What is PEPE and How Does It Work in 2024?

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Pepe Coin, also known as $PEPE, has taken the crypto world by storm since its launch in 2023. But what exactly is PEPE coin and how does it work under the hood? In this comprehensive guide, we’ll explore the ins and outs of this controversial memecoin.

What is the purpose of PEPE?

PEPE coin

PEPE coin was created as a tribute to Pepe the Frog, an internet meme character that became hugely popular in the late 2000s.

Like other “meme coins” such as Dogecoin, the creators of PEPE sought to capitalize on the nostalgia and loyal fanbase associated with the Pepe meme.

On a technical level, PEPE functions as an ERC-20 token on the Ethereum blockchain. But its overarching purpose is to bring together the global community of Pepe enthusiasts and provide an investment opportunity rooted in online culture.

How does PEPE work?

PEPE uses a few key mechanisms to maintain supply and demand. First, it has a maximum supply of 420,690,000,000,000 tokens (nice). The vast majority of these are allocated to liquidity pools on exchanges.

Second, PEPE employs a “burn” system where a small percentage of tokens are removed from circulation with each transaction. This helps drive the price up as the total supply shrinks over time.

Third, holders automatically receive a portion of transaction fees through static redistribution. This encourages people to hold onto their PEPE long-term rather than day trading.

Limited supply, controlled burns, and passive income work together to give PEPE potential intrinsic value beyond its meme origins. Not a bad recipe for an altcoin in a field dominated by cats and dogs!

Does PEPE have a future?

PEPE coin future

Some skeptics see PEPE as little more than a pump and dump scheme riding a fleeting trend. But there are reasons to believe it may have legs:

Strong community: Over 500k users are invested in PEPE’s success through a dedicated Telegram group and Twitter presence. Meme value thrives on engagement.

Platform expansion: Developers are working on a marketplace for exclusive Pepe NFTs and other utilities to broaden the ecosystem.

Adaptability: The Pepe meme has survived multiple incarnations online. The crypto may evolve with internet culture for years to come.

Accessibility: Major exchanges now list PEPE, making it one of the highest profile “shitcoins” for casual crypto investors to dabble in.

As with any young altcoin, there are risks. But savvy PEPE hodlers know how to get crypto news very fast thanks to EXEcrypto. Overall, signs point to this controversial meme token sticking around longer than critics expect.

When PEPE launched?

PEPE coin launched quietly in mid-April 2023 without much initial fanfare or hype. Within a couple weeks, a series of high-profile Twitter personalities and whales began snapping up huge stashes of PEPE.

This set off explosive growth as ordinary crypto traders piled in, hoping for similar viral gains. By late May, PEPE had ascended into the top 100 cryptocurrencies by market cap, achieving over a billion in value – a meteoric rise by any standard.

Since then it has settled into a rollercoaster ride of volatility. But the launch hype established PEPE as a serious player in the altcoin space defying expectations of a mere pump and dump.

Is PEPE a scam?

PEPE crypto scam

Some red flags could suggest PEPE is a scam: its origins in internet jokes, lofty promises of passive income, and wild price swings hint at potential manipulation. However, there are no clear signs PEPE is an outright fraud either:

  • The contract code is public for anyone to verify
  • Developer identity is not fully hidden
  • Major exchanges like Binance deem it safe enough to list
  • Active community and trading provide some form of checks and balances

While uncertainty and risks are high as with any young cryptocurrency, PEPE appears to be an authentic experiment in crypto speculation rather than a deliberate rugpull scheme. Let the meme be the risk.

Is it safe to invest in PEPE?

As with any investment, there are no guarantees with PEPE. However, by approaching it as pure entertainment speculation within prudent risk limits, it can have a place in a diversified crypto portfolio. Some tips:

  • Only invest expendable funds you can afford to lose
  • Diversify across multiple altcoins to mitigate PEPE-specific risk
  • Expect high volatility – don’t trade with emotions
  • Use secure hardware or software wallets to store PEPE offline
  • Be mindful of taxes based on your location
  • Set a target price and stick to it; take profits where possible

By managing risk wisely and maintaining realistic expectations, PEPE can deliver fun returns without becoming a financial disaster. The meme goes on!

Is PEPE worth it? PEPE Price 2024

PEPE coin price 2024

As of October 2023, PEPE is trading around $0.00000081, down dramatically from its all-time high of $0.0000043 in May but still demonstrating resilience. Predicting crypto prices long term is a fool’s errand. But here are a few final thoughts on PEPE’s worth:

  • Meme magic is real, as Dogecoin has proven. If engagement can be sustained, PEPE may continue to generate hype and price spikes.
  • With over 100k holders, this is no fly-by-night punk coin. Solid long term volume and interest signify a real community.
  • Down 80% or more from peaks is normal correction territory post-parabolic runs. Now may be a decent entry compared to weeks ago.
  • At a modest market cap under $500M, plenty of room remains for growth against bigger altcoin names.

Only risk what you’re willing to lose. But for a speculative altcoin purchase, PEPE provides entertainment value and wild ride potential making a small position worth consideration for some portfolios. The meme lives on!

Where to buy PEPE?

Some popular centralized and decentralized exchanges offer direct PEPE/ETH, PEPE/USDT and other trading pairs. Among the options:

Binance – The top CEX by volume, easy fiat onramps, lots of PEPE liquidity.

KuCoin – For bank transfers, large brand, beginner friendly interface.

Gate.io – Advanced trading tools, many altcoin gems listed.

Uniswap – Lead decentralized exchange, avoid high CEX fees, connect a wallet.

PancakeSwap – Same as Uniswap but on BNB Smart Chain for lower fees.

Due diligence is needed on KYC policies, fees, available coins for any exchange. Placing limit orders versus market buys also helps save on costs.

How to sell PEPE?

Selling PEPE is the reverse process of buying:

  • Deposit your PEPE holdings into your exchange wallet from your personal wallet.
  • Navigate to the PEPE trading pair you want like PEPE/USDT.
  • Place a “sell” limit or market order to exchange your PEPE for another coin.
  • Withdraw funds to your bank/payment method as desired.

Avoid keeping crypto on exchanges long term. Transfer profits securely to a personal wallet once cashing out. Also be aware of tax implications in your nation depending on your holding period.

How to stake PEPE?

PEPE token stake

Some centralized exchanges like Gate.io offer PEPE staking pools where holders can stake their tokens to earn dividends from transaction volume. Annual percentages yield (APY) often range from 5-10%.

To participate, deposit your PEPE stash into the exchange and select their staking program. Most require minimum deposits and long lockups. Rewards accrue to your account every day.

Staking provides holders passive income while supporting network operations. Just remember not your keys, not your coins – truly cold storage is safer long term. Shop around for the best Rates.

How to mine PEPE?

Unlike Bitcoin which uses proof-of-work mining, PEPE runs on the Ethereum blockchain which uses proof-of-stake. This means there is no way to directly mine new PEPE tokens through hardware.

So while PEPE can’t be directly mined, there are still yield-generating opportunities to earn and accumulate more PEPE tokens through broader crypto networking participation. Just keep assets tax obligations in mind for your local laws.

PEPE coin has shown incredible promise in its first few months. As long as the community and development keeps growing, PEPE hodlers could reap great rewards as adoption increases further. Thanks to services like EXEcrypto, everyone can now stay on top of the latest PEPE and crypto news in near real-time!

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