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Pepe is a meme coin project intended to honor the beloved and controversial character Pepe the Frog, created by artist Matthew Furie close to 20 years ago. 

Almost anyone who has engaged in the crypto sector is familiar with the existence of successful 

. Although many of these are initially released as jokes, some have experienced substantive growth. 

Back in April 2023, a new meme coin entered the sector and made headlines, as it was based on the infamous Pepe the Frog meme 

. In 2005, the character of Pepe appeared in an infamous comic with the caption “Feels Good Man” that spread, and one of the internet's most (in)famous memes was born.

As the Pepe meme coin has burst onto the scene, it aims to increase in popularity and become one of the most successful meme coins of all time, potentially surpassing both Shiba Inu and the Elon Musk–endorsed Dogecoin. It also aspires to someday rival 

 itself as the most popular and famous cryptocurrency. 

Unlike with other entries in the meme coin sector, not a lot of information has been revealed at this time about how Pepe truly works. However, there are a few things that we do know.

First of all, Pepe includes a redistribution system in which a percentage of every transaction is used to reward existing token holders for their participation. In addition, the PEPE coin maintains scarcity (despite a maximum supply of over 420 trillion coins) by burning tokens on a regular basis, as discussed below. 

More generally, the system advertises itself through Twitter and other forums to unite fans of the esteemed meme frog around the token. Its creators have stated their belief that Pepe himself will make this meme coin sustainable, and that the underlying fundamentals are secondary.

The project’s "no taxes" policy means there are no excessive gas fees associated with trading for PEPE coins. All fees are completely minimal for the Pepe meme coin, whose byword is "no taxes, no bullshit." The only reason a user might want or need to be charged these fees would be in the event of high network usage. 

 from the liquidity pool are burned and the underlying contracts are renounced. This 

 measure helps preserve the scarcity of PEPE, and could in fact cause it to increase in value. 

PEPE's road map consists of three portions. The first of these, "Meme,” has already been fulfilled. Coins have been stealth-dropped, memes concerning the coin have been released to Twitter and coins are available for trade on several major exchanges. The coin has also broken its Phase One goal of 1,000 holders.

At present, Phase Two — known as "Vibe and HODL” — is underway, with some portions already completed. This part involves creating community partnerships, a listing on centralized exchanges, and a newsletter and an exclusive Discord channel for token holders. The goal is 10,000 holders, which has also been achieved.

The third phase of the plan involves launching Pepe Tools and Pepe Academy (no details have yet been given about either at this time), listing on Tier One exchanges, and the release of merchandise that participates in the "buy and burn" system. The Phase Three goal is to reach 100,000 holders and eventually overtake Bitcoin itself for market dominance.

PEPE — written in all caps to distinguish itself from the infamous Pepe meme itself — is the native token of the forthcoming Pepe Network. The PEPE coin can be used as a souvenir, given as a gift or held as an investment in hopes that its price will increase. 

In keeping with Pepe's emphasis on memes, the token has a maximum supply of 42.069 billion coins. This cap was chosen as it humorously incorporates "420," which memers refer to as "the weed number," and 69, which they refer to as "the sex number.” 

Unlike some other coins, of which a large portion went to early investors or development teams, 93.1% of Pepe tokens were distributed to the Liquidity Pool and 6.9% to a 

 held by the development team that’s been reserved for future exchanges, community partnerships, promotions and similar uses. 

Unlike most other forms of crypto (and even other entries in this sector), the PEPE meme coin is rather light on fundamentals. Since the first week of its debut, its focus has been on the existence of the coin itself, rather than on making sure its underlying fundamentals are sound. 

If you wish to trade PEPE, you can do so on crypto exchanges such as Bybit. Simply 

, fund it with cryptocurrency and navigate to the 

On one hand, PEPE's official website states that it shouldn’t be taken as an investment opportunity, and has simply been created as a meme coin with comedy in mind. On the other hand, it’s skyrocketed in price since it was released — and many early investors have already turned a significant profit. 

The PEPE coin burst onto the scene on Apr 18, 2023, at an initial price of $0.000000064982. By Apr 19, the price had risen to $0.000000325269, and PEPE hit its first all-time high of $0.000000399788 on Apr 20, 2023. PEPE continued to gain traction, eventually hitting another ATH of $0.00000431 on May 5, 2023, due also to its listing on various major crypto exchanges. Following this high, PEPE’s price consistently dropped over the weeks, stabilizing at around $0.0000008 by mid-June. 

However, the price of the PEPE token soon experienced a revival, gaining 20% since the trough on Jun 9 and resuming its uptrend. This surge corresponded with that in Bitcoin’s price from $26,000 to $30,000. 

PEPE’s market value has shown considerable potential after a period of stagnation, relying heavily on investor interest. Despite rising nearly 3,254% from its historical low of $0.000000055142 on Apr 18, 2023, it remains down by a remarkable 57% from its May 5, 2023 high of $0.00000431. 

As of Jul 4, 2023, PEPE is trading at $0.00000183, propelled by a daily 15.1% rise and a 24-hour trading volume up by 269.1%, suggesting growing trader curiosity. Maintaining this upward thrust could drive PEPE beyond its current uptrend, securing further gains for investors.

Nonetheless, considerable selling pressure at the $0.0000010 level poses a threat to PEPE’s upward progression. Data from 

 identifies this as a critical congestion zone, with more than 18,000 addresses holding roughly 71.7 trillion PEPE tokens, purchased at an average price of $0.0000010. If selling pressure intensifies, it could refute the current bullish perspective.

Granted, other meme coins have proven to be even more volatile than other forms of crypto, and there’s no guarantee that PEPE's price will continue to increase. However, with the constantly growing number of token holders (127,000 at the time of this writing), it appears very likely that Pepe is here to stay. 

Although the PEPE meme coin wasn’t intended by its creators to be a serious offering, its early success has been undeniable. Since the infamous Pepe meme is still holding strong after 18 years, it’s logical that a meme coin paying homage to it would also be successful. Although it isn't possible to see into the future, it seems very likely that PEPE will have more staying power than most other meme coins.

Pepe (PEPE): Latest Meme Coin to Compete With DOGE & SHIB

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