Pepe Coin is similar to any other meme coin; it doesn’t hold any intrinsic value or expectation of financial return, along with no utility. However, lacking utility and fundamental value didn’t stop Pepe Coin from getting on the list of 100 cryptocurrencies by market cap in just two weeks after its launch. It is also known as the most memeable meme coin.
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Pepe Coin can be defined more narrowly as an Ethereum-based deflationary meme coin that was inspired by the Pepe the Frog meme. This meme coin experienced a rapid rise in 2023 and managed to gather a broad community of supporters.
Since it is an ERC-20 token, PEPE takes advantage of all benefits provided by the Ethereum network such as a high degree of security enabled by Ethereum’s Proof-of-Stake (PoS) consensus mechanism.
The project’s roadmap has been set out in three main phases focusing on gaining popularity through listings such as CoinMarketCap’s listing of total market capitalisation and social media platforms and being listed on several leading cryptocurrency exchanges.
Pepe Coin has several interesting features though; for example, the project uses a redistribution system created to incentivise potential investors to hold tokens for a longer period. The main objective of this strategy is to maintain the token’s stability and increase its long-term chance for success.
What is a meme coin?
The term meme coin refers to cryptocurrencies named after fictional characters, animals, artwork, or something else that can be mimicked. They are mainly intended to be entertaining and light-hearted. One of their key features is that they hold little or no intrinsic value at all.
Since meme coins don’t have any utility, they include a high degree of risk when it comes to investments on the crypto market. They are based on the engagement of a dedicated online community of crypto enthusiasts that supports its growth and the entire meme culture.
Some of the top cryptocurrencies within the meme coin space are Dogecoin and Shiba Inu.
A little bit of history
Pepe Coin was first introduced in April 2023. The meme coin gained immense popularity and reached a market capitalisation exceeding $420 million. In just three weeks after its official launch, Pepe Coin’s total market cap surpassed $1 billion. For the sake of comparison, it took Dogecoin
The main features of Pepe Coin
Apart from the project’s tribute to the famous Internet meme, Pepe Coin has some interesting features such as a deflationary or burning mechanism, a redistribution system, and a no-tax policy. These features are an important factor in gaining high visibility and community support.
Deflationary mechanism and redistribution system
Pepe Coin includes a deflationary mechanism that involves burning tokens and redistributing rewards to token holders to maintain scarcity and increase its value over time. With each conducted transaction, a small percentage of tokens are burned and removed from circulation.
In addition to the burning mechanism, Pepe Coin claims to use a redistribution system that allocates 1% of every transaction to a pool distributed among all token holders. This system is set to enhance token holders and incentivise investors to support the project.
No-tax policy
We have already mentioned that Pepe Coin is different from Pepe 2.0 due to its no-tax policy; this policy ensures that users can engage in crypto trading activities without additional costs.
The project claims that it enables a higher degree of financial freedom and privacy options to users and encourages the adoption of cryptocurrencies as a medium of exchange, along with promoting decentralised finance (DeFi).
