What is Pepe?
Pepe is a meme coin: a cryptocurrency built around an internet joke, in this case the Pepe the Frog cartoon. It launched in 2023 on Ethereum. The project's own website describes PEPE as a meme coin with no intrinsic value or expectation of financial return, and says it has no connection to Matt Furie, the artist who created Pepe the Frog.
PEPE has no product, company or revenue behind it. People buy it mainly because of its online community, its humor and the hope that others will want it later. The website also says there is no formal team or roadmap, so no one is responsible for building anything on top of the token.
How does it work?
PEPE is an ERC-20 token, meaning it follows Ethereum's standard rules for tokens and is recorded on the Ethereum blockchain. It relies on Ethereum's proof of stake for security and is traded on exchanges and on decentralized exchanges such as Uniswap.
According to the project, its supply of 420.69 trillion tokens was fixed at launch, with no fees charged on transfers. It also says contract ownership was renounced, meaning no one holds special control to change the token's code, and that the tokens backing its first trading pool were locked away permanently.
What is it used for?
PEPE has almost no practical use beyond being traded and shared within its community.
- Speculative trading on exchanges
- Taking part in online meme culture and community activity
- Swapping on decentralized exchanges, which requires an Ethereum wallet and ETH to pay network fees
Key facts
- Launched: 2023
- Creator: anonymous developers; not affiliated with Pepe the Frog's creator
- Consensus: secured by Ethereum's proof of stake
- Native blockchain: Ethereum (ERC-20 token)
- Supply: fixed at 420.69 trillion PEPE at launch
Explainer written by Finvane from official project documentation. It is not investment advice.