The cryptocurrency world is still very vibrant and active, with a lot of experimenting and speculation, and sometimes jokes and memes. Pepe Coin is one kind of meme coin that tries to use Pepe the Frog meme as the source of inspiration. We will know in detail about this new mechanically generated currency, the sources, uses, and risks of investing in it.
Let’s understand more.
When is the Pepe Coin Launch Date?
When is the Pepe Coin Launch Date?
Pepe the Frog comes from a comic where the cartoon character was created by Matt Furie and to be precise, it is very popular on the internet nowadays.
Release Date:
Pepe Coin was launched in May 2023 to follow in the footsteps of other meme coins such as Dogecoin and Shiba Inu.
It has two main types:
- PEPE (ERC-20): It is a digital currency that runs on the Ethereum platform where it doesn’t have any taxes and aims to be a fun and carefree addition to the meme coin market.
- PEPE (BSC): This PEPE is on the Binance Smart Chain and has a way to reduce the number of tokens in circulation to control how many there are.
Read About: GME Coin
Examining the Technicality
Examining the Technicality (Inside)
PEPE (ERC-20) is a type of digital money that works on the Ethereum blockchain. This brings the safety and strong system of Ethereum to the discussion. Pepe (BSC) uses the Binance Smart Chain, which is known for being faster and cheaper for transactions.
Some important technical details:
- Total Supply: There are 420 trillion PEPE (BSC) compared to a smaller PEPE (ERC-20).
- Circulating Supply: Both versions of PEPE have ways to control the number of tokens, with PEPE (BSC) using a burning method.
- Transaction Fees: It is for PEPE (ERC-20) to use Ethereum’s fee system, which can be big if there are a lot of people using the network. Pepe (BSC) has lower fees because of the Binance Smart Chain.
What is the current Pepe Coin Price?
What is the current Pepe Coin Price?
As of 2 August, 2024, one Pepe coin costs around $0.00001 in the market and the total value of all coins in circulation worldwide is fixed at $4.99 billion, and from that $773.92 million worth of coins were traded in the last 24 hours.
Pepe Coin has been bought and sold for $0.00001232 in the last 24 hours and last day the price went up by 4.14% but on the contrary last week it went down to $0.00001148. The Fluctuations are very normal considering the volatility in the market due to the recession and as soon as the market goes up, the coin will get a rise which is predicted by almost everyone.
The Pepe Coin Market Cap
The current ranking of Pepe Coin is #23 in the competition, with a live market cap of USD 4.11 billion
Read About: Big Eyes Coin
How to Buy Pepe Coin?
How to Buy Pepe Coin?
There are two main ways to purchase Pepe Coin, depending on which version you want (ERC-20 or BSC).
Centralized Exchanges (CEXs)
This is usually the simplest choice for beginners because CEXs are like regular stock exchanges but only handle cryptocurrencies.
- Choose a Pepe Coin supportive CEX: Pick a place to buy, sell, or trade this Coin. Popular choices are Binance, KuCoin, or Gemini (depending on what’s available). Please visit the exchange’s website to see which coins they support.
- Sign Up and Confirm Your Identity: This is something you do on most CEXs to stop people from being dishonest.
- Add money to your account: You can put money in your account using different ways such as bank transfer, credit card (that’s only available on some websites), or using another type of digital money that you already have.
- Purchase Pepe Coin: When you have money ready, go to the trading section and look for PEPE (ERC-20) or PEPE (BSC) based on what you like.
- Place an Order: You can buy the coin by having an amount you want to invest and whether you wish to do so at the current prices or wait for it to reach a favorable price level in the future. This means a market order is really an order to purchase or sell an existing market at whatever price is currently available for sale while for limit, you can set your own price at which you want to buy or sell your stocks.
Decentralized exchanges
In other words, DEXs help people buy any kind of cryptocurrency directly from each other. This can be a bit confusing to the newbies though, as it will offer you more control over money as compared to the normal accounts.
- Choose a Pepe Coin-Supportive DEX and Wallet: Some of the prominent decentralized exchanges include DEXes that operate on BSC, such as PancakeSwap and those of the Uniswap ERC-20. Make sure the DEX integrates the wallet you prefer to hold your Coin in or use for trading it.
- Create a Crypto Wallet: Ultimately, to store the coin to keep it safe, you will require a crypto wallet. Some of the most commonly used ones include the meta mask or Trust wallet. Remember, your private keys are similar to the physical key that gives you access to your wallet, therefore ensure that you choose a credible wallet and ensure that the keys do not fall into the wrong hands.
- Fund Your Wallet: To acquire this coin, you have to insert cryptos (such as BNB or ETH) into your pocket or purse so you can acquire it from the decentralized exchange.
- Link your wallet to the DEX: All you have to do is follow the given steps on the DEX platform if one exists and connect your crypto wallet.
- Swap for Pepe Coin: Select a trading pair corresponding to the preferred version of Pepe Coin: PEPE/BNB for BSC or PEPE/ETH for ERC-20 to tell how many coins you need and what amount of the existing cryptocurrency you are ready to invest.
Difference (Pepe Coin vs. DogeCoin vs. Shiba Inu)
Difference (Pepe Coin vs. DogeCoin vs. Shiba Inu)
| Feature | Pepe Coin / DogeCoin / Shiba Inu |
| Launch Year | 2023 / 2013 / 2020 |
| Current Price | $0.0000014 / 0.13 / 0.000012 |
| Market Cap | $1.4 Billion / $18 Billion / $7 Billion |
| Community Focus | Pepe the Frog Meme / Dog-Loving Online Community / Shiba Inu Dog Breed Enthusiasts |
What are the Potential and Risks of the Meme Coins?
What are the Potential and Risks of the Meme Coins?
Meme coins are really popular in the world of cryptocurrency. Their success depends on involving the community and spreading quickly online. If a lot of people get involved with Pepe Coin and work together, its price could go up a lot. The happiness that Pepe memes bring is also important to consider.
However, there are dangers to think about:
- Volatility: Meme coins can have big price changes, so they are very unpredictable.
- Limited Usefulness: Unlike some cryptocurrencies that are used in the real world, PEPE mainly exists for fun and as a meme coin. This can be a problem for people who want to invest for a long time.
- Meme Dependence: Relying on the popularity of the Pepe the Frog meme is really important for the success of Pepe Coin. If people stop talking about the meme, the coin might not be worth as much.
To Sum Up:
Pepe Coin is a type of digital money based on a popular meme called Pepe the Frog. It lets people join in on the trend of using memes. Constructed on Ethereum or Binance Smart Chain, it has a big focus on its community. However, the risks are that prices can change a lot and depend on how popular a meme is. Think about these things carefully and do some research before getting involved with Pepe.
That’s it for now. 🤟
Thanks for reading.
