Don't let the term "memecoins'' mislead you. Although the word may seem not serious, several memecoins are so big they got into top 100 cryptos by market cap. Dogecoin, a Bitcoin clone without a dedicated dev team, is the most popular memecoin. In the 2020s it became one of the ten biggest cryptocurrencies.
Success of Dogecoin inspired a new wave of memecoins that flooded the crypto market. They tried to recreate the community-centered jolly appeal of Dogecoin and tried to make their product more elaborate and useful. One of the most successful memecoins of the first quarter of 2024 is $PEPE.
This article reviews Pepe Coin, outlines where and how it can be bought, is it a good investment, and answers other essential questions about this cryptocurrency.
Contents
What is Pepe Coin?
$PEPE is an Ethereum-based deflationary cryptocurrency launched in April of 2023. The coin's name and logo derives from one of the most recognizable characters of the meme world, Pepe the frog, created by an artist Matt Furie in 2005 for a webcomic Boy's Club.
The homepage of the PEPE coin website contains critics of the countless Inu coins. According to the text, Pepe is here to make memecoins great again. The most popular meme should reign as a king of memes. Similar to Dogecoin, Pepe is braggish concerning its lack of somewhat spectacular use cases of the project. This stance is vividly depicted in a roadmap section of the website that doesn’t contain anything on top of jokes. The project doesn't offer anything on top of being a means of payment. As the website puts it, the token is fueled only by the memetic power. Additionally, the website contains an announcement that the token doesn’t promise a financial return and serves only for entertainment purposes. Just like Dogecoin, it has no formal team. This self-aware bold style, however, seems to attract people considering how high the Pepe coin rose in 2024.
However, on top of the Pepe meme's appeal (not without a bit of controversy though) the coin offers some features that reward the community of the $PEPE coin supporters. The main feature is that the Pepe coin sticks with a zero-tax policy. LP tokens are burnt and the contract ownership is renounced. The currency is set to be deflationary. Its total supply is capped at 420,690,000,000,000 units. $PEPE is a ERC20 token, using a Proof-of-Stake consensus mechanism. The stake size required to participate in the governing and securing the network equals 32 ETH.
Market Performance
As of March 2024, the Pepe coin's price is around $$0.0000073. The market cap exceeds the $3 billion mark, making the coin the 42nd biggest crypto in terms of capitalization. Pepe is available on many popular CEXs and DEXs, including Binance, Kraken, Gate.io, KuCoin, OKX, MEXC, HTX, Bitget, Huobi, Bybit, Crypto.com, Gemini, DigiFinex, Uniswap, and many others. In other words, Pepe coin is a highly available token that can be traded on most exchanges with highest liquidity.
The first huge surge in the price and market cap of the Pepe coin took place shortly after the launch in the spring of 2023. The coin's market cap exceeded $1.6 billion at that point, turning early investors into millionaires. However, the spike wasn't that long and ended in several days. Despite this, the price was never the same as on the start. It reached a strong support line at around $0.0000009.
The next huge spike coincided with the overall crypto market bull run in February 2024. The PEPE price quickly went from $0.000001 to $0.00001. In just three weeks it grew ten times. A small correction reflecting the overall market trend followed.
Where and How to Buy PEPE?
One of the ways to get a Pepe coin is presented on the project's website. It provides a short description of the process of buying the token on Uniswap. It says that you should download and install a MetaMask wallet or a Chrome extension, "get some ETH" (buy Ether coins on the market of choice, for instance, right in MetaMask), connect the wallet to Uniswap, and buy some $PEPE there in exchange for ETH.
You can buy the $PEPE coin using other ways too. As the coin is available on hugest exchanges, you can buy it on some of them by card. For instance, Binance supports buying $PEPE with a card. To buy the Pepe coin, do the following:
1. Choose a crypto exchange: Check which of the exchanges supporting $PEPE buying are available in your country. Choose the most trustworthy of them reading the authentic user feedback (you can find it right here, on Cryptogeek). It is also advisable to make sure that the terms and conditions of this exchange fit your demands.
2. Create an account on the exchange: As soon as you have chosen an exchange, open an account on this exchange. Some exchanges may request sending personal data (i.e., ID photo, selfie, email, etc).
3. Protect the account asap: The crypto space is filled with cybercriminals trying to steal tokens that are not protected well. It's better to turn on 2-factor authentication. On many exchanges this measure is obligatory. It will create a strong protection layer for your account and funds.
4. Buy $PEPE: Find the "Buy with a card" section. Choose $PEPE, specify the amount you want to acquire, choose the payment method, and initiate a transaction.
5. Withdraw $PEPE from the exchange: Choose the ERC20-compatible wallet in which you will store $PEPE. Choosing the wallet may be difficult. It's better to rely on the user feedback and compare the different wallets features. As soon as you create a wallet suitable for operations with $PEPE, withdraw the coins to it. Storing money on exchanges is a practice widely recognized as not secure.
If you can’t find a satisfactory exchange that provides an opportunity to buy $PEPE with a card, buy a different cryptocurrency that you will be able to exchange for $PEPE on Uniswap or via in-built exchange of your wallet.
Pepe Coin Roadmap
As of March 2024, the roadmap on the PEPE website contains only three phases:
- Meme
- Vibe and HODL
- Meme Takeover
Allegedly, earlier the roadmap contained more plans like getting listed on the hugest exchanges and CoinMarketCap, however, all of these is already achieved. Probably, after hitting those goals, the website owners didn't come up with any new goals and left it at that.
Is PEPE a Good Investment?
In no way the purpose of this article is giving investment advice. Crypto market is known for its high volatility. In the case of the Pepe coin, a factor contributing to indetermination is the lack of a dedicated dev team and distinct plans about the future.
Considering the current high rank of the token, it can be regarded as relatively more stable than most as top cryptocurrencies in general are less prone to volatility and sharp downfalls. Nevertheless, it's better to use tech analysis tools to better understand the prospects of this coin if you consider investing money in $PEPE.
Conclusion
$PEPE is a rare memecoin that enjoyed a sudden success in 2024 and broke into the top 50 cryptocurrencies by market cap. It is especially unusual, considering the fact that Pepe coin doesn't have a formal development team and no actual roadmap.
Buying this coin is not that hard as $PEPE is supported on most major crypto exchanges, many of which allow you to buy crypto with a card. Alternatively, the coin can be bought in exchange for ETH, a crypto that is even easier to acquire.
FAQs
Where to buy pepe coin in the US?
In the US, you can buy $PEPE effortlessly by card using the Kraken exchange.
Is Pepe coin the most popular memecoin?
As of 2024, $PEPE is one of the most popular memecoins, however, market cap-wise it stands lower than Dogecoin (the most successful memecoin so far) and Shiba Inu token.