PEPE is a meme token that took the cryptocurrency market by storm when it was launched early last year. The project inspired by the early 2000s internet meme Pepe the Frog, aims to capitalize on the popularity of meme coins like Dogecoin and Shiba Inu and establish itself as one of the leading meme-based cryptocurrencies.
This article is a comprehensive guide to the token project where we will look into its underworkings, and the PEPE token itself, analyze its future price performance, and finally determine whether it is a worthy crypto project to invest in.
So, let’s get started.
What is the PEPE Token?
Pepe Coin (PEPE) is a deflationary meme cryptocurrency launched on the Ethereum blockchain. The token rapidly rose in popularity following its debut in April 2023.
PEPE is a homage to the legendary Internet meme ‘Pepe the Frog’. However, the project isn’t just a fun tribute to a popular meme, but a token with some unique features that have contributed to its impressive growth over the past year.
Despite its creators having stated that PEPE has no intrinsic value and investors should not expect any financial return, the token has captured the hearts and minds of the crypto community.
Let us take a look at some key features of the PEPE token.
Key Features of PEPE Token
Pepe Coin distinguishes itself from other meme coins through its distinctive features that include a deflationary mechanism, a retribution system, and a no-tax policy.
The project has implemented a token-burning mechanism where a small percentage of PEPE is burned with each transaction. This is done to maintain the scarcity of the PEPE coin.
A portion of each PEPE transaction is shared among existing token holders. This encourages users to participate and promote the token while they get incentivized for their contributions to the ecosystem.
PEPE token’s developers have instituted a no-tax policy. The token ensures users a cost-effective trading experience by not levying any transaction fee for buying or selling PEPE. This means that traders won’t incur any extra charges payable when conducting transactions.
PEPE has a total supply of 420 trillion tokens. Out of this, 93.1% of the tokens are allocated to the liquidity pool to ensure a stable trading environment. LP tokens are burnt from the supply every time a transaction is made and the contract is renounced, creating scarcity to help maintain its value.
The remaining 6.9% of the supply is reserved for PEPE listings on major centralized and decentralized exchanges to facilitate trading.
PEPE began trading on April 19, 2023, at around $0.0000002823. The token recorded its all-time high on May 5, when it was trading at $0.00000439. This happened to be the first day it was listed on Binance – the world’s largest cryptocurrency exchange.
Meanwhile, the token reached its lowest valuation on April 18, when it was priced at $0.000000055142, just a day before it began trading.
At the time of writing, PEPE is trading at $0.0000009427 – up 4.5% in the last 24 hours. PEPE coin has a market capitalization of $395.26 million. The token has had a 24-trading volume of $67.26 million.
How To Buy PEPE Coin?
Pepe Coin can be purchased on various centralized and decentralized exchanges, such as:
Optimists believe that PEPE has the potential to hit $1 per token sometime in the future, however, such a scenario is highly unlikely to occur. If each of the 420 trillion tokens were to reach that price, then the total market capitalization of PEPE would be $420 trillion, which would be ten times that of the entire US stock market.
Based on its earlier success and community size, the price of PEPE is forecasted to reach a high of $0.0000065 by the end of 2024. If PEPE can continue its current momentum, it could be priced at $0.00001 by the end of 2025.
For PEPE to maintain its credibility, it has to implement real value to the ecosystem as hype on its own won’t be enough. Provided that it can do so, we could see PEPE reach a potential high of $0.00002 by 2030.
PEPE coin is a unique entry into the meme token space. It leveraged a popular internet culture to capture the hearts of crypto enthusiasts and has instilled innovative tokenomics that aims to safeguard its value in the long term.
While the cryptocurrency has achieved significant growth and attention since its launch almost a year ago, its future remains uncertain. Since PEPE offers no real-life utility, there is not much the ecosystem has to offer apart from the community holding and transacting in the cryptocurrency for fun.
Therefore, I would suggest potential investors approach PEPE with caution and conduct thorough research before they invest their hard-earned money in the meme cryptocurrency.