Launched in April 2023, Pepe (PEPE) has become one of the most popular memecoins built on Ethereum, gaining massive attraction within the crypto community. As an ERC-20 token, it leverages the well-known internet meme, Pepe the Frog, to establish its presence.
Since the launch of Pepe, it has attracted a large following and has become a notable asset in the crypto market. Within just three weeks of its launch, Pepe achieved a milestone by surpassing a market capitalization of $1 billion, a feat that took its predecessor, Dogecoin, nearly four years.
How Does Pepe (PEPE) Work?
As an ERC-20 token on the Ethereum network, Pepe has several benefits, including enhanced security provided by Ethereum's Proof-of-Stake (PoS) consensus mechanism. Pepe also incorporates several unique mechanisms to enhance its value and potential utility to users.
Deflationary Mechanism: Pepe employs a strategy where a small percentage of tokens are burned with every transaction. This not only reduces the total supply over time but also potentially increases the value of remaining tokens, creating an enticing prospect for investors.
Redistribution System: Initially, Pepe distributed a portion of transaction fees among existing holders, rewarding long-term investment and encouraging community loyalty. However, discussions are ongoing about the viability and future of this feature.
No-Tax Policy: Standing out in the crowded crypto market, Pepe transactions are free from any additional fees. This policy enhances its attractiveness by simplifying transactions and increasing accessibility for users.
History of Pepe the Frog
Pepe the Frog started as a character in Matt Furie's comic book "Boy’s Club," first published in 2005. The character, known for its laid-back and friendly nature, quickly became an internet sensation, with various iterations like "Sad Frog" and "Smug Frog" capturing different emotions.
Over the years, Pepe's image has been used in a variety of contexts, some of which have been controversial. In response, Matt Furie launched the "Save Pepe" campaign to restore the character's original positive image. This initiative aimed to promote peaceful and positive versions of Pepe, highlighting the character's enduring appeal and cultural impact. The strength of Pepe lies in its robust community support, boasting over 650,000 followers on X and a solid presence on platforms like Telegram, Discord, and Reddit.
Investing in Pepe (PEPE) With Tax-Advantages
If you’re interested in buying and selling Pepe (PEPE) you can do so through innovative platforms like iTrustCapital, where investors can buy and sell PEPE through their tax-advantaged* crypto IRAs.
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*Some taxes and conditions may apply.
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