PEPE is a meme coin featuring the popular character Pepe the Frog. has experienced a significant surge in value in the past week. Its market capitalization has surged from $141 million on April 22 to a current valuation of $303 million, making it the fifth-largest meme token by market cap. Should you believe the hype?
What is PEPE Memecoin?
PEPE is a cryptocurrency created in April 2023, designed to be “the most memeable memecoin in existence.” The token pays homage to the popular Pepe the Frog meme and has no intrinsic value like DOGE. The coin is essentially useless and for entertainment and speculation purposes only.
Where can you trade PEPE Meme Coin?
PEPE is hosted on few centralized exchanges, but the majority of its trading activity is on Uniswap, the decentralized exchange . You can buy PEPE on MEXC. Bigger exchanges have announced that they will launch perpetual futures with PEPE.
The total token supply of PEPE is 420,690,000,000,000, and 93.1% of the supply has been sent to the liquidity pool, with the LP tokens burnt, and the contract itself renounced. The remaining 6.9% of the total supply is being held in a multi-sig wallet and is to be used for future listings on centralized exchanges, liquidity pools, and bridges.
How does PEPE compare to other meme coins?
As of April 30, 2023, PEPE is the fifth-largest meme token by market cap, with a market capitalization of $303 million. Dogecoin (DOGE) and Shiba Inu (SHIB) have remained at the forefront of the meme coin market for the last two years.
What is the impact of meme coins on the broader crypto economy?
While the market value of meme coins may fluctuate, their impact on the broader crypto economy has not been ignored. Memecoins assets have increased demand from investors and speculation in the cryptocurrency market and also have risen the fees of the Ethereum Network by a lot.
PEPE has been one of the most volatile cryptocurrencies since its creation, and its price swings are tremendous. While the coin’s value may seem to be going up rapidly, the risks are particularly amplified with freshly-minted memecoins that came out of nowhere. Additionally, there are security risks associated with interacting with the DeFi ecosystem, including the possibility of scams. Therefore, it’s important to follow basic crypto security tips when dealing with PEPE Memecoin or any other cryptocurrency.