PEPE Coin is an Ethereum-based meme cryptocurrency launched in April 2023, inspired by the popular internet meme "Pepe the Frog." It features a massive supply of 420.69 trillion tokens, a decentralized token economy, and a purely entertainment-driven purpose. Despite its lack of intrinsic value, PEPE has attracted significant attention due to its explosive price surges, strong community support, and listings on major exchanges.
Understanding PEPE Coin: Origins and Popularity
PEPE Coin emerged from the vibrant culture of internet memes. Pepe the Frog was originally created by artist Matt Furie in 2005 and gained viral status on platforms like Reddit and 4chan. The token leverages this existing popularity, positioning itself as a community-focused project with no utility beyond entertainment.
Within just one month of its launch, PEPE achieved a meteoric rise of over 10,000%, briefly becoming the third-largest meme token by market capitalization, only behind Dogecoin and Shiba Inu. Its success highlights the power of meme culture in the cryptocurrency space.
Key Information About PEPE Coin
| Metric | Details |
|---|---|
| Name | PEPE Coin |
| Token Symbol | $PEPE |
| Market Cap | ~$5.57 Billion |
| Fully Diluted Valuation (FDV) | ~$5.57 Billion |
| Market Rank | #25 (as of May 2025) |
| Category | Meme Token |
| Blockchain | Ethereum |
| Circulating Supply | ~420.68 Trillion PEPE |
| Total Supply | ~420.68 Trillion PEPE |
| Max Supply | ~420.69 Trillion PEPE |
Source: Coinmarketcap (May 2025)
The Story Behind PEPE: From Meme to Crypto Phenomenon
Pepe the Frog started as a character in Matt Furie’s comic "Boy’s Club." The meme went viral due to its absurd humor and was widely shared across social media platforms. Even Elon Musk has referenced Pepe in his tweets, further boosting its visibility.
In 2023, a 26-year-old photographer named Zachary Testa capitalized on this trend by creating PEPE Coin. It’s important to note that the token has no official affiliation with Matt Furie.
Key Features of PEPE Coin
Deliberate Token Supply
PEPE’s total supply is set at 420,690,000,000,000 tokens—a nod to cannabis culture slang—emphasizing its playful and nonsensical nature.
Decentralized Tokenomics
At launch, 93.1% of the tokens were allocated to Uniswap liquidity pools. The remaining 6.9% was reserved for exchange listings and cross-chain bridging.
Purely for Entertainment
The developers explicitly state that PEPE has no intrinsic value or utility. It is meant solely for entertainment and community engagement.
Risks Associated with PEPE Coin
Like most meme tokens, PEPE lacks fundamental value and is highly volatile. Its price is largely driven by market sentiment and social media trends rather than utility or adoption.
For example, in May 2023, a single tweet from Elon Musk caused PEPE’s price to surge by 16% within hours. Such sensitivity makes it a high-risk, high-reward asset.
Controversies Surrounding PEPE Coin
In August 2023, the PEPE community raised concerns when the multisignature wallet rules were changed from 5/8 to 2/8, reducing the number of required signatories for transactions. This was perceived as a red flag, potentially indicating a hack or an exit scam.
Shortly after, over 16 trillion PEPE tokens (worth ~$15.5 million) were transferred to exchange wallets, likely for selling. This caused a 20% price drop and widespread panic. The team later claimed that three former members had compromised the wallet and stolen the funds. They promised to secure the remaining tokens in a new wallet, but skepticism remains within the community.
PEPE Coin Price Performance
- April 2023: PEPE launched and experienced rapid growth.
- May 5, 2023: Listed on Binance, price surged 130% to a then-all-time high of $0.0000046.
- February 2024: PEPE rose 7x in 20 days amid a bullish market.
- November 13, 2024: Listed on Coinbase, price increased 70% to a new all-time high of $0.000027.
May 2025: ETH Upgrade and Market Recovery
In May 2025, Ethereum’s Pectra upgrade went live, introducing EIP-7702 and enhancing Layer 2 performance. ETH’s price rebounded to $2,509.38, a 74% year-to-date increase.
PEPE benefited from this bullish momentum, rallying 176% from a low of $0.00000525 to above $0.000014. This demonstrates its sensitivity to Ethereum’s ecosystem developments and its potential during market recoveries.
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Future Outlook for PEPE Coin
- Strong Community Backing: PEPE’s active community is a major driver of its popularity.
- Market Hype: As a leading meme token, it attracts speculative investments and media attention.
- Exchange Support: Listings on Coinbase and Robinhood have improved liquidity and accessibility.
- Lack of Utility: The absence of real-world use cases remains a long-term concern.
Note: In Q1 2025, PEPE was added to the Coinbase 50 Index (COIN50), boosting its visibility among institutional investors.
How to Buy PEPE Coin
PEPE is available on most major cryptocurrency exchanges. Here’s a simple three-step process:
- Sign Up: Create an account on a reputable exchange and complete KYC verification.
- Deposit Funds: Use a credit card or bank transfer to buy USDT.
- Trade: Exchange USDT for PEPE tokens.
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Always use well-known platforms to avoid security risks.
Frequently Asked Questions
What is PEPE Coin?
PEPE is a meme cryptocurrency on Ethereum, inspired by the Pepe the Frog internet meme. It has no utility and is primarily used for entertainment.
Is PEPE Coin a good investment?
PEPE is highly volatile and speculative. While it has seen significant gains, it lacks intrinsic value and is influenced by social media trends. Invest only what you can afford to lose.
How does PEPE Coin differ from Dogecoin?
Both are meme tokens, but Dogecoin has broader acceptance and more use cases. PEPE is newer and more community-driven, with a larger token supply.
Can PEPE Coin reach $1?
Given its massive supply of 420 trillion tokens, reaching $1 per token is highly improbable without massive token burns or hyperinflationary scenarios.
What exchanges support PEPE Coin?
PEPE is listed on Binance, OKX, Bybit, Coinbase, Robinhood, and other major platforms.
Who created PEPE Coin?
It was created by Zachary Testa, a photographer, and is not affiliated with Pepe’s original creator, Matt Furie.
Conclusion
PEPE Coin exemplifies the power of internet culture in the cryptocurrency world. While it offers entertainment and community engagement, it remains a high-risk investment due to its volatility and lack of utility. Always conduct thorough research and practice risk management when considering meme tokens.