This article explores meme coin Pepe (PEPE) and its impact on the cryptocurrency market in 2023.
Overview: What is Pepe?
Pepe is a meme-based cryptocurrency inspired by the internet character Pepe the Frog, launched in April 2023. It quickly garnered attention due to social media activity and meme culture. The founder of Pepe initially remained unknown until it was revealed that landscape photographer Zachary Testa was behind the token. Within a few weeks of launching, PEPE was listed on major exchanges like Binance and reached a market cap of over $1 billion.
Pepe Compared to Other Popular Meme Coins
Pepe is frequently mentioned alongside Dogecoin, Shiba Inu, and Floki. Each of these cryptocurrencies offers unique opportunities.
* Dogecoin has been known since 2013 and is used for online tipping. * Shiba Inu, launched in 2020, features its own DeFi ecosystem and metaverse. * Pepe lacks any additional features or development, putting it at a disadvantage compared to other meme coins that provide users with additional benefits.
Pepe Tokenomics
The token supply of Pepe is 420 trillion, which significantly exceeds that of many other cryptocurrencies. This implies that the token price is likely to remain low, and significant amounts need to be bought or burned for the value to increase. Despite having a regular burn system, achieving price growth is still a complex process. Price forecasts for Pepe indicate some growth potential, but this is mainly dependent on market dynamics.
Pepe continues to hold popularity among meme culture enthusiasts; however, newer meme coins with functionalities and growth tools are also becoming part of investors' conversations.
