Pepe: A Comprehensive Guide to What It Is and How It Works (2024)

Memecoins have had an undeniable impact on the crypto world. One standout meme coin that has gained considerable traction in 2024 is PEPE crypto, inspired by the internet sensation Pepe the Frog. This guide will delve into the PEPE crypto, its significance and mechanics. Here’s what you need to know.

What is PEPE?

PEPE, alternatively referred to as $PEPE, is a meme cryptocurrency. Memecoins are known best for their whimsical origins and the strong community surrounding them. Notably, memecoins have no inherent utility behind them. Hence, they rely on their cultural and viral appeal to attract investors and users.

To understand PEPE and its significance, we must first revisit the meme’s origins. Cartoonist Matt Furie introduced Pepe the Frog in his 2005 comic “Boys Club,” and since its debut, the character has evolved into an internet meme. While the PEPE crypto has no formal relations with Furie or the original Pepe the Frog, the memecoin used Pepe imagery to build a committed community quickly.

PEPE launched in mid-April with an attractively low price and an abundant supply of 420 trillion, referencing cannabis culture’s 4/20, added to the allure. For many, PEPE represented a refreshing departure from incessant updates on crypto regulations and market shifts during the cold grip of the bear market.

The enthusiastic community backing has prompted lively debates about bull markets, price surges, and trading volumes.

What are the unique features of PEPE?

Similarly to other memecoins, a robust crypto community sustains PEPE crypto. This plays a pivotal role in determining its success. PEPE’s dedicated membership comprises over 100,000 token holders.

• No tax policy: Distinct from many memecoins, PEPE uniquely implements a no-tax policy. This policy eliminates transaction fees on buying or selling the token, ensuring a cost-effective experience for traders and increasing PEPE’s appeal.
• Burning mechanism: A small percentage of tokens burn with each transaction, incrementally reducing the total supply. This intentional decrease can boost the crypto’s value.

How does PEPE operate?

PEPE is an ERC-20 token with a deflationary model introduced on the Ethereum blockchain. It operates under the security of the proof-of-stake (PoS) consensus mechanism, with decentralized validators staking 32 ETH to facilitate transactions and maintain the network’s integrity.

Tokenomics

The project’s website provides a comprehensive overview of PEPE’s tokenomics, offering insights into its supply and distribution. Notably, PEPE has a circulating supply of 417,481.33 billion and a max supply of420,690 billion.

A significant portion, precisely 93.1% of these tokens, has been allocated to the liquidity pool, with LP tokens being permanently removed from circulation and the contract renounced.

The remaining 6.9% of the supply is securely held within a multi-signature wallet, designated exclusively for future use in centralized exchange listings, bridges, and liquidity pools. This wallet is easily traceable through the ENS name “pepecexwallet.eth.”

Additionally, PEPE implements a redistributive system wherein a fraction of each transaction is distributed to current token holders. Moreover, this system not only encourages user engagement but also fosters sustained investments, with rewards geared towards long-term stakers.

What’s the best PEPE wallet?

Your PEPE wallet should be a secure central hub for managing and protecting your crypto. Coinbase Wallet, Zengo Wallet, and OKX Wallet are all solid options for safely and securely storing your PEPE. If you are looking for a hardware option, Ledger, Trezor, and SafePal are all leading options.

PEPE’s roadmap

Although the team playfully claims to have no concrete plans, they have actually established a set of expectations outlined within three distinct phases of their roadmap.

PEPE’s roadmap outlines its journey in three phases. The first phase has already been accomplished, with the coin stealth-dropped, creating a buzz on social media platforms, and listing on significant exchanges. Moreover, PEPE also surpassed its initial target of one thousand holders.

Phase two, known as “Vibe and HODL,” is currently underway, with several objectives already met. These include forming community partnerships, gaining listings on centralized exchanges, initiating a newsletter, and establishing a private Discord server exclusively for token holders.

The third phase of the roadmap aims for even greater success. It involves becoming listed on tier 1 exchange listings, launching Pepe tools and Pepe Academy, and focusing on surpassing bitcoin’s market dominance. The ultimate goal is to gain one hundred thousand users.

What is the future of PEPE?

PEPE’s journey exemplifies the dynamic and unpredictable nature of the crypto space. For early buyers, PEPE crypto has been extremely profitable. But much like other memecoins, the future of the crypto is uncertain. If you want to buy PEPE, ensure you understand the risks involved. Always have a comprehensive strategy in place, and never invest more than you can afford to lose.

Frequently asked questions