In early 2024, PEPE Coin has been one of the major meme coins alongside Dogecoin and Shiba Inu. The coin was launched in April 2023, and within a year, it reached $3 billion in value. Basically, it comes with a no-tax policy and deflationary features. This article will show you how to buy Pepe Coin and will inform you whether it is a good investment for you in 2024 or not.
In this article, you will learn about the Pepe coin in general and understand how it works. Furthermore, this article will also point out the major benefits of buying Pepe coins for an investor. Moreover, you can also find out whether this meme coin is a good investment for you in 2024 or not. Hence, to learn more about the Pepe coin, read on to the end of the article.
What is PEPE Coin? – A General Overview
The Pepe coin is based on the “Pepe the Frog” meme from the “Boy’s Club” comic book. It is also a token of the Ethereum platform and wants to increase its market cap with time.
According to the Forbes Advisor, “PEPE coin has gathered support from its meme fans who view it as a comical addition to the crypto world as a meme coin. It is considered as the most “memeable” coin built on the blockchain of Ethereum and functions as an ERC token. Just like any other meme coin, PEPE coin does not hold any basic and built-in value and doesn’t have any specific use currently.”
One of the major aspects of the Pepe coin is that it has a deflationary nature and comes with a non-tax policy. By doing so, it is aiming to become one of the popular meme coins in the cryptocurrency space.
Furthermore, in current times, the growth of Pepe coins has been positive, which makes it an attractive option for traders and investors. Apart from that, it is also an excellent option for those who monitor market fluctuations and sentiments before investing.
However, the creators of Pepe Coin are unknown, while it is a deflationary meme coin based on the Ethereum blockchain. The main focus of Pepe Coin is to increase its market cap during the “memecoin season” as it wants to make a name for itself in the meme culture.
How Does PEPE Coin Work?
According to Binance, “The PEPE coin is a meme coin built upon the legacy of Pepe the Frog, a popular internet character. The cryptocurrency draws on the lighthearted and humorous nature of the meme to create a unique and engaging digital asset. Built on the Ethereum blockchain, the project seeks to leverage the success of meme coins, such as Shiba Inu and Dogecoin, and aims to become a leading meme-based cryptocurrency.”
Here, PEPE attracts the crypto community by implementing a no-tax policy and a burning mechanism. Furthermore, it has a redistribution system that is beneficial for long-term stakes. The burning mechanism of the coin helps it to preserve the scarcity of PEPE coins with time.
Additionally, the official website of Pepe Coin, “PEPE.VIP,” is also the hub of the supporters of PEPE. Here, on the official website, users are able to access digital collectibles and trade them through the platform. Generally, the platform consists of rare digital art and memes, which help in improving the value of the digital asset.
If you want to learn about the current price of PEPE, you can find out in top crypto exchanges like Ethereum, Binance, etc.
You already know that the PEPE coin is an ERC-20 token based on the Ethereum blockchain. Also, it has a maximum supply of 420,690 million tokens. The developer team of the Pepe coin states that the coin runs on a fully decentralized storage system. Furthermore, it comes with a no-tax policy and has 100% liquidity after the burn process.
What are the Major Features of the PEPE Coin?
Techopedia explains – “Since this cryptocurrency offers no real value to the investor, the token has only one main goal. Pepe Coin wants to replace the popular meme and doge tokens such as Shiba Inu (SHIB) and Dogecoin (DOGE). While the price faltered in mid-2023, the crypto is reaching new heights in this current meme coin price surge. […] As seen with many meme tokens, the price tends to correct after receiving huge returns.”
“No devs, just community!” – The developer team of PEPE states that the goal of this crypto coin is not to achieve technological breakthroughs. Rather, it wants to be successful as a meme project in the memecoin community.
Like other meme coins, PEPE also does not have any basic or built-in value to it. Furthermore, it also does not have any current use. Here, the question arises whether the coin has any practical usage to it or not. – The answer is Yes. This is because you can use PEPE as a potential medium of exchange for products and services in a decentralized ecosystem.
To ensure a safe and transparent transaction, PEPE makes use of smart contracts on the blockchain. However, it does not have a future roadmap for the formal team. It only created a meme of “PEPE the Frog.”
Basically, there are three phases of Pepe Coin:
- Listing the coin on CoinMarketCap and ensuring that $PEPE is trending on X (for merely Twitter).
- Ensure the listing of centralized exchanges (CEXs) and make the coin available to all types of assets in the crypto market.
- Listing on “Tier 1” exchanges and working towards a “meme takeover.”
What are the Success Factors of PEPE Coin?
One of the major reasons why PEPE is successful is because, like many popular memes, it is engaging in nature.
According to Crypto.com, “These coins are designed to capture the attention of enthusiastic online communities, often drawing inspiration from characters, individuals, animals, or artwork that can be mimicked — in the case of WIF, a picture of a puppy with a hat that kicked off a trend of cats, frogs, and people with the same knitted pink hat.”
The following are some of the major aspects of PEPE that make it successful and will also benefit you in the long term:
Funny Nature
Due to its funny nature and the appealing aspect of meme coins, PEPE caters to a wider audience, especially younger retailers. Furthermore, the entry cost of the PEPE coin is also low, and it also comes with the potential for larger gains in the future. Such factors make the coin attractive to many despite the fact that meme coins are highly volatile and depend on speculation.
It Reinvents Itself with Time
The PEPE platform knows how to make the most of time and opportunity. That is why it has been successful within a short span of time. However, last year, in August, PEPE faced a loss of $15 million. Nevertheless, the team grew with time and separated from the bad players. Apart from that, the team also updated its internal security settings. As a result, there has been a rise in the value of the token.
Simple to Understand
One of the major advantages of PEPE is that, like Dogecoin, the crypto is simple to understand. The best thing about the coin is that it does not pretend to be anything else other than that. Here, the token of the popular frog has been used in memes quite often.
Hence, it helps traders and crypto enthusiasts to gravitate towards what they already know and understand. Before, the meme coin was dominated by a dog. However, in recent times, the popularity of the frog is increasing.
What are the Major Benefits of the PEPE Coin?
The following are some of the major advantages of PEPE coin that you will benefit from:
- Since PEPE Coin is an ERC-20 token on the Ethereum platform, it is considered to be trustworthy. This factor makes PEPE a secure meme coin.
- It is compatible with several wallets and dApps.
- PEPE also comes with a deflationary mechanism. This acts as an added advantage for the investors. Here, the mechanism burns a small section of the tokens with each transaction. This reduces the quantity of the coin slowly. This scarcity factor makes it more desirable among investors.
- The coin also makes use of a redistribution system. As a result, the existing holders of the coin receive a part of every transaction they do.
- The platform also incentivizes holding of the coin and long-term investment plans.
- There is a higher emphasis on community development and engagement. This makes the platform interactive on various social media channels.
- PEPE coin is dedicated to its users and holders and focuses a lot on community development.
Risk Factors of the PEPE Coin
The following are some of the major factors that are contributing to the risk of PEPE Coin as a meme coin for the future:
- There is widespread availability of the coin in addition to low demand and vast supply. Although the coin is popular, it has comparatively low demand and easy accessibility. In general, the demand for the coin influences its price a lot. As a result, this leads to limited growth for the coin as there is easy accessibility.
- Meme coins are popular in many places, and new coins are constantly emerging. This is leading to changing trends. As new cryptocurrencies are emerging with time, there is a high possibility that people might shift their attention away from PEPE. This will lead to a deterioration in prices.
- PEPE coin gained popularity within a short span of time, and it grew in size within one year. This is typical with most meme coins, and hence it raises many concerns about the volatility of coins. Hence, before you consider investing in meme coins like PEPE, consider researching the coin.
How to Buy PEPE Coin? – Steps to Follow
According to Techopedia, “Pepe Coin’s availability on multiple cryptocurrency exchanges can help make it a more profitable investment. As of now, Pepe Coin is available to buy on most of the top crypto exchanges, including KuCoin, Huobi Global, and OKX, as well as dozens of decentralized exchanges. The token has also been listed on Binance, one of the largest cryptocurrency exchanges in the world.”
The following are the steps you need to take if you want to buy PEPE:
1. Start by Selecting a Crypto Exchange
PEPE is available in a variety of crypto exchanges. All you need to do is to choose a crypto coin. Generally, you can trade PEPE on the most popular centralized exchanges like Binance, KuCoin, OKX, Houbi Global or through a decentralized exchange. Choose an exchange based on your investment needs and requirements.
2. Create a New Account
Download a crypto wallet on your phone. You can also find a desktop version of the wallet. Here, you need to register in the wallet and go through the KYC process. However, if you are buying from a centralized exchange, you will not need to do this.
In the wallet, you need to choose your security settings and set up the app for transactions of crypto coins.
3. Buy Stablecoin USDT
If you want to purchase PEPE coin, you need to buy stablecoin Tether (USDT) in your account. This process is also the same for Centralized Exchange accounts. Once you buy USDT, it will take a few minutes to process the transaction. Eventually, the transaction will show up on your dashboard.
4. Search for PEPE Coin
Once you have USDT in your crypto wallet, you need to select the “Convert” button on the dashboard which will be redirected to the built-in decentralized exchange of the wallet.
5. Buy PEPE Coin
On the wallet, you will need to go to the search section and find USDT. Then, select USDT and go to the box where it is written ‘Select a token.’ Now, you need to search for PEPE in the select section. Thereby, go to the amount section to convert USDT to PEPE. This will complete the transaction. Now, all you need to do is wait for the token to appear in your wallet.
Wrapping Up
Hope this article was helpful for you to get a better idea of how to buy PEPE coin. However, before you buy this coin, make sure to consider your long-term goals and research the current status of the coin. This way, you can ensure that you made a good investment for the future.
Do you have more information to add about PEPE coins? Consider sharing your ideas and opinions in the comment section below.
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