What Is Pepe (PEPE): The Memecoin For Fun

Key Takeaways

• Pepe is a meme cryptocurrency launched in 2023, built on Ethereum for entertainment, not financial gain.
• It features zero taxes, burnt liquidity tokens, and a renounced contract, locking in its decentralized setup.
• Inspired by the Pepe the Frog meme, it’s a community-driven token with no formal team or roadmap.
• In 2025, Pepe holds a $4.2 billion market cap, ranking among top meme coins despite volatility.
• As of April 1, 2025, PEPE trades at $0.000010, reflecting its playful yet potent market presence.

Pepe splashed into the crypto world on April 17, 2023, a quirky Ethereum-based token born from the Pepe the Frog meme, a character that’s bounced around internet culture since 2005. Unlike coins with grand promises of utility or innovation, Pepe embraces its silliness, offering no taxes, no presale, and a fully decentralized structure after its creators burnt liquidity tokens and renounced the contract. This hands-off approach handed control to the community, sparking a rapid rise fueled by meme lovers and traders. By April 1, 2025, it’s climbed to a $4.2 billion market cap, trading at $0.000010 with a daily volume of $600 million, a surprising heavyweight in the meme coin arena. It’s not here to solve world hunger or power DeFi; it’s a playful jab at the crowded novelty coin space, challenging Dogecoin and Shiba Inu with its irreverent charm and grassroots hype.

What Is Pepe?

Pepe is an ERC-20 token on Ethereum, launched as a meme cryptocurrency with no pretense of intrinsic value or serious purpose beyond amusement. It draws its identity from Pepe the Frog, a cartoon character created by Matt Furie in his 2005 “Boy’s Club” comic, though the token has no official link to Furie or his work, instead piggybacking on the meme’s wild online journey through forums, image boards, and social media. With a total supply capped at 420.69 trillion tokens—a cheeky nod to internet staples 420 and 69—Pepe leans hard into meme culture, offering nothing but a digital giggle and a trading vehicle. It’s not about staking rewards, governance, or building apps; it’s a pure play on community sentiment and market buzz.

What sets Pepe apart is its no-frills design: zero transaction taxes mean every trade is fee-free beyond Ethereum gas, burnt liquidity tokens lock 93.1% of its supply into Uniswap pools forever, and a renounced contract ensures no one can tweak the rules. For beginners, it’s a low-cost, fun coin to dip into crypto with; for experts, it’s a speculative bet in the meme coin niche, where hype can drive $2 trillion in lifetime volume by 2025, turning a joke into a multi-billion-dollar phenomenon. It’s less about tech and more about tapping into the absurd energy of internet subcultures.

Who Is Behind Pepe?

Pepe came from an anonymous crew that dropped it onto Ethereum in April 2023, bypassing the usual presale hype or airdrop fanfare seen in other launches. They seeded 93.1% of the 420.69 trillion token supply into Uniswap liquidity pools, burnt those liquidity tokens to lock them in place, and renounced the smart contract, stripping themselves of control. The remaining 6.9% sits in a multi-signature wallet labeled “pepecexwallet.eth”, earmarked for centralized exchange listings and tracked publicly on Ethereum’s blockchain, a move to signal transparency after launch. No names, no faces, no formal team—just a group of meme fans who handed the reins to the community and stepped back.

This lack of centralized ownership kills profit motives for founders; there’s no treasury to skim or developer fund to cash out, leaving trading fees to Uniswap liquidity providers. It mirrors Dogecoin’s early days, where community passion, not a roadmap, fueled growth. Trouble hit in August 2023 when rogue ex-team members stole 16 trillion tokens from the multi-sig wallet, dumping them for $15 million, crashing the price 20%. The community rallied, blacklisting the culprits’ addresses, and Pepe rebounded, proving its resilience. By 2025, it’s a decentralized free-for-all, thriving on Discord chats, Reddit threads, and meme-driven momentum.

How Pepe Works: A Technical Explanation

Pepe operates as an ERC-20 token on Ethereum’s Proof-of-Stake blockchain, where validators stake 32 ETH to confirm transactions and secure the network, keeping Pepe’s trades humming along. Its 420.69 trillion token supply splits cleanly: 93.1% locked in Uniswap pools with burnt liquidity tokens, ensuring permanent market access, and 6.9% held in a multi-sig wallet for exchange listings, visible on-chain for accountability. Anyone with an Ethereum wallet like MetaMask can buy, sell, or hold PEPE, with trades flowing through decentralized platforms like Uniswap or centralized giants like Binance and KuCoin, added in late 2023.

Unlike tax-heavy meme coins taking 5-10% per swap, Pepe charges nothing beyond Ethereum gas fees, averaging under $1 in 2025 thanks to Layer-2 scaling like Optimism. The renounced contract locks its code, barring minting or changes, while burnt liquidity eliminates rug-pull risks, where devs drain funds and vanish. It’s barebones—no staking, no yield farming, no governance—just a token for trading, with $600 million daily volume in 2025 showing its liquidity depth. Ethereum’s 15 TPS cap limits Pepe’s speed, but gas costs stay low, making it accessible for small trades or meme-fueled pumps.

Current Status of Pepe In The Wider Ecosystem

Pepe sits at #24 with a $4.2 billion market cap by April 2025, a top meme coin trailing Dogecoin’s $20 billion and Shiba Inu’s $14 billion but dwarfing newer rivals like Bonk or Floki. It’s a fixture on Uniswap, where most volume flows, though listings on Binance, KuCoin, and OKX since 2023 broadened its reach to centralized traders. Its ecosystem is thin, centered on trading and hype, not DeFi protocols or NFT platforms, though fans have spun off Pepe-themed tokens and collectibles on OpenSea, piggybacking on its fame.

With $600 million daily volume and 400,000+ holders, Pepe’s appeal spans casual buyers and whale speculators, fueled by Reddit memes and Discord pumps. It lacks Dogecoin’s decade-long cultural clout or Shiba Inu’s token-burning tricks, but its $2 trillion lifetime volume by 2025 outshines many utility coins. The 2023 theft dented trust briefly, yet community resilience and exchange support keep it hopping, a volatile star in the meme coin galaxy.

Pepe’s Price Journey

Pepe debuted at $0.00000006 on April 17, 2023, exploding to $0.0000043 by May 5, a 7,000% surge as meme mania gripped traders. Listings on Binance and hype on social platforms fueled the spike, but the August 2023 wallet theft crashed it to $0.0000008, a 20% drop in hours. Recovery kicked in by 2024, hitting a new high of $0.000017 in November as community trust rebuilt and market sentiment flipped bullish. By April 1, 2025, it’s settled at $0.000010, down 2% in 24 hours, a rollercoaster tied to hype cycles, not tech or supply shifts.

Current Data & Interesting Statistics About Pepe

• Circulating supply is 420.69 trillion PEPE, fully in circulation.
• Market cap is $4.2 billion, #24 overall as of April 1, 2025.
• 24-hour volume is $600 million, down 2% from yesterday.
• All-time high was $0.000017 in November 2024, 41% below now.
• $2 trillion lifetime volume by Q1 2025.
• 400,000+ holders, with 93.1% supply in burnt liquidity.
• Zero tax trades, gas fees under $1 in 2025.

What Is The Future of Pepe?

Pepe’s future rides on meme culture’s staying power and trader sentiment, not tech breakthroughs or utility upgrades. Forecasts peg it at $0.000015-$0.000025 by 2027 if hype persists, with some eyeing $0.000013 in 2025. The $50 billion meme coin market in 2025 offers growth room, though it lacks Dogecoin’s iconic status or Shiba Inu’s burn mechanics. Community plans for bigger exchange listings, like Coinbase, and events like Pepe Times newsletters aim to boost visibility, but no DeFi or staking features limit its scope. Regulatory crackdowns on speculative coins and scam risks loom, yet its no-nonsense design could keep it a crowd-pleaser.

Pepe’s Meme Legacy

Pepe stands tall at $4.2 billion by 2025, a 2023 gag turned crypto juggernaut, proving memes can move markets. With zero taxes, burnt liquidity, and a locked contract, it’s a pure Ethereum play, racking up $2 trillion in volume. Beginners jump in for cheap thrills; experts ride its volatile waves. Price swings don’t kill its vibe, community passion and internet roots fuel a frog that’s outlasted skeptics, a meme coin king in a sea of serious contenders.