PEPE (ETH)

Tags: memecoin, pepe

PEPE (Memecoin)

Key Points

PEPE is a deflationary memecoin on Ethereum, launched in April 2023, inspired by the Pepe the Frog internet meme.
It has no transaction taxes, locked liquidity, and an immutable smart contract, with a maximum supply of 420.69 trillion tokens.
PEPE has a strong community, with over 1.5 million traders, but its X account was compromised in October 2024, raising security concerns.

Overview

PEPE is a community-driven memecoin on the Ethereum blockchain, designed as a tribute to the Pepe the Frog meme created by Matt Furie. Launched in April 2023, it aims to capitalize on the popularity of meme-based cryptocurrencies like Dogecoin and Shiba Inu. PEPE emphasizes simplicity, transparency, and community engagement, with no utility beyond its role as a speculative meme token. It operates on the ERC-20 protocol and is traded on major exchanges like Binance, Coinbase, and Uniswap.

History and Founding

PEPE was launched on April 17, 2023, by an anonymous team, a common practice in the memecoin space. The project gained rapid traction, with its market cap reaching $1.6 billion at its peak in May 2023, driven by the memecoin frenzy. The team has used social media, particularly X (@pepecoineth), to foster a community and promote the token. However, the official X account was compromised in October 2024, prompting warnings to ignore posts until resolved. The project's roadmap includes three phases: listing on CoinMarketCap and trending on social media, centralized exchange listings, and "tier 1" exchange listings with a "meme takeover."

Early Development and Launch

PEPE emerged during a period of heightened interest in memecoins, following the success of Dogecoin and Shiba Inu. The anonymous team announced the project on April 17, 2023, via X, emphasizing its no-tax model and locked liquidity to build trust. Within days, PEPE was listed on Uniswap, with 93.1% of its 420.69 trillion token supply allocated to the liquidity pool, and the liquidity provider (LP) tokens were burnt to prevent rug pulls. The rapid listing on CoinMarketCap and CoinGecko, as well as trending on X, marked Phase 1 of its roadmap, completed within weeks of launch (Pepe Official Website).

Initial Market Surge

PEPE experienced an explosive debut, with its price surging 10,000% in a single day in late April 2023, as reported by CoinGecko. This meteoric rise minted millionaires among early adopters and drew mainstream attention, with coverage from outlets like Forbes and CoinDesk. By May 2023, PEPE’s market cap peaked at $1.6 billion, fueled by speculative trading and social media hype. The token was listed on major centralized exchanges like Binance and Coinbase within a month, completing Phase 2 of its roadmap and solidifying its position as a top memecoin (Binance Announcement).

Controversies and Challenges

In August 2023, PEPE faced a significant controversy when a portion of the team’s multisig wallet, holding 6% of the token supply, unexpectedly transferred $15 million worth of tokens to exchanges. This led to accusations of insider trading and a temporary price drop, with the community labeling it a potential "rug pull." The team later clarified via X that the transfers were for exchange listings and liquidity provision, restoring some trust. The October 2024 X account hack further tested community confidence, with scammers posting fake airdrop links. The team quickly issued warnings via Telegram, emphasizing no official airdrops or staking programs existed (PEPE Telegram).

Community and Cultural Impact

PEPE’s early success was driven by its community, which organized viral campaigns like the #PepeArmy hashtag on X, amassing over 500,000 posts by June 2023. The project collaborated with NFT artists, including RarePepe creators, launching an art contest in July 2023 that airdropped exclusive NFTs to top holders. These initiatives helped PEPE maintain cultural relevance, despite lacking utility. The token’s association with Pepe the Frog sparked debates due to the meme’s controversial history, but the team positioned it as a lighthearted tribute, distancing itself from political connotations (Pepe Official Website).

Key Historical Milestones

April 17, 2023: PEPE launches on Ethereum, with tokens allocated to Uniswap and LP tokens burnt.
April-May 2023: Price surges 10,000% in a day, market cap hits $1.6 billion, and listings on Binance and Coinbase follow.
June 2023: Phase 1 of roadmap completed with CoinMarketCap listing and X trending.
August 2023: Multisig wallet controversy causes price dip; team clarifies intentions.
July 2023: PEPE art contest with RarePepe NFTs strengthens community engagement.
October 2024: X account compromised, leading to scam warnings and community alerts.

Features and Tokenomics

PEPE differentiates itself through its straightforward design and community focus:

No Transaction Taxes: Unlike many memecoins, PEPE has no fees on buying or selling, encouraging trading.
Locked Liquidity: 93.1% of the maximum supply (420,690,000,000,000 tokens) was sent to Uniswap’s liquidity pool, with LP tokens burnt to ensure trust. The deployer contract was sent to a null address.
Immutable Smart Contract: The contract cannot be altered, ensuring security and transparency.
Redistribution System: Long-term stakers are rewarded to promote holding and stabilize the token’s value.
Burning Mechanism: A portion of tokens is periodically burned to maintain scarcity, countering the large supply.
Cross-Chain Bridge: PEPE supports transfers across Ethereum, Binance Smart Chain, and Arbitrum via a bridge powered by LayerZero, reducing transaction fees.

The contract address is 0x6982508145454ce325ddbe47a25d4ec3d2311933.

Market Performance

As of May 2, 2025, PEPE’s price is approximately $0.000008902 USD, with a 24-hour trading volume of $523,201,858.77 USD and a market cap of $3,744,966,231 USD, ranking #28 on CoinMarketCap. It experienced a 10,000% surge in a single day in April 2023, minting millionaires among early holders. However, its price has been volatile, with a 5% decline in the last 7 days, underperforming the broader crypto market. The all-time high was $0.00000289 USD.

Community and Social Presence

PEPE boasts a robust community, with over 30,000 active members and 1.5 million monthly traders. Its Telegram channel and community-run Reddit (r/pepecoineth) are key hubs for engagement. The project has organized events like a $PEPE art contest with RarePepe artists, airdropping NFTs to top holders. However, the October 2024 X account hack highlighted vulnerabilities, with warnings issued to avoid scams involving fake airdrops or wallet connections. PEPE emphasizes no official airdrops, staking, or giveaways to protect users.

Trading and Accessibility

PEPE is available on centralized exchanges like Binance, Coinbase, OKX, and KuCoin, and decentralized platforms like Uniswap. The most active trading pair, PEPE/USDT on OKX, had a 24-hour volume of $24,374,636.26. Users can add PEPE to MetaMask using its contract address. The project’s bridge to Arbitrum and Binance Smart Chain enhances accessibility by lowering fees.

Controversies and Risks

PEPE’s association with Pepe the Frog, a meme with a controversial history, has drawn scrutiny, though the project focuses on its humorous legacy. The anonymous team and lack of utility raise concerns about long-term viability. The X account compromise in October 2024 underscored security risks, and the August 2023 multisig incident fueled distrust. PEPE advises users to double-check links and avoid connecting wallets to unverified sources.

Comparison with Other Memecoins

Unlike Dogecoin or Shiba Inu, PEPE has no transaction taxes and a locked liquidity model, making it more trader-friendly. However, it lacks the utility or ecosystem development of some competitors, relying solely on community hype and meme culture. Its burning mechanism and redistribution system are similar to other memecoins but are designed to maintain scarcity and reward loyalty.

Future Outlook

PEPE’s roadmap focuses on expanding exchange listings and community initiatives like the Pepe Academy and Pepe Tools, though timelines remain unclear. Its success hinges on maintaining community engagement and navigating the volatile memecoin market. The project aims to revive interest in meme tokens but faces competition from newer memecoins and the risk of fading hype.

Key Metrics Table

Metric	Details
Launch Date	April 17, 2023
Blockchain	Ethereum (ERC-20)
Maximum Supply	420,690,000,000,000 PEPE
Circulating Supply	420,689,899,653,544 PEPE
Market Cap (May 2025)	$3,744,966,231 USD

| CoinMarketCap Rank | #28 | | 24-Hour Trading Volume | $523,201,858.77 USD | | All-Time High | $0.00000289 USD |