What is PepeCoin (PEPE)?
PepeCoin is a crypto token and a memecoin, released in April 2023. It uses the likeness of the ages-old meme, Pepe the Frog. In spite of its mixed reputation and use on questionable imageboards, this character is still very commonly found online in various iterations. What’s interesting is the way this currency is managed.
Memecoins Briefly Explained
PepeCoin is a memecoin through and through. The big difference that sets it apart from many other joke currencies is its relative success. In this, PepeCoin joined the ranks of Shiba Inu and Dogecoin—the other two nonsensical currencies that attained success through satire and community support.
Like other memecoins, the utility of PepeCoin is limited. Although the creators have long promoted their platform that’s supposed to be a meme-inspired NFT minting station, it’s not really the primary motive behind the support of PEPE. It was imagined from the start as a satirical, speculative coin.
So, how is PepeCoin doing? Is it worth the attention? How did it even come to be? Let’s explore further.
History of PEPE
PEPE was first put into motion back in 2016, when the first foundation of this platform was created. It was initially an NFT platform inspired by Pepe and similar memes, but this project largely went nowhere even now. It was in development for 7 years, when it eventually led to the creation of this token.
The platform in its entirety is known as Memetic. Over the years, it put forth several ideas for meme-centric crypto projects, but none succeeded. They did, however, create a website and infrastructure that governs PEPE. However, memecoins aren’t really expected to create meaningful startups, and PepeCoin is no different.
PEPE was launched on April 17, 2023. Two months later, it reached its all-time peak (for now) of $0.000003, which is huge for a memecoin. This surge was the consequence of a spontaneous bout of interest from the community. It attracted many loyal participants, although the price naturally shrank later.
PEPE is currently traded at $0.00001.
PEPE was released on Ethereum, making it an ERC20 token compatible with a multitude of DeFi solutions and decentralized apps hosted on this blockchain. It can potentially be used as a means of payment, to fund smart contracts, and to create projects on this network. It might not be the best candidate for it, but you could still do that.
It also means that apps built on Ethereum could support PEPE as legal tender—for purchases, inner features, and more. There are few such apps, but the coin is popular enough, which means this number keeps growing. There are plenty of crypto exchanges that support the coin, as well.
PEPE is freely traded on a number of exchanges, including Binance, CoinEx, Kraken, KuCoin, OKX, and others. It can further be exchanged for Bitcoin, Ethereum, and several other major cryptocurrencies on the platform’s official exchange, PepeDEX. It’s a decentralized exchange with P2P functionality.
Once you have PEPE, you can go ahead and stake it on the project’s official website to receive some profit.
PEPE is a moderately successful memecoin, which means it accumulated a certain value and fame by basically being popularized on Twitter via a dedicated account. Like other memecoins, it’s likely to stay on its current level because nothing substantial could drive its value up. It could grow if the coin spontaneously entered the spotlight, but these things can’t be predicted.