and Shiba Inu), an extremely impressive achievement. Here is the price history of Pepe coin:

• April 2023: Launched with a supply of 420.69 trillion tokens.
• May 2023: Price reached a peak at that time of $0.0000045 with a market capitalization of $1.48 billion.
• September 2023: Price dropped to a low of $0.00000059 with a market cap of $280 million.
• May 2024: Continues to break ATH and reaches a high of $0.000017 with a market cap of $7.1 billion.
• Current August 2024: The price is $0.0000075 with a market cap of $3.19 billion.

What do Pepe tokens do?

Pepe tokens do not have any utility and any project with practical applications is not represented by Pepe Token. It is simply a token that represents a very humorous image that is popular in the market today.

Therefore, Pepe is only considered by everyone as a speculative token following the trend and should not be considered as a long-term investment because of its extremely strong volatility.

Some news surrounding Pepe coin

• Pepe burns $5.5 million: In October 2023, Pepe saw a burn of 6.9 trillion tokens. The move, which reduced the total supply, alleviated concerns about the team’s large token holdings, currently worth $3.72 million. New advisors were then brought in to strategize how to use the remaining tokens for partnerships and marketing. This follows a recent incident in which several developers were accused of making unauthorized transfers of Pepe tokens. 
• Pepe faces FUD: Pepe Coin has been embroiled in controversy, with claims that it is a scam emerging on social media. An anonymous developer in the team accused three members of stealing 16 trillion tokens, about 60% of the total supply, from Pepe’s multi-signature wallet and selling them on exchanges, citing internal conflicts and greed as the cause of the problem.
• Pepe Coin rejects Pepe deployer wallet transactions linked to former team members: The announcement revealed the discovery of activity in the Pepe deployer wallet, disassociating the team from these transactions. It was revealed that former team members involved in the misappropriation of funds from the Pepe treasury initiated these transactions.

It can be seen that this information has somewhat affected the value of Pepe coin, but overall Pepe is still a coin with a lot of potential to grow. And Pepe is likely to become an investment project when the trust of the community and the hype of investors are the most important factors to help boost the value of this coin.

Project development potential

Pepe has some outstanding potential and is ready to compete fairly with other meme coins such as:

• Meme Pepe the Frog is a famous and popular meme coin on social networking sites, the popularity of this meme coin is an important factor contributing to the success of the project.
• PEPE owns an active and trustworthy user community. For meme coins, the community is an indispensable part that stimulates the growth of the project’s value.
• PEPE has some potential features such as Pepe merch, Pepe Academy, and Pepe Tools.

However, investors also need to note that PEPE, like other meme coins, always has many risks and is easily manipulated by sharks. Investing in PEPE should have specific plans and strategies, avoiding FOMO in a volatile market.

Pepe coin roadmap

PEPE has mentioned a clear development roadmap on the project website as follows:

• Phase 1: Launch and list on Coingecko and CoinMarketCap. Expect more than 1,000 holders and make PEPE a trend on Twitter.
• Phase 2: List on CEX exchanges and expect more than 10,000 holders. Build the PEPE coin community.
• Phase 3: Develop more features such as Pepe merch, Pepe Academy, and Pepe Tools.

Where to buy Pepe coins

Users who want to own Pepe coin can buy tokens through:

• On centralized exchanges (CEX): Binance, OKX, Houbi, MEXC, etc.
• On decentralized exchanges (DEX): Uniswap, Sushiswap, 1inchswap, etc.

Review and evaluation

The cryptocurrency market is witnessing a strong recovery, especially in the meme and AI coins segment, creating ideal conditions for the price explosion of Pepe Coin. This comeback not only brings hope but also opens up opportunities for PEPE’s strong price increase.

With a market capitalization of 3.1 billion USD, PEPE is currently at the top of meme coins. Despite experiencing price fluctuations, PEPE has recorded an impressive price increase of up to 181% in just one month, affirming optimism about the next bullish trend. Here is the Pepe coin price chart:

Technical indicators are supporting the bullish outlook for PEPE. This signals that the PEPE price may soon witness a major jump. In addition, after Bitcoin Halving will be a strong catalyst for the new cycle of PEPE. History has shown that Bitcoin miner reward halving events often stimulate market activity and increase prices across the board. If PEPE can capitalize on this positive sentiment and surpass its previous high, its outlook will be even brighter, especially if Bitcoin starts a new bull cycle after Halving.

Summary

The Pepe coin is a highly entertaining cryptocurrency, inspired by the famous meme “Pepe the Frog”. With its rapid popularity and large community, Pepe coin has quickly achieved impressive achievements in the meme coin market. PEPE, like other meme coins, has long become an indispensable part of the large cryptocurrency ecosystem. They maintain their existence even when cryptocurrencies are growing strongly. 

This market always has unpredictable fluctuations. Not only for meme coins but for any project that investors intend to participate in, the approach should be done cautiously and accompanied by careful research. So investors need to be careful and understand the risks when investing in cryptocurrencies like PEPE. Above is an overview of the Pepe Coin project by Unich Analysis, thank you for reading.