What is PEPE Coin? Definition And Functioning Explained

• Pepe coin touched 1 Billion market cap within months of its listing.
• The official website of the Pepe coin claims that it has no intrinsic value.

Pepe is a meme coin that is based on the famous meme of Pepe the Frog. Currently, the founders of Pepe are anonymous. Very few people know that the Internet is a must for the proper working of the organization. This coin was launched recently in April 2023, but it very quickly became one of the top 50 traded cryptocurrencies.

The most interesting thing about Pepe coin is that its official website claims that Pepe has no intrinsic value. It’s just for entertainment purposes only, and investors should not expect any financial returns from it, apart from all these claims PePe coin was boosted as soon as it was listed in the market. Within a few months, it became a top 50 cryptocurrency in the market. 

Who are the Founders of PePe Coin

The founders of this meme coin are still anonymous. There is very scarce information on the Internet about the real founders of this cryptocurrency. Apart from very little information, the team behind PePe coin is highly active and has successfully established an online presence. Currently, the Official Twitter account of PePe coin has 27.7K Followers, and they regularly post memes to promote it. The community of PePe coins is also very large and supportive.

How Does The PePe Coin Works

The special thing about PePe Coin is that it is a deflationary cryptocurrency, which means that its price will increase as the supply of the cryptocurrency contracts. Currently, it has a supply of 391,790,000,000,000 PEPE, while at the time of its launch, it was launched with 420,690,000,000,000 PEPE Coin, which is also the maximum supply. What actually happens is that every time a user performs transactions, some tokens will be burnt.

 Burning tokens will create a scarcity of supply in the market, and the price of the cryptocurrency will rise. This is how people burn. But this whole supply of Pepe coins is not available for exchange 93.1% of the supply is in the liquidity pool, while the remaining 6.9% of them is in the multi-signature wallet for future use. 

The pepe coin follows a unique redistribution system. In this system, it rewards the users who hold the cryptocurrency. It rewards them by incentivizing the users. This is done in order to maintain the scarcity of the coins. Because if scarcity is there, then the price of the coin will constantly increase. The Pepe coin is based on the Ethereum blockchain and works according to its ERC – 20 Token standards. The Pepe coin appeals to the community by its premier features called the Redistributive rewarding system, The burning mechanism, and maintaining the scarcity of the currency.

PePe Coin’s Roadmap

The Pepe coin has already achieved a lot of milestones. It has recently surpassed 1,00,000 holders, and many exchanges like Coinbase and by bit have already listed it. So it has basically completed its Plan 1 and Plan 2. The future plan of the community is to launch its own merchandise. They will also launch the Pepe academy and Pepe tools, which will further solidify the presence of the Pepe coin in the memecoin landscape.