Pepe Coin (PEPE) on Binance: From Meme to Market Phenomenon
🐸 What Is Pepe Coin?
Pepe Coin (PEPE) is an ERC-20 token launched in April 2023 on the Ethereum blockchain. Inspired by the popular internet meme “Pepe the Frog,” PEPE quickly gained traction in the crypto community, positioning itself as a prominent meme-based cryptocurrency.
📈 Binance Listing and Market Impact
On May 5, 2023, Binance announced the listing of PEPE in its Innovation Zone, opening trading pairs PEPE/USDT and PEPE/TUSD. This move significantly boosted PEPE’s visibility and trading volume.
Following the listing, PEPE’s price surged by over 100% within 24 hours, reflecting heightened investor interest and market enthusiasm.
💰 Tokenomics and Supply
• Total Supply: 420,690,000,000,000 PEPE tokens
• Liquidity Allocation: 93.1% of the total supply was added to a liquidity pool on Uniswap, with the corresponding LP tokens burned.
• Team Allocation: The remaining 6.9% is held in a multi-signature wallet designated for future centralized exchange listings, bridges, and liquidity pools.
It’s important to note that PEPE carries a disclaimer stating it has no intrinsic value or expectation of financial return. The project is intended for entertainment purposes only.
🔥 Deflationary Mechanism
PEPE employs a deflationary model, incorporating token burns to reduce the circulating supply and potentially increase scarcity over time. This mechanism aims to incentivize holding and contribute to the token’s value proposition.
🌐 Community and Cultural Impact
PEPE’s rapid ascent is largely attributed to its vibrant community and the viral nature of internet memes. The project has no formal association with the original creator of Pepe the Frog, Matt Furie, but leverages the meme’s widespread recognition to foster a dedicated following.
📊 Current Market Data
As of the latest data, PEPE is trading at approximately $0.000009 USD, with a market capitalization of around $3.93 billion USD.
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Note: Cryptocurrency investments carry risks. It’s essential to conduct thorough research and consult financial advisors before making investment decisions.