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PEPE’s distinct burning mechanism is the project’s unique aspect that strives to maintain the coin’s scarcity in the face of its colossal maximum supply. A portion of the crypto’s total tokens gets permanently removed from the circulating supply on a regular basis. According to the project’s official website, 93.1% of the token’s total supply was sent to a liquidity pool, where LP tokens (liquidity provider) were burnt. Those 6.9% remaining PEPE tokens will be used for future listings, bridges, and liquidity pools. With the meteoric rise of PEPE in the crypto trading landscape, there is much speculation on its future prospects. While some believe that memecoins are a significant component of cryptocurrency trading, there are others who are skeptical of their longevity.
Top 5 crypto tokens that connect blockchain with real world assets. As of now, CoinGecko ranks Pepe at #61 with a market cap of 1,160,223,236 USD. They’ve been around since the very early days of the Web and there is nothing to indicate that they’ll disappear any time soon.
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In the past, anonymous creators of virally popular crypto projects have stolen their users funds via rug pulls. A what is hbar leading example of this was the Squid (SQUID) token scam in 2021. Piggybacking off the success of the popular Netflix show, Squid Game, the token, which wasn’t connected to the show, rose 35,000% in three days.
Within months, it registered price increases of over 15,000% and overtook popular dog coins like DOGE and Shiba Inu in gains. PEPE is an ERC-20 token on the Ethereum blockchain, with a maximum supply of 420,690,000,000 tokens. The team states on the official website that Pepe Coin is a 100% decentralised and 0% tax meme token, and 100% of its liquidity is burned. Since the meme coin space is typically for entertainment purposes and carry no intrinsic value or utility, many wonder whether the Pepe Coin will reach $1? Various Pepe Coin price predictions suggest that this won’t happen for years, but some believe that with the right strategy and dedication, Pepe Coin could eventually reach the dollar mark.
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- PEPE Coin uses a deflationary mechanism in which a small percentage of tokens gets burnt with each transaction.
- Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes.
- Due to the power of social media platforms such as Telegram and X, Pepe Coin gained popularity rapidly.
- Due to the redistribution system, a fraction of each transaction fee is distributed among existing token holders to enhance community participation.
Elon Musk recently tweeted a Pepe meme, sparking wild speculation around Pepe Coin (PEPE) and his potential interest in the token. This tweet led to a significant increase in PEPE’s trading volume and a noticeable surge in its price, demonstrating Musk’s influence 10 top cloud security companies on the cryptocurrency market. Just like the name suggests, a memecoin is a cryptocurrency that originated from a meme.
This meme coin experienced a rapid rise in 2023 and managed to gather a broad community of supporters. PEPE hopes to utilize the does day trading binance apply to cardano does day trading apply to crypto viral appeal of memecoins to provide great potential for investment and growth. Overall, these figures indicate that while Pepe has experienced a recent dip in value, the cryptocurrency continues to generate significant trading volumes and attention in the larger crypto community.
Pepe Coin Tokenomics
As a result, Ethereum’s network of proof-of-stake validators process PEPE Coin transactions. Once registered, you can charge your account via bank transfer, Apple Pay, or credit/debit card payment. While bank transfers might take 1-3 business days to process, Apple Pay and credit card payments are processed within seconds and ready to use for your first PEPE purchase.
Moreover, PEPE is a fairly new project with almost negligible price history for reference, therefore it might be risky to put your hard money into it. Still, if anyone really wishes to invest in crypto coins then it is better to go for mainstream coins such as Bitcoin and Ethereum, which should only constitute 5% of your total financial portfolio. PEPE Coin uses a deflationary mechanism in which a small percentage of tokens gets burnt with each transaction. This mechanism helps to create scarcity and also increase the value of the left tokens over a period of time.
Memecoins typically use easily recognizable symbols, figures, and images, like Doge –– or Pepe the frog. The better the chosen symbol, the higher the project’s chances of success. Even in the oversaturated meme coin market, there still appear new heroes that take the industry by storm. Pepe coin, named (and branded) after the famous frog meme, is one of such standout projects.
When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility. While the official Pepe Coin website says that the token has no intrinsic value or expectation of financial return, the number of holders continues to be impressive. Someone responded on Pepe Coin’s official X account by posting a thorough explanation for these mysterious transactions.
