One of the most interesting meme coins to date, Pepe Coin, has only been in existence for two years. Yet, it managed to put the “meme coin” concept on the map for those who watched uninspired how previous peers gained popularity, such as DogeCoin and Shiba Inu.
Associated with a viral online meme that portrays a green, personified frog, the cryptocurrency managed to scale the hierarchy and land the top of the most popular meme coins out there. Enticed by the promising Pepecoin price and prospects, both beginner and experienced investors inject capital into the crypto to diversify their investment portfolios.
One can diversify their crypto-based portfolio with Pepe Coin by simply opening up an account on a reliable crypto exchange and converting fiat into crypto. A valid and popular idea is to diversify the whole portfolio, adding meme coins next to asset classes like stocks, commodities, bonds, CFDs, funds, etc.
If Pepe Coin has caught your interest and you want a summary of its workings, you’re encouraged to read on to learn more.
PEPE’s Roots
Pepe Coin’s story is unique in that it managed to hit the $1BN total market cap in double the time Dogecoin needed to hit the same benchmark. PEPE used a super viral meme, Pepe the Frog, for its reach on social media platforms like X and Telegram.
While meme tokens like Shiba Inu and Dogecoin chose popular meme images with dogs, Pepe Coin opted for a less common approach.
The development team behind the project saw fit an image made in 2005 by creator Matt Furie, namely a frog that made its initial appearance in the artist’s “Boy’s Club” comic. Instigated by the creation, the devs released the PEPE crypto two years ago.
For the sake of mystification, there’s no public or official information about the developers of this project. Even though they kept their persona a secret, the team succeeded in leveraging the power of social media and word-of-mouth marketing to push their project into the limelight.
This achievement is shown by milestones like the market cap, which is worth over $3,56BN at the moment of writing, just shy of popular coins like Monero (XMR), Polkadot (DOT), and Uniswap (UNI).
Within weeks after Pepe Coin’s debut, it managed to hit a market cap of over $1BN, but that’s not all. The coin’s fame is also attributed to the well-known earning stories surrounding it. For instance, a trader made $79MN from an investment of $83 in Pepe last year in May.
In short, he invested those greenbacks in the project in 2023 and stuck with his investment throughout the market’s fluctuations until that profit was attained.
The Deflationary Standard
Pepe Coin runs on the Ethereum blockchain, like Tether, Chainlink, Shiba Inu, Wrapped Bitcoin, and Toncoin, among other 200 cryptos built the same way. Ethereum’s ecosystem is impressively large, so jotting down all the projects that have emerged in the last years would take forever and a day.
Pepe Coin relies on the deflationary supply model, a standard that entails that a crypto’s supply is either fixed or declining. Unlike inflationary models, cryptos built based on this standard see reducing supply in time, creating scarcity that should help increase the asset’s price directionally proportional to demand.
In support of understanding the mechanism better, scarcity can propel a crypto’s price when there are fewer tokens available, thus creating a scarcer supply and hearty demand for the existing ones.
Pepe Coin additionally ensures there are zero transaction charges – another trait that boosts its draw and potential share appreciation.
Curious Fact
Pepe the Frog took off in 2016 when Donald Trump’s advocates started sharing an online meme as part of a broader movement under the umbrella of the presidential election. The meme featured the frog with a hat inscribed with the politician’s slogan.
Matt Furie, the meme’s designer, misliked how his creation was taken advantage of for ideological and political reasons. He put the basis of the “#SavePepe” campaign in an effort to disassociate the meme coin from its political context and turn it into a symbol of peace and love.
As per the artist’s words, Pepe is what each individual feels about it. But for him, “Pepe is love”.
Graphic Changes Throughout Time
The coin’s graphic has changed grandiosely throughout time. 2005 was the moment that Matt Furie developed Pepe the Frog, being the first stepping stone and heralding the launch of the first Ethereum-based non-fungible token collection of Pepe.
Moving forward, the primary Ethereum Token was relaunched nine years later, marking the moment when the token was enjoying fantastic popularity because of the massive market capitalization that had accumulated. In 2024, the project launched the first layer-1 (L1) proof-of-work (PoW) blockchain to fuse every frog, or token.
The Coin’s Development
Pepe Coin stands out through its potent security and decentralization. There can’t be more than 420.69TN coins, and 93.1% of the supply has been in a liquidity pool since its debut.
A noteworthy aspect of the asset is the use of the deflationary standard. An insignificant percentage of tokens are burned every time a transaction is processed, an approach that can contribute to the improvement of the crypto’s value over time.
Moreover, the coin relies on a redistribution system that other cryptos don’t. This means that the existing Pepe Coin owners receive a part of every transaction, theoretically helping promote long-term investments. The asset’s holders are rewarded for the mere fact that they possess tokens.
As expected, this feature keeps users glued to the project. The project’s marketing strategies, including the revolutionary airdrop initiative, managed to send Pepe Coin to new peaks of fame. Another draw is that users and traders don’t have to pay extra costs for transactions – a feat that many other cryptos lack.
Last Words
Pepe Coin’s competitive standing and unique approaches establish it as a meme coin superpower in the crypto space. If you want to navigate the meme coin waters and don’t know where to start, this crypto might be a good starting point, considering you do your research and know exactly what you’re getting yourself into.
