What is Pepe PEPE? Meet the latest viral meme coin phenomenon Kraken Blog Kraken Blog

Some crypto products and markets is tor safe learn how secure tor is are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. There are currently 391,790,000,000,000 (~93%) PEPE tokens in circulation.

PEPE’s official Twitter account describes the token as the “most memeable meme coin in existence,” adding that the “dogs have had their day”—a reference to an earlier generation of meme coins including Dogecoin. In late April to May 2023, the explosive surge of PEPE caused its market cap to reach a high of $1.6 billion at one point, how to transfer from paper wallet to coinbase dash 1070 hashrate minting millionaires out of early holders and attracting a strong community of like-minded followers. It has induced what some may dub a “memecoin season,” causing other memecoins — some launched within hours — to go on spectacular pumps and just as astounding dumps. It remains to be seen if PEPE and other memecoins will go on to new highs, although that is certainly the hope of many believers waiting for the coming BTC halving cycle praying for a Bull Run.

History of PEPE Coin

This feature has become increasingly popular among crypto creators as a means of mitigating fears of rug pulls and other fraudulent activity. However, traders should not rely upon this exclusively and this does not mean that there aren’t any risks when dealing with these types of projects. On the official PEPE website, the crypto project expressly mentions it has no affiliation with Pepe the Frog’s creator Matt Furie. The Pepe project and its native token simply exist as a fan-driven platform that seeks to further expand the utility and success of the famous frog. In early April, the Twitter account @pepecoineth posted a photo of a cartoonish green frog wearing a red cap emblazoned with “Make Memecoins Great Again,” referring to Donald Trump’s presidential slogan.

• Volt Inu and VoltiChange are affiliated with Pepe via VoltiChange’s widget integration directly onto Pepe Coin’s website.
• Consider the Product Disclosure Statement (PDS), Target Market Determination (TMD) and other applicable product documentation before making a decision to purchase, acquire, invest in or apply for a financial or credit product.
• While the official Pepe Coin website says that the token has no intrinsic value or expectation of financial return, the number of holders continues to be impressive.
• Launched in mid-April 2023, PEPE is an example of a meme coin, though one of a different variety than the oft-popular Dogecoin (DOGE) or Shiba Inu (SHIB) tokens.
• While this isn’t always the case with anonymous creators, it certainly pays to be mindful when approaching these kinds of projects.

On the one hand, they have no fundamental value from which a fair value can be determined, which makes them seem overpriced. However, this also means that the fair value is entirely unknown and, therefore, no longer a factor for valuing these coins. Musk also confirmed that Tesla owns some unknown amount of Dogecoin when he was sued for $258 billion for an alleged racketeering scheme designed to inflate the price of the cryptocurrency. (The lawsuit was dismissed earlier this year.) Musk toyed with Dogecoin at X, too, having briefly changed the company’s logo last year to be the doge meme — another move that resulted in a sharp boost in the price of Dogecoin. Pepe (PEPE) zoomed into the twenty largest tokens by market capitalization earlier Thursday as a “beta bet” narrative added nearly 40% to the token in the past week, CoinMarketCap data shows.

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Once you’ve decided on your preferred crypto exchange and created an account, you must follow a verification process to fulfil the exchange’s mandatory “Know Your Customer” requirements. This typically involves taking a selfie and providing some government-issued ID. Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Of the maximum supply, 93.1% were sent to the liquidity pool on Uniswap, where LP tokens were burnt, and the deployer contract was sent to a null address. The remaining 6.9% is held in a multi-sig wallet, for future CEX listings, bridges and liquidity pools. Most exchanges accept a variety of payment methods, including bank transfers, card payments and other cryptocurrencies. Choose the payment method that works best for you and follow the instructions to deposit funds into your account. To buy Pepe Coin, you’ll need to create an account with a reputable crypto exchange that lists the coin.

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They said they made it as a joke, with its name a reference the popular “doge” meme, or an image of a Shiba Inu, a particular breed of dog. As opposed to Bitcoin, a replacement for currency, or Ethereum, a decentralized computing platform, Dogecoin unapologetically had no purpose. Soon, Pepe became a popular meme, and the internet used the frog’s expressive face in almost every conceivable circumstance, including hate speech. In 2016, the Anti-Defamation League designated the meme as a hate symbol. The organization cited various online examples, including an image of Pepe saying “feels good” while wearing a Nazi stormtrooper helmet. According to CoinDCX’s PEPE prediction blog, there’s a high probability that in Oct. 2024, PEPE might recur if the overall crypto market experiences a rally.

Of course, more than 99% barely see the light of day, and even those that find fleeting success often sink back into irrelevancy. However, there are a select few that appear to have staying power, one of which is Pepe.

With such a super extraordinary entry, PEPE surged by a whopping 7,000% within a matter of just 17 days and rocked the crypto meme coin industry. But the potential for investors to score big with meme coins is real, nonetheless, as seen by the soaring gains for such coins and a bustling industry of new tokens sprouting up constantly. Note that there are multiple meme coins with similar names; we are focused specifically on $PEPE here.

PEPE employs a redistribution system that rewards long-term stakers, offering them incentives to remain committed to the project. This approach encourages coin stability by rewarding users for holding the token rather than selling it quickly. Additionally, PEPE features a burning mechanism whereby a portion of the coins are permanently removed from circulation on a regular what you really need to know about revolut crypto rates basis. This aims to maintain scarcity despite the coin’s 420,690,000,000,000 maximum supply. By following these steps, you can buy Pepe Coin and cut your teeth on the volatile world of memecoins. Remember always to do your own research and never invest more than you can afford to lose.

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While some investors may view this as a minor issue, others may see it as a major red flag, particularly in light of past instances of anonymous teams behind viral projects stealing funds or engaging in other malicious activities. So when Trump announced his campaign for president that year, Pepe was still prevalent online. Because the meme is so divorced from the original context of the Matt Furie comic, the apolitical character became a de facto dog whistle signaling involvement in alt-right movements. Trump began to post Pepe memes that echoed his beliefs, as calls to “build the wall” on the country’s southern border with Mexico grew in the U.S. The jokes were funny 10 years ago, but like any meme, these unfamiliar phrasings could only remain entertaining for so long. However, Doge maintained cultural relevance because, in late 2013, two software engineers created a new cryptocurrency as a joke and named it Dogecoin, a reference to the Doge meme.

One notable example is Pepe 2.0, which is a separate meme coin that claims to have been created by individuals who were blacklisted by the official Pepe Coin team. Pepe 2.0 differs from the original Pepe Coin, as it includes a 1% transaction fee on buys and sells that is supposed to be used for liquidity, marketing, and community development. While the coin has no fundamental value, its anonymous creators built some mechanics to incentivise investors to hold the token. This system redistributes rewards to long-term holders and creates deflationary pressure that burns tokens, creating scarcity that puts upward pressure on the token’s price.

If there’s one meme that encapsulates the confusing twists and turns of internet culture, it’s a green frog with a preternaturally expressive face. This came just as the crypto market appeared to be turning bullish again. The team also states that it has “no devs, just community,” meaning the goal of Pepe Coin is not a technological breakthrough, but as a meme community project in the crypto space. Another concern is the anonymity of the founders, which can make it difficult to assess the project’s legitimacy and long-term viability.