Pepe Memecoin: What Is It? Who Founded It? Why It Is Seeing A Slump In Prices Now

Pepe Coin was inspired by the “Pepe the Frog” meme, made famous by artist Matt Furie.

Pepe Coin was deployed and founded by an anonymous user and made its debut appearance on April 16, 2023, without any presale and zero taxes. It also had a burnt liquidity pool as it was trying to position itself as a people’s coin.

Source : Twitter/@pepecoineth

After the recent listing of the new memecoin Pepe (PEPE) on Binance, the token started witnessing massive losses, despite crypto gurus expecting a rally. Pepe, which still has a market capitalisation of more than $1 billion, saw a 24-hour loss of over 23 per cent on the CoinMarketCap at the time of writing. In case you were wondering what PEPE actually is, who founded it, and why it is seeing a slump in prices suddenly, read on to find out.

What Is Pepe Coin?

Pepe coin is a memecoin inspired by the “Pepe the Frog” meme by artist Matt Furie. Its aim is to surpass the other memecoins such as DOGE and SHIBA.

The token has a circulation supply of over 420 trillion coins, as per Datawallet. But over 93.1 per cent of these have already been sent to the liquidity pool. These contributed about 6.9 per cent of the supply to remain in a multi-signature wallet for the purpose of future exchange listings, bridges, and liquidity pools.

Who Founded Pepe Memecoin?

Pepe Coin was deployed and founded by an anonymous user. The memecoin made its debut on April 16 this year, without any presale and promises of zero taxes. It also had a burnt liquidity pool as it was trying to position itself as a people’s coin. 

Interestingly, the creators would like to remain anonymous, which is not a new thing in the crypto industry. For instance, nobody actually knows about the founder of the world's first cryptocurrency Bitcoin.

As explained above, the token was inspired by a very popular “Pepe the Frog” memecoin in 2010. And the design of the token is on similar lines to the green iconic frog of the meme.

What Are The Benefits Of Pepe Coin?

Pepe Coin is an ERC20 token which was built on the Ethereum blockchain, which means it can generally be considered as reliable and secure. It also enables compatibility with several decentralised applications (dApps) and wallets.

Another benefit of the token is that it has a deflationary mechanism. This means that each transaction burns a tiny percentage of the tokens, which further reduces the total supply over a certain period of time. And this scarcity can ensure in increasing the coin’s value as well, which further makes it more appealing to investors.

In addition to all of these, Pepe Coin also employs a redistribution system. This means that a portion of every transaction gets distributed to already existing token holders. It also incentivises long-term holding and investment plans.

Eventually, the added benefit of the Pepe Coin is that it puts more emphasis on the engagement and development of the community. The entire team tries to develop and encourage a strong and very supportive community as they engage with the users on a consistent basis through social media platforms.

And this active community development and full commitment to the users ensure that Pepe Coin stands out among its peers.

What Is The Roadmap For Pepe Coin?

The roadmap for Pepe Coin is in three phases including Meme, Vibe and HODL, and Meme Takeover. The first phase of the meme is about launching the coin and getting listed on popular platforms like CoinGecko and Coinmarketcap.

The second phase focuses on community partnerships, a token-gated Discord group, and exchange listings.

And the third phase is about merchandising and the establishment of Pepe Academy, Pepe Tools, and Tier 1 exchange listings. Its objective is to achieve a meme takeover with 100,000+ holders across the globe.

How Can You Purchase Pepe Coin?

In order to purchase Pepe Coin, investors need to make a MetaMask Wallet, obtain some ETH and swap that ETH for PEPE on Uniswap.

Users and investors can also sign up for trusted exchanges such as Bybit because it supports Pepe Coin trading. They can also use it to deposit fiat currency and any other cryptocurrency to swap it for $PEPE tokens.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.