What is Pepe cryptocurrency? Everything you need to know about this memecoin

What is crypto PEPE?

Create in April 2023 on Ethereum, the PEPE cryptocurrency is deeply anchored in the memecoin trenddigital assets inspired by internet meme culture.

At the heart of this project is Pepe the Frog, a comic book character created by artist Matt Furie in 2005 in his “Boy’s Club” series.

This frog quickly became a meme on platforms like Myspace and 4chan in 2008, appearing in multiple versions like “Sad Frog” or “Smug Frog”.

Concerning PEPE, the creators remain anonymous, a common characteristic in the world of memecoins. This ERC-20 token, without development plan or roadmapstands as a purely community project without pretension of becoming a serious cryptocurrency.

Upon its release, PEPE generated immediate enthusiasm, quickly reaching a market capitalization of more than $420 million and ranking among the top 100 cryptocurrencies in just a few weeks.

Thanks to the impact of social networks like Twitter and Telegram and capitalizing on the popularity of the Pepe the Frog meme, the PEPE crypto saw its growth accelerate during 2023. Surprisingly, the total capitalization of the PEPE crossed the billion dollar milestone in just 3 weeks after its launcha feat that took Dogecoin (DOGE), the most famous memecoin, nearly 4 years.

Despite this impressive valuation, the project also experienced dark times. For example, in August 2023, the PEPE community was alarmed following the unexplained transfer of 16 trillion tokens (equivalent to approximately $15 million) from the project’s multi-signature wallet to several centralized exchanges.

This event shook the community and caused a notable drop in the value of the token, generating a wave of concern among PEPE holders.

Faced with the confusion, a message on the project’s official X account attempted to clarify the situation. The message indicated that certain developers who left the project were behind these movements of fundsunder the guise of an alleged wallet update.

However, what appeared to be a simple transaction turned out to be an embezzlement as the developers in question sold the stolen PEPE tokens. Following this mishap, the PEPE price continued to fall for several months.

However, a renewal began in October 2023 with a message on the official PEPE X account. Indeed, this post revealed the arrival of a new team determined to revitalize cryptocurrency. This communication was also accompanied by the announcement of a burn of 6.9 trillion PEPE, equivalent to some 6 million dollars.

What are the roles and tokenomics of the PEPE token?

Like most memecoins, the PEPE token has no real use other than bringing together a community around the common project.

However, PEPE stands out in the world of memecoins with its unique characteristics that contribute to its long-term success.

In fact, the PEPE token differentiates itself from other memecoins thanks to:

• A deflationary mechanism : with each PEPE transaction, a small percentage of tokens is burned, thus gradually reducing the total supply of PEPE in circulation;
• A redistribution system : a part of each transaction is redistributed to PEPE holders. This principle encourages the conservation of the token over the long term to accumulate PEPE passively;
• A no-cost policy : this allows users to exchange and carry out transactions with PEPE without additional costs, thus promoting the fluidity of exchanges.

Regarding tokenomics, PEPE was launched with a maximum supply of 420.69 trillion tokens, of which 93.1% were initially available in a liquidity pool, while the remaining 6.9% were held in a multi-signature wallet for future uses.

If you want to buy PEPE, know that it is a memecoin and therefore this cryptocurrency is not like the others. Its creators are not known, there is no roadmap, nothing is developed around PEPE except its community. Thus, only the community aspect plays a role in the popularity of the PEPE token.

However, if you still wish to acquire PEPE, using a platform like Bitpanda, registered with the AMF, is strongly recommended.

Bitpanda: the ideal platform for diversifying your investments

Steps to buy PEPE on Bitpanda:

1. Create an account on Bitpanda (affiliate link) and confirm your KYC;
2. Deposit euros on Bitpanda with a payment by credit card or transfer;
3. As soon as your euros are on Bitpanda, click on “Trade” then on the “Buy” button;
4. Search for the PEPE token then enter the amount of your purchase before clicking on “Go to summary”;
5. If everything meets your expectations, click on the button “ Buy now » to buy PEPE crypto;
6. Congratulations ! You have purchased PEPE!

👉 Find our review and complete guide on Bitpanda

Who created the PEPE cryptocurrency?

The identity of the creators of the Pepe crypto is unknown. Nevertheless, the project draws its essence from the desire to celebrate Matt Furie, the creator of Pepe the Frog and to bring a touch of relaxation to the crypto market.

Pepe logo, stylized by Cryptoast

Our opinion on the PEPE token

In summary, PEPE perfectly illustrates the rise of memecoinsinspired by the famous Pepe the Frog meme which marked the years 2000 – 2010.

Despite tumultuous times having had a significant impact on the price of PEPE, the introduction of a new team in October 2023 has instilled renewed hope within the community.

However, it is important to remember the volatile and uncertain nature of memecoins whose value is not based on tangible fundamentals, a roadmap or concrete projects.

So while PEPE could benefit from the general momentum of the cryptocurrency market to gain popularity and value, investing in memecoins carries significant risks.

What is your opinion on Pepe crypto?

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AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital.

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I immersed myself in the world of blockchain in 2016, following a captivating discussion with a friend about Bitcoin. My journey since then has been guided by a constant quest for technical innovation and the development of revolutionary solutions that redefine our interaction with technology.

Ambroise Lalloz

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