What is Pepe (PEPE)?
Pepe (PEPE) is a meme cryptocurrency built on Ethereum, inspired by the iconic Pepe the Frog internet meme coin that has been part of internet culture since 2005. Launched in April 2023 with no presale, no team allocation, and no utility beyond its community, PEPE quickly became one of the largest meme coins by market cap, rivaling established tokens like Dogecoin and Shiba Inu.
Key Facts
What is Pepe?
Pepe (PEPE) is an ERC-20 meme coin on Ethereum inspired by the Pepe the Frog internet meme, one of the most recognizable memes in internet history. PEPE launched on April 17, 2023, with a total supply of 420.69 trillion tokens. There was no presale, no team allocation, and no claimed utility — it is a pure meme coin driven by community culture and viral social media momentum.
PEPE's tokenomics are deliberately simple. At launch, 93.1% of the total supply was sent to the Uniswap liquidity pool, and the LP tokens were burned to lock liquidity permanently. The remaining 6.9% was held in a multi-sig wallet designated for centralized exchange listings, cross-chain bridges, and future liquidity needs.
What sets PEPE apart is its cultural significance. The Pepe the Frog meme has been part of internet culture since 2005, spanning countless variations and communities. PEPE the token channels this cultural energy into a tradeable asset, becoming the largest frog-themed meme coin alongside Dogecoin and Shiba Inu in the cryptocurrency market.
Who Created Pepe? A Brief History
The Pepe the Frog Meme
The Pepe the Frog character was created by artist Matt Furie in 2005 for his comic series "Boy's Club." The character became an internet phenomenon, adopted by countless online communities as an expression of emotions ranging from joy to melancholy. The meme spread across social platforms for nearly two decades before being adopted by the crypto community.
The PEPE Token Launch
In April 2023, an anonymous team launched the PEPE token on Ethereum. The launch was deliberately minimalist: no whitepaper, no roadmap, no utility claims. The team simply deployed the token contract, added liquidity on Uniswap, and burned the LP tokens. Within weeks, PEPE went viral on social media, attracting massive trading volume and reaching a market cap of over $1 billion in its first month.
Key Milestones
- • Matt Furie creates Pepe the Frog character in the comic "Boy's Club."
- • PEPE token launches on Ethereum; 93.1% of supply sent to Uniswap with LP tokens burned.
- • PEPE surpasses $1 billion market cap; listed on Binance, OKX, and other major exchanges.
- • Initial hype cools; multi-sig controversy as team members reportedly remove tokens from the multi-sig wallet.
- • PEPE reaches new all-time highs during the meme coin resurgence; becomes the third-largest meme coin by market cap.
Governance
PEPE has no formal governance structure. There are no governance tokens, voting mechanisms, or official development roadmaps. The multi-sig wallet controlling the 6.9% allocation has been a point of community debate, as some original signers were removed and tokens were sold. The project is essentially community-owned in the sense that no single entity can change the token contract.
How Pepe Works
PEPE is a straightforward ERC-20 token on Ethereum with no complex mechanics. Its simplicity is intentional.
ERC-20 on Ethereum
PEPE is a standard ERC-20 token on the Ethereum blockchain. It inherits Ethereum's proof-of-stake security and can be stored in any Ethereum wallet. The token contract is simple and has no special functions beyond standard ERC-20 transfers and approvals. There is no staking, no burning mechanism, and no governance built into the contract.
Locked Liquidity
At launch, 93.1% of the total PEPE supply was paired with ETH in a Uniswap V2 liquidity pool. The LP tokens were then sent to a burn address, permanently locking this liquidity. This means the initial trading pool can never be pulled (a common rug pull technique), providing a baseline level of trust for holders.
Trading and Price Discovery
PEPE trades on both decentralized exchanges (Uniswap, primarily) and centralized exchanges (Binance, Coinbase, OKX, Kraken, and others). Price is determined purely by supply and demand — there are no algorithmic mechanisms, pegs, or stabilizers. This means PEPE's price can move dramatically in either direction based on social sentiment, viral events, and broader meme coin market trends.
Multi-Sig Wallet
The remaining 6.9% of PEPE's supply was held in a multi-signature wallet requiring multiple parties to approve transactions. These tokens were designated for CEX listings, bridges, and liquidity on other platforms. In August 2023, controversy arose when some multi-sig signers were removed and tokens worth millions were moved.
This event highlighted the risks of centralized control over token reserves, even in ostensibly decentralized meme coins.
PEPE vs Other Meme Coins
PEPE competes in the meme coin category alongside established tokens like Dogecoin and Shiba Inu.
| Feature | PEPE | Dogecoin (DOGE) | Shiba Inu (SHIB) |
|---|---|---|---|
| Launch Year | 2023 | 2013 | 2020 |
| Blockchain | Ethereum (ERC-20) | Own blockchain (PoW) | Ethereum (ERC-20) |
| Total Supply | 420.69 trillion | ~140 billion (inflationary) | 589 trillion |
| Utility | None (pure meme) | Payments, tipping | ShibaSwap, Shibarium |
| Team | Anonymous | Known founders | Pseudonymous (Ryoshi/Shytoshi) |
PEPE's advantage is its cultural resonance with the globally recognized Pepe meme and its fair launch with no team allocation. However, it lacks the established infrastructure of Dogecoin (own blockchain, 10+ year track record) and Shiba Inu (ShibaSwap, Shibarium L2). PEPE is the purest meme play — its value is entirely a reflection of community sentiment.
Why Pepe Has Value
PEPE's value is derived entirely from cultural significance and community sentiment. The Pepe the Frog meme is one of the most recognized and enduring internet memes, spanning nearly two decades of online culture. By tokenizing this cultural phenomenon, PEPE allows people to express participation in meme culture through a tradeable digital asset.
The more people recognize and engage with the Pepe meme, the larger the potential community of buyers.
The fair launch mechanics give PEPE a certain legitimacy within the meme coin space. With 93.1% of supply in a permanently locked liquidity pool, no presale, and no team allocation, PEPE avoided many of the launch mechanics that characterize pump-and-dump schemes. This transparency attracted early adopters who then evangelized the token across social media, creating viral momentum.
However, PEPE has no intrinsic value, no revenue, and no utility. Its price is driven by social media trends, influencer attention, and overall meme coin market sentiment. During bullish periods, meme coins often outperform the broader market due to speculative fervor, but they can also crash far harder during downturns. PEPE should be considered an extremely high-risk, speculative asset.
How to Buy Pepe
PEPE is available on most major cryptocurrency exchanges. Due to its low per-token price, you will buy millions or billions of tokens even with small amounts.
1Compare providers
Use coinvela to compare PEPE prices and fees across exchanges. Binance, Coinbase, Kraken, and OKX all list PEPE. Compare trading fees and withdrawal costs.
2Create an account
Sign up with your chosen exchange and complete identity verification (KYC). Enable two-factor authentication for security.
3Fund your account
Deposit funds via bank transfer, credit/debit card, or cryptocurrency. You can also swap ETH for PEPE directly on Uniswap without an exchange account.
4Buy PEPE
Search for PEPE on the exchange, enter your desired amount, and place your order. Due to the extremely low per-token price, even $100 buys billions of PEPE tokens.
5Store Securely
For long-term holding, transfer PEPE to a personal wallet. If using Ethereum mainnet, be mindful of gas fees relative to your PEPE investment size.
Next step: Compare PEPE exchange rates and fees to find the best price.
How to Store Pepe
Wallet Types for PEPE
PEPE is an ERC-20 token stored in any Ethereum-compatible wallet:
- Software Wallets: MetaMask, Coinbase Wallet, Trust Wallet, or Rainbow. Easy to set up and use for trading.
- Hardware Wallets: Ledger or Trezor for maximum security. Supports PEPE as an ERC-20 token.
Hardware Wallets
For maximum security, use a Ledger or Trezor hardware wallet. These keep your private keys offline, protecting against exchange hacks and online threats. Given PEPE's volatility, cold storage is recommended for any significant holdings.
Protect Your Recovery Phrase
Your seed phrase is the only way to recover your PEPE if your device is lost. Write it down on paper and store it securely — never digitally or online. If you lose your seed phrase and your device, your tokens will be permanently inaccessible.
How to Use Pepe (PEPE)
Trading and Speculation
The primary use of PEPE is trading and speculation. PEPE's high volatility and massive social media following create frequent trading opportunities. The token is available on dozens of exchanges with deep liquidity. Traders buy on dips and sell on viral moments, social media trends, and broader meme coin rallies.
Tipping and Transfers
PEPE is sometimes used for social tipping and community rewards. Its extremely low per-token price makes it psychologically easy to send millions of tokens as tips or gifts, even when the dollar value is small.
Community and Culture
Holding PEPE is a form of cultural participation in meme coin and internet culture. The PEPE community is active on social media platforms, creating memes, content, and viral campaigns. For many holders, the social and entertainment value is as important as any financial return.
DeFi Integration
PEPE can be used in DeFi protocols as a trading pair or liquidity provision asset. Uniswap PEPE/ETH pools allow liquidity providers to earn trading fees. Some lending protocols accept PEPE as collateral, though typically with very conservative loan-to-value ratios given its volatility.
Risks
PEPE carries extreme risks. It has no utility, revenue, or fundamental backing. Price is driven entirely by social media sentiment and can crash 50%+ in days. The anonymous team and multi-sig controversy introduce trust risks. Ethereum gas fees can eat into small positions.
As a meme coin, PEPE is subject to pump-and-dump dynamics, whale manipulation, and the inherent risk that cultural attention moves to the next meme. Only invest what you can afford to lose entirely.
Notable People Connected to Pepe
PEPE's team is anonymous, but the broader Pepe ecosystem has notable figures.
Matt Furie
American artist and creator of the Pepe the Frog character in his 2005 comic "Boy's Club." Furie has had a complicated relationship with the meme's adoption across various internet communities. He has not endorsed or been involved with the PEPE cryptocurrency token. Furie has worked to reclaim the character through art projects and legal actions.
Anonymous PEPE Team
The creators of the PEPE token remain anonymous. They deployed the smart contract, provided initial liquidity on Uniswap, and burned the LP tokens. The multi-sig wallet holding 6.9% of supply was controlled by anonymous members, some of whom were later removed amid controversy. The team has not provided a roadmap or development plans.
The PEPE Community
Rather than individual leaders, PEPE is driven by its decentralized community of Ethereum-native holders and enthusiasts across Twitter, Telegram, Reddit, and other platforms. The community creates memes, drives social media campaigns, and coordinates around cultural moments. Key community accounts and influencers amplify PEPE content, though none have formal authority over the project.
Regulation Overview for Pepe
Regulatory Status
PEPE, as a meme coin with no utility, governance, or promised returns, occupies a particular regulatory niche. It is generally not considered a security in most jurisdictions because there is no investment contract — no team promises returns, no roadmap, no development milestones. However, meme coin regulation is evolving and varies by country.
Country-Specific Regulations
PEPE is available for trading in most countries, though regulatory approaches differ:
United States: PEPE is available on regulated US exchanges including Coinbase and Kraken. The SEC has not classified meme coins as securities. Standard capital gains taxes apply. Some states require specific licensing for exchanges listing tokens like PEPE.
Canada: Available on regulated Canadian exchanges. The CSA regulates crypto trading platforms. Capital gains tax applies on disposal. No specific regulatory framework for meme coins.
European Union: Available across EU exchanges under MiCA framework. PEPE is classified as a crypto-asset with standard disclosure requirements. No special meme coin regulations exist.
Australia: Available on AUSTRAC-registered exchanges. ATO treats PEPE as a capital gains tax asset. No specific guidance on meme coins beyond general crypto rules.
Meme coin regulation remains minimal in most jurisdictions because these tokens typically do not meet the criteria for securities classification. However, regulators are increasingly aware of meme coins and their potential for consumer harm through volatility and manipulation. Always check current regulations in your jurisdiction and keep records for tax purposes.
FAQs About Pepe (PEPE)
CoinVela's editorial team provides independent, research-driven explanations of cryptocurrencies.