What Is Pepe (PEPE)?

The PEPE coin is based on the ‘Pepe the Frog’ internet meme. Originating from Matt Furie's comic "Boy's Club,“ the PEPE meme coin launched in April 2023 and quickly became an iconic internet sensation, ubiquitous with the crypto community and leading social media platforms like Reddit. Since then, PEPE has become one of the most traded cryptocurrencies in the world, illustrating the power of internet culture.

What Is The History of Pepe (PEPE)?

The origins of PEPE coin trace back to 2005, when the talented artist Matt Furie introduced the world to a laid-back frog named Pepe in his comic book "Boy's Club."

What started as a comic book character was transformed into an internet meme sensation by 2008. By 2015, the meme's popularity soared to new heights, with countless variations and interpretations flooding the internet. However, in 2016, Pepe's journey took an unexpected turn when it became associated with a controversial movement, leading the Anti-Defamation League to designate it as a hate symbol.

Despite the misuse, Pepe continued to rise in popularity, even gaining recognition from celebrities. The 4chan community, an anonymous online imageboard and discussion forum, responded creatively with the "rare Pepe" trend, showcasing unique variations of the meme. Some of these "rare Pepes" were transformed into physical drawings and auctioned on platforms like eBay.Pepe's influence on the online world was undeniable, its rise garnered it the record of most retweeted meme on Twitter. Pepe Coin was introduced in April 2023, utilising the already popular meme, and quickly gained immense popularity due to the power of social media platforms such as Telegram and X, Pepe Coin gained popularity rapidly.  Within just three weeks of its official launch, Pepe Coin's total market cap surpassed $1 billion. For comparison, it took Dogecoin approximately four years to reach the same milestone.Pepe Coin’s founders remained anonymous. There is no official information about the team behind this meme coin, but they managed to efficiently use social media channels to promote their project within the crypto space.

How Does Pepe (PEPE) Work?

PEPE exists as an ERC-20 token built on top of the Ethereum blockchain. Because of this, Ethereum’s network of proof-of-stake (PoS) validators processes all the PEPE transactions.

What Makes Pepe (PEPE) Unique?

Liquidity Provider (LP) Token Burn

When the coin launched, the Pepe team deposited 93.10% of the project’s token supply into liquidity pools to allow for trading to commence. They then burned (permanently destroyed) the liquidity provider tokens (LP tokens), ensuring liquidity stays in the respective pools.

Renounced Contract Ownership

Once PEPE was created, the team renounced their ownership of the token contract. This means the team who created it no longer have any control over the cryptocurrency, including the ability to modify its code. This feature has become increasingly popular among crypto creators as a means of reducing fears of rug pulls (when the creating team runs away with the project's money) and other fraudulent activity.

No-Tax Policy

Unlike some meme coins which may impose taxes on transactions, PEPE’s transactions don’t have additional fees and allow users to transact without any extra costs. This means ease of use and accessibility for users engaging in PEPE transactions.

What Makes Pepe (PEPE) Valuable?

Currency/Transfer of Value

PEPE is a cryptocurrency and as such it is a borderless, cheap and fast means of transacting value digitally.

Community-driven Internet Culture

Internet cultures have multiple forms, think digital art, viral trends and more. In the case of PEPE, its virality in meme and internet culture has allowed it to transcend its comic book origins and establish itself as a large-scale cryptocurrency.

Strong Community

With a community of over 200,000 holders, PEPE is one of the largest meme coins by wallet holders.