This means that a portion of every transaction gets distributed to already existing token holders. In addition to all of these, Pepe Coin also employs a redistribution system. And this scarcity can ensure in increasing the coin’s value as well, which further makes it more appealing to investors. This means that each transaction burns a tiny percentage of the tokens, which further reduces the total supply over a certain period of time. It also enables compatibility with several decentralised applications (dApps) and wallets.Īnother benefit of the token is that it has a deflationary mechanism. Pepe Coin is an ERC20 token which was built on the Ethereum blockchain, which means it can generally be considered as reliable and secure. And the design of the token is on similar lines to the green iconic frog of the meme.ĪLSO READ: Cryptocurrency Price Today: Bitcoin Dips Below $28,000 As Top Coins See Bloodbath What Are The Benefits Of Pepe Coin? For instance, nobody actually knows about the founder of the world's first cryptocurrency Bitcoin.Īs explained above, the token was inspired by a very popular “Pepe the Frog” memecoin in 2010. Interestingly, the creators would like to remain anonymous, which is not a new thing in the crypto industry. It also had a burnt liquidity pool as it was trying to position itself as a people’s coin. The memecoin made its debut on April 16 this year, without any presale and promises of zero taxes. Pepe Coin was deployed and founded by an anonymous user. These contributed about 6.9 per cent of the supply to remain in a multi-signature wallet for the purpose of future exchange listings, bridges, and liquidity pools. But over 93.1 per cent of these have already been sent to the liquidity pool.
The token has a circulation supply of over 420 trillion coins, as per Datawallet. Its aim is to surpass the other memecoins such as DOGE and SHIBA. Pepe coin is a memecoin inspired by the “Pepe the Frog” meme by artist Matt Furie. In case you were wondering what PEPE actually is, who founded it, and why it is seeing a slump in prices suddenly, read on to find out. Pepe, which still has a market capitalisation of more than $1 billion, saw a 24-hour loss of over 23 per cent on the CoinMarketCap at the time of writing.
After the recent listing of the new memecoin Pepe (PEPE) on Binance, the token started witnessing massive losses, despite crypto gurus expecting a rally.
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