Within two weeks of PEPE’s launch in mid-April 2022, the memecoin stormed its way into the top 100 cryptocurrencies by market capitalization, amassing an impressively high valuation exceeding $400 million. But how exactly did an unknown token based around an internet frog meme gain such instant popularity and investor attention? Does PEPE have the fundamentals to suggest lasting value, or is this another case of viral hype pumping up a speculative asset? Here’s what you should know before you buy PEPE.
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What is PEPE? An overview
Pepe is a memecoin, devoid of foundational value or tangible utility. It proudly wears the badge of the most “meme-worthy” memecoin, operating as an ERC token on the Ethereum blockchain.
There’s no structured team behind the PEPE nor a strategic roadmap. Its inception was more of a casual nod to the internet’s beloved meme icon, “PEPE the Frog,” which became a cultural phenomenon in the early 2000s.
Surprisingly, despite its lack of foundational backing, PEPE swiftly climbed the ranks, securing a spot in the top 100 cryptocurrencies by market cap within a mere fortnight of its debut. It has slid down the ranks slightly since and, as of October 2023, ranks 104th in terms of market cap.
PEPE’s official stance, as stated on its website, is clear: “PEPE is purely a meme coin, devoid of inherent value or prospects of financial gains. It’s a team-less venture with no roadmap, purely for amusement.”
“Pepe is here to make memecoins great again. Launched stealth with no presale, zero taxes, LP burnt and contract renounced, $PEPE is a coin for the people, forever. Fueled by pure memetic power, let $PEPE show you the way.”– an except form the official Pepe website
Yet, its design seems to tap into the memecoin frenzy, reminiscent of the likes of dogecoin and shiba inu. The primary distinction is that while the others draw inspiration from canines, PEPE is all about the amphibian charm.
One of PEPE’s noteworthy features is its deflationary approach. With each transaction, a fraction of the tokens are eliminated, fostering scarcity and potentially enhancing the value of the remaining tokens over time.
Additionally, it uses a redistribution model. A slice of every transaction is distributed among its current token holders, encouraging community engagement and sustained investment.
Why did so many people buy PEPE?
While we have mentioned PEPE’s remarkable price trajectory right after launch, it’s worth revisiting the key ingredients in this memecoin mania:
Historically, memecoins have delivered eye-popping returns overnight, and PEPE was no different. Its popularity exploded within days of launch.
Although meme tokens often lack real-world utility, their viral nature and marketing hype can lead to major price spikes, as seen with dogecoin. Pepe quickly cemented its status as a recognizable crypto asset by piggybacking on the familiar Pepe meme.
As pepe’s value climbed, FOMO (fear of missing out) kicked in for many investors. This sentiment fueled a staggering 400,000% price increase in mere weeks after its debut.
Revival of the market
From late 2021 into 2022, meme tokens saw volatile price swings. With bitcoin treading water, the broader crypto market struggled to generate returns.
But as flagship cryptocurrencies began rallying, fresh capital once again flowed into the crypto sphere. Memecoins like PEPE were viewed as high-upside plays in this environment. By early 2023, the resurgence of bitcoin and ethereum signaled renewed enthusiasm in crypto overall. In the following months, Pepecoin emerged as a leading memecoin.
Where to buy PEPE
Here are five of the most popular crypto exchanges that currently list PEPE as of Oct 2023. With its unrivaled trading volume and liquidity, Binance stands out as the leader of the pack. However, KuCoin, Gate.io, and OKX also offer popular PEPE trading pairs and fee structures on par with Binance. For users prioritizing decentralization and privacy, UniSwap facilitates PEPE swaps without an intermediary through its DEX platform. The trade-off is that UniSwap’s fees tend to exceed those of the centralized exchanges.
Note that all trading pairs, volumes, and fees listed below are as of mid-Oct 2023.
- Trading pairs: PEPE/USDT, PEPE/TUSD, PEPE/TRY
- Trading volume: Over $9M (24h)
- Fees: 0.1% maker, 0.1% taker
Buying PEPE on Binance was marked by the platform’s exceptional liquidity, which is a significant advantage for executing trades quickly and efficiently. The diverse range of trading tools available on Binance allowed us to adopt various strategies for PEPE, from spot trading to more advanced options. We particularly valued the intuitive nature of the Binance interface, which streamlined our trading process, and the mobile app proved essential for keeping track of our trades on the go. You can also buy PEPE with a credit card on Binance.
- Trading pairs: PEPE/USDT,
- Trading volume: Over $1M (24h)
- Fees: 0.1% maker, 0.1% taker
KuCoin is a popular cryptocurrency exchange that offers a wide range of trading pairs, including PEPE/USDT. Same 0.1% maker/taker fee structure as Binance. The platform offered a smooth experience for our PEPE trades, with its wide selection of altcoins and user-friendly interface standing out. The platform’s trading features, including margin and futures options for PEPE, provided us with the flexibility to explore different trading strategies.
- Trading pair: PEPE/WETH, PEPE/LOVE, PEPE/USDC, and more
- Trading volume: Over $2M (24h)
- Fees: Variable
Uniswap is a decentralized exchange (DEX) that allows users to trade cryptocurrencies without the need for a central intermediary. The platform’s liquidity pools for PEPE enabled us to engage in direct token swaps with ease, a feature particularly appreciated for its simplicity and direct approach to trading. Uniswap’s interface, while more suited to those familiar with decentralized exchanges, was efficient once you navigate its nuances. However, Uniswap fees can be higher than centralized exchanges, especially for small trades.
- Trading pairs: PEPE/USDT, PEPE/USDC, PEPE/TRY
- Trading volume: Over $2M (24h)
- Fees: 0.1% maker, 0.2% taker
Gate.io is a popular cryptocurrency exchange that offers a wide range of trading pairs, including PEPE/USDT and PEPE/USDC. It also has competitive fees and a high level of liquidity. Our experience with Gate.io for trading PEPE was positive, particularly due to the platform’s wide range of available cryptocurrencies and its robust security measures. The trading interface was user-friendly, facilitating easy access to PEPE markets, and we found additional features like margin trading beneficial for advanced trading strategies.
- Trading pairs: PEPE/USDT
- Trading volume: Over $6M (24h)
- Fees: 0.1% maker, 0.1% taker
OKX is a popular cryptocurrency exchange that offers a wide range of trading pairs, including PEPE/USDT. Standard 0.1% maker/taker fees. It provides a comprehensive trading environment for PEPE, with a broad spectrum of trading options available. The platform’s liquidity ensured our PEPE trades were executed swiftly, a critical aspect of effective trading. We also liked OKX’s balance of advanced features with an accessible user interface, which catered well to our expectations.
How to buy PEPE
If you are wondering how to invest in PEPE, it’s as straightforward as buying any other cryptocurrency — especially considering that several centralized and decentralized exchanges have listed it. Here’s a general overview of the process:
Step 1: Select a trustworthy exchange
With countless cryptocurrency exchanges to choose from, do your homework to pick one that’s secure, reputable, and charges reasonable fees. We are using Binance to demonstrate the procedure, but you can choose any other exchange you may prefer. Just ensure that the exchange supports trading between PEPE and the currency you want to deposit.
Step 2: Create an account and deposit funds
Once registered, deposit money into your account via bank transfer for fiat currency or by sending crypto from your existing crypto wallet. Follow the exchange’s procedures for linking your bank or transferring cryptocurrency. Note that you may need to undergo a mandatory KYC verification process before being able to deposit funds.
Step 3: Buy PEPE
Using the exchange’s trading interface, enter the amount you want to purchase and the bid price. The platform will match you with a seller. Upon completing the trade, the PEPE will enter your exchange wallet.
Step 4: Withdraw to your wallet
To securely store your newly bought PEPE, withdraw it to your compatible crypto wallet. Simply input the withdrawal amount and your wallet address. For example, Exodus users can find their PEPE wallet address by opening the Exodus app, searching for PEPE, and tapping the “Receive” button (downward arrow icon). This will display the PEPE wallet address to copy for withdrawals.
The exchange will transfer the PEPE from the exchange wallet to yours.
How to buy PEPE with a credit card
To buy PEPE with a credit card, simply follow these steps:
- Choose a crypto exchange: Select an exchange that lists PEPE, such as Binance.
- Account creation and verification: If you’re new, create an account on the exchange and verify your identity. Existing users can log in.
- Start the purchase process: Navigate to the “Buy Crypto” section on the exchange.
- Configure purchase settings: Select your fiat currency (e.g., USD) as the payment method and choose PEPE as the token you want to receive.
- Enter credit card details: Follow the instructions to input your credit card information.
- Finalize the transaction: Complete your purchase by following the exchange’s prompts.
Apart from credit cards, PEPE can also be bought using Apple Pay, Google Pay, bank transfers, debit cards, or by swapping other cryptocurrencies.
Best PEPE wallets
Choosing the best PEPE wallet depends on your needs and preferences. Here are some top options:
- Zengo Wallet: Known for its advanced security features like MPC security and 3FA, Zengo is a great choice for a secure hot wallet.
- OKX Wallet: Versatile web3 wallet ideal for managing a broad range of web3 services, including GameFi, DeFi, NFTs, and more. It also supports trading and passive income generation.
- Ledger Wallets:
- SafePal: Offers both hardware wallets (S1 and X1) and a hot wallet app. The hardware wallets provide secure offline storage and can be integrated with the SafePal app for enhanced security.
- Coinbase Wallet: User-friendly and ideal for beginners, this hot wallet is a good starting point for those new to crypto.
Should you buy into the PEPE hype?
For some lucky investors, PEPE has already been wildly profitable. Meanwhile, those who bought at or near the peak will be less pleased as the memecoin has shed substantial value since its exponential growth in May.
Others are curious if the memecoin still has room left to run. With a sizable number of holders, trade volume, and social media buzz, PEPE loyalists are optimistic that the asset retains significant upside potential for another bull run.
However, pepe currently exhibits split sentiment. As with other meme-led currencies, PEPE lacks robust fundamentals and intrinsic value. Many feared this rally was living on borrowed time before regressing to the mean. No one knew exactly how long this surge could continue before bears took over. As of Oct. 2023, that seems to be precisely the case as the PEPE price is down, and the initial buzz surrounding the asset has subsided considerably.
While PEPE has already enriched early adopters, its long-term trajectory remains uncertain. This capricious memecoin could catapult higher just as easily as it could nosedive, characteristic of the crypto market’s unpredictable nature. Investors should weigh the risks and fleeting fortunes of meme mania before buying PEPE.
Is PEPE a good investment for you?
The key factors that drive a crypto’s price include the adoption of its network, investor sentiment, utility, competition, the overall crypto market, and basic supply and demand. The price could rise further if more people adopt pepe against a limited token supply. However, you should carefully consider whether or not the demographic trends are looking favorable for its price, particularly as PEPE is a memecoin without any utility or roadmap.
Frequently asked questions
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Is Pepe in Binance?
Top crypto platforms in the US | December 2023
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