Pepe Coin (ETH: $PEPE) is a deflationary token built on the Ethereum blockchain. It was created as a meme coin, sparking the 2023 meme coin season, reigniting trading on decentralized exchanges (DEXs).
PEPE was inspired by the Pepe The Frog meme, which became popular online in the early 2000s. It capitalized on the hype around meme coins like Dogecoin and Shiba Inu to become the leading meme coin.
Unique Features of PEPE
PEPE launched with some unique features that got the crypto community talking. One of them was a no-tax policy. By eliminating unwanted buy and sell taxes, the project ensured cost-effective trading. Another great feature is the redistributive system, which ensures a fraction of the transaction fee is allocated to the existing token holders. As such, the PEPE community was incentivized to encourage others to join the ecosystem. The team also implemented a burning mechanism helps to maintain the scarcity of PEPE.
How Pepe Coin Popularized DEXTools.io
Pepe Coin played an important role in popularizing DEXTools.io, the decentralized trading platform. It all started on March 30, 2023, when the Pepe.vip domain name was registered. A few days later, on April 4th, the X / formerly Twitter account was created; where it remained inactive for ten days. Then, on April 11th, the PEPE telegram group was was opened, and PEPE was officially listed on DEXTools.
On April 16th, just two days after getting listed on DEXTools, its Twitter account gained over 35,000 followers. The hype on Twitter grew louder, as the price of PEPE continued pumping. The result was an exponential increase in trading volume on DEXTools. This all helped to rejuvenate interest, as PEPE was listed in many more DEXs, including Uniswap.
By the end of April 2023, the price of Pepe Coin had pumped by over +2,100%. By the start of May 2023, PEPE’s liquidity pools on Uniswap V2 and V3 for PEPE-WETH were the most active crypto by number of transactions. At the time, the liquidity pools recorded 82,750 and 72,950 transactions, respectively, over seven days. The data pointed to the start of the 2023 meme coin fever.
The 2023 Meme Coin Fever
Soon after PEPE became the most traded meme coin in the crypto world, various other meme coin projects launched to capitalize on the growing interest. One notable project was Pepe V2. It promised to be a better version of the original PEPE coin, while helping those who missed the original price rally to make some gains in the meme coin market. Another notable project was DEDE, the PEPE killer, whose goal was to replace PEPE as the leading meme coin.
$PEPE Token Price History
$PEPE achieved its all-time high (ATH) price of $0.000004354 per token on May 5, 2023, with a market cap of around $1.46 billion. At the time, its daily trading volume was over $2 billion. Since then, the token price has dropped to around $0.0000007938 with a market cap of $311 million. The current price of the $PEPE token represents a 79.29% discount from the ATH.
[Click The $PEPE Chart Above To View On CoinMarketCap]
Social Media
PEPE has an immense social media following with 484K followers on Twitter, and 97,663 members on Telegram.
Pepe Coin’s Future Looks Great
Despite a recent performance drop, PEPE remains wildly popular in crypto circles. As such, it is likely to have a long and successful future. Examining the price history of other successful meme coins like DOGE and SHIB, one could expect that PEPE still has a few more rallies in its future.
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