Why buy Pepe (PEPE)
You might want to buy Pepe because, like Dogecoin, which gave birth to this type of cryptocurrency, it is inspired by one of the internet’s most popular memes: Pepe The Frog. This token, developed on Ethereum using the ERC-20 standard, was launched in May 2023 and reached a market capitalisation of more than $1 billion in just a few days. Moreover, the crypto attracted the attention of the most popular centralised exchanges that listed it within days of its launch.
Then, after several months of downtrend, PEPE came ‘back into fashion’ in March 2024, following the start of one of the most explosive meme seasons ever. In about two weeks, its market capitalisation went from about USD 500 million to USD 4 billion, an increase that, if carried over to the price, reflects a staggering growth of 1000%. This rapid growth is a testament to the potential for exponential growth in the price of meme coins like PEPE.
What is Pepe and how it was born (PEPE)
PEPE, like all cryptocurrencies in this category, was born ‘for fun’, exploiting one of the most popular memes on the internet: Pepe The Frog. It has no particular utility, as do most meme coins, but its success is almost entirely in the hands of the community of crypto enthusiasts who have espoused the cause. The anonymity of the team (or founder) responsible for creating the project is also a feature in line with this type of cryptocurrency.
The economics of this ERC-20 token, the so-called tokenomics, is straightforward. The circulating supply, which coincides with the total supply, is 420,690 billion PEPE. Of this, 6.9% is in the hands of the owner (who created the smart contract) to support the payment required by centralised exchanges for listing on their platforms. This simplicity in tokenomics should give potential buyers confidence in the transparency and stability of the coin.
In short, as you can guess from the content of this article, buying PEPE could be risky. It is a full-blown meme coin whose price is influenced by speculation and community cohesion rather than fundamentals.
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