Anyone can create any cryptocurrency in the fastest world. This freedom has led to various cryptocurrency subsectors, each trying to solve a problem or express a unique concept. But one such subsector is meme coins. Meme coins represent a way to bring internet culture and popular online trends onto the blockchain. It gained popularity on social media platforms like Reddit, which became a widely traded cryptocurrency. PEPE illustrates internet culture’s power in driving digital asset adoption. Pepe (PEPE) is a prime example of a meme coin. It is based on the popular Pepe the Frog meme, which originated from Matt Furie’s comic Boy’s Club. The PEPE meme coin launched in April 2023 and quickly became an internet sensation. We will take a detailed review of Pepe coin in this article.
How does Pepe (PEPE) Operate?
PEPE runs as an ERC-20 token on the Ethereum blockchain. This setup means PEPE uses Ethereum’s strong network of validators to handle transactions securely and efficiently. Ethereum’s smart contracts also give PEPE added features and capabilities.
What are The Best Features of PEPE Coin?
Pepe (PEPE) has several unique traits that set it apart from other meme coins:
Liquidity Provider (LP) Token Burn
The Pepe team deposited 93.10% of the project’s token supply into liquidity pools. This move allowed trading to commence smoothly. After depositing the tokens, the team burned (permanently destroyed) the liquidity provider tokens (LP tokens).
This ensured that the liquidity would remain in the respective pools, which provided stability and security for traders.
Renounced Contract Ownership
After creating PEPE, the team renounced their ownership of the token contract. This means they no longer have control over the cryptocurrency, which includes the ability to modify its code. Contract ownership renunciation is now a common practice among crypto creators. It helps to mitigate fears of rug pulls, where a team might abandon a project after collecting funds, or engage in other fraudulent activities.
No-Tax Policy
Some meme coins impose taxes on transactions, but PEPE does not charge additional fees. This no-tax policy makes PEPE transactions more accessible and user-friendly. Its Users can transact without worrying about extra costs, which promotes ease of use.
What Makes Pepe (PEPE) Valuable?
PEPE’s value is mostly derived from consumer demand and its close ties to online culture. PEPE serves as a quick, affordable, and international means of transferring digital value.
PEPE’s popularity in the online community has increased its value. The virality of the Pepe the Frog meme has helped PEPE transcend its comic book origins and establish itself as a significant player in the meme coin market.
Risks Associated with Pepe PEPE
Like many meme coins, PEPE experiences extreme volatility. Meme coins often see sharp price movements, leading to significant profits or losses. PEPE’s price has already shown substantial volatility since its launch, and this trend might persist.
The meme coin sector is a high-risk, high-reward space, and PEPE is no exception. Investors should understand these risks before engaging with PEPE.
Pepe Coin Rise in the Market
Since the beginning of 2024, PEPE’s price has surged by over 500%. This dramatic rise has made PEPE the fourth-largest meme coin by market capitalization, trailing only Dogecoin, Shiba Inu, and Dogwifhat.
The coin’s value has increased from just under $0.0000014 to approximately $0.0000078, which reflects its growing popularity and market presence. PEPE is now venturing into new territory in terms of market valuation. It has significant milestones, such as the $0.00001 mark, potentially within reach.
How to Buy PEPE?
If you are interested in purchasing PEPE, you can follow these steps:
Create an Account
Start by signing up on the CoinDCX website or mobile app. Then you need to enter your email address and create a secure password to set up your account.
Complete KYC Verification
Submit the required identification documents to finish the KYC verification. This step is crucial for meeting regulations and gaining full access to CoinDCX.
Deposit Funds
Add money to your CoinDCX account in Indian Rupees (INR). The platform provides different secure ways to deposit funds.
Navigate to the Trading Section
Once your account is funded, go to the trading section of the CoinDCX platform. Look for the PEPE trading pair to begin the purchase process.
Place a Buy Order
You can choose how much PEPE you want to buy and place your order. You can go with a market order, which buys at the current price, or a limit order, where you set the price you want to pay.
In Short
Pepe Coin has become a prominent player in the meme coin sector. Its unique features, strong community support, and connection to the iconic ‘Pepe the Frog’ meme have helped it stand out. A dedicated community and strong principles position PEPE as a leading meme coin in the evolving cryptocurrency landscape.
