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What is Pepe Coin? | Blockchain News

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Overview

Pepe Coin (PEPE) is a deflationary meme coin launched on the Ethereum blockchain. It was created as a tribute to the Pepe the Frog internet meme, which gained popularity in the early 2000s. The project aims to capitalize on the popularity of meme coins like shiba inus and Dogecoin, striving to establish itself as one of the top meme-based cryptocurrencies.

Key Features

No-Tax Policy: PEPE appeals to the cryptocurrency community by instituting a no-tax policy. PEPE ensures a cost-effective trading experience by not levying any transaction fees for buying or selling the token. This means that traders won’t incur any extra charges payable to the project when conducting transactions.

Redistributive System: A fraction of each transaction is allocated to current token holders, fostering user participation and promoting sustained investments. It rewards long-term stakers.

Burning Mechanism: A burning mechanism is implemented to maintain the scarcity of the PEPE coin.

Three-Stage Roadmap: Phase 1: Embrace the Meme; Phase 2: Cultivate the Vibe and Encourage HODLing; Stage 3: Achieve Meme Takeover.

Key Basic Data and Price History

Total Token Supply: 420,690,000,000,000 PEPE tokens.

Token Distribution: 93.1% of the tokens were allocated to the liquidity pool to ensure stable trading, LP (Liquidity Provider) tokens were burnt to create scarcity, and the contract is renounced, signifying a commitment to the project’s stability. The remaining 6.9% is reserved for CEX (Centralized Exchange) Listings to facilitate trading on major platforms.

Launch: Pepe Coin was quietly introduced in mid-April 2023.

Initial Price: It began trading at around $0.0000002823 on April 19, 2023.

All-Time High: The coin reached an all-time high of $0.00000439 on May 05, 2023, the first day it was traded on Binance.

All-Time Low: The lowest price was $0.000000055142, recorded on April 18, 2023.

Market Cap High: From late April to May 2023, the market cap soared to a high of around $1.6 billion, reflecting significant interest in the coin.

How to Buy Pepe Coin

If you’re wondering where to buy Pepe Coin, there are various channels available.

Centralized Exchanges: PEPE tokens can be traded on centralized crypto exchanges like Binance, Kucoin, and Kraken. These platforms offer a user-friendly way to purchase Pepe Coin.

Decentralized Exchanges: You can also buy Pepe Coin via Uniswap, a popular decentralized exchange. This option provides a more decentralized trading experience.

Crypto Wallet: To trade $PEPE, you’ll need a crypto wallet. For mobile Users, you need to first download MetaMask or another wallet of your choice from the App Store or Google Play Store for free. For desktop Users, download the Google Chrome extension for MetaMask or another wallet by visiting the respective website. Ensure you have ETH (Ethereum) in your wallet to switch to $PEPE. If you don’t have any ETH, you can purchase it directly on MetaMask, transfer it from another wallet, or buy it on another exchange and send it to your wallet.

Comparison with Dogecoin

Despite its initial success, Pepe Coin has yet to come close to dethroning or rivaling Dogecoin in any meaningful way. Replicating the success of Dogecoin is considered highly unlikely for Pepe or any new meme coin.

Future Price Predictions

Some may wonder if the Pepe Coin price will ever reach $1, or if it’s even possible for it to reach that milestone. To understand this, let’s consider the numbers:

Total Token Supply: Pepe Coin’s total token supply is 420,690,000,000,000. If each token were to reach $1, the total market capitalization would be $420.69 trillion.

Comparison with US Stock Market: As of June 30th, 2023, the total market capitalization of the US stock market is $46.2 trillion.

Given these figures, it becomes clear that Pepe Coin reaching a price of $1 per token would result in a market capitalization nearly ten times the entire US stock market. Therefore, it is safe to conclude that, in any realistic scenario, it is impossible for Pepe Coin to reach a price of $1.

Conclusion

Pepe Coin represents a unique entry in the meme coin space, leveraging popular internet culture and innovative tokenomics. While it has seen significant growth and attention, its future trajectory remains uncertain, and potential investors should approach it with caution and conduct thorough independent research.

Image source: Shutterstock

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