New hot meme coin
The most memeable coin, Pepe Coin (PEPE), hit the market April 14 2023 with the goal of Making Memecoins Great Again. Pepe Coin was launched stealth with no presale and the contract renounced, meaning their were no VC investors in a position to dump on people buying. It was launched as a coin for the people.
What is Pepe Coin?
Pepe Coin is the latest meme-based cryptocurrency to hit the scene, featuring everyone's beloved gloomy frog. Pepe Coin is based on the Pepe the Frog meme, originally created by Matt Furie in 2005. Over the years Pepe the Frog has gained widespread popularity on various internet platforms, evolving into an emblem of the internet culture, demonstrating the power of memes. However, Pepe Coin does not have an official connection with Matt Furie or the original cartoon character. Tapping into the true power of meme culture, Pepe Coin merges blockchain technology with the contagious appeal of Pepe the Frog, offering an exciting and most likely bumpy experience for its holders.
Emergence and early winners
Using the power of memes and very basic Twitter marketing (including lotteries) Pepe Coin has skyrocketed. The value has increased by millions of percent and reached a total value of about 315 million at the time of writing this post, which has paid off hugely for early investors.
On April 15th (one day after launch), one person exchanged 0.125 ETH ($251) for 5.9 trillion Pepe Coins. After an explosion in interest and price for Pepe Coin, this person's coins are now worth more than $4.1 million as of this writing! From $251 to $4.1 million in two weeks. Of course, if this person were to exit their position entirely, it would put a downward pressure on the price of Pepe Coin.
Through stories of early buyers making huge profits, along with the meme power of Pepe the Frog, Pepe Coin has taken Crypto Twitter and NFT Twitter by storm. Manifold.xyz even added Pepe Coin as a payment option to its platform.
Pepe Coin tokenomics
By delving into tokenomics, you can make more informed decisions about the rewards and risks associated with Pepe Coin.
Let's start with the total supply: a whopping 420,690,000,000,000 tokens! That may seem like a big number (which it is), but it's also part of Pepe Coin's value proposition. The finite nature of the supply means that as demand for Pepe grows, so should its value, assuming demand exceeds supply.
Speaking of value, let's talk about what can affect the value of Pepe Coins. Everything from the memetic power and market sentiment to regulatory changes in the broader crypto market can affect the price. Expect it to fluctuate enormously both up and down depending on how much people talk about this new meme coin sensation.
So, what about distribution? A well-balanced distribution is critical to building a healthy ecosystem and encouraging broad use. In this case, 93.1 % of tokens were sent to the liquidity pool. The remaining 6.9 % are held in a multi-signature team wallet reserved for future centralized IPOs, bridges and liquidity pools. The ENS name 'pepecexwallet.eth' makes this wallet easy to track.
How to buy Pepe Coin
Step 1. Set up your wallet
Kickstart your Pepe Coin adventure by creating a crypto wallet. You can easily get MetaMask or another wallet app for free from the App Store or Google Play Store. Desktop users can opt for the Google Chrome extension available at metamask.io. Alternative crypto wallets include Coinbase Wallet and Uniswap's brand new wallet designed for iOS and Android devices. Read more about different crypto wallets here.
Step 2. Buy ETH
To buy Pepe Coin you need some ETH in your wallet. If you don't already have ETH, you can easily buy it through MetaMask, transfer from another wallet, or buy it on a crypto exchange before sending it to your own wallet.
Step 3. Connect to Uniswap
Now is the time to connect to the decentralized crypto exchange Uniswap. In your browser, type in app.uniswap.org. Then create a connection between your wallet and Uniswap. Paste the Pepe Coin token address (0x6982508145454Ce325dDbE47a25d4ec3d2311933) into the search field on Uniswap, select Pepe and confirm your choice. When you receive a request for a wallet signature from MetaMask, sign to continue.
Step 4. Exchange your ETH for Pepe Coin
Finally, exchange your ETH for Pepe Coin. If Pepe is not visible, enter the token contract address manually (same address as in step 3): 0x6982508145454Ce325dDbE47a25d4ec3d2311933. Complete the transaction and voila! Now you have your meme coins in your crypto wallet.
The future of Pepe Coin
What the future holds for Pepe Coin is sure to be an interesting journey. In the past, we've seen other meme coins like Doge Coin and Shiba Inu experience meteoric rises and falls. Meme coins have historically attracted both investor attention and questioning over a perceived lack of seriousness. But the potential for anyone with a bit of luck and an eye for hot trends in the crypto and NFT world is apparently real after all.
Let's see what the future holds for Pepe Coin.