Pepe Coin ($PEPE) continues to be one of the hottest meme cryptocurrencies of 2024. After launching in April 2023, the token has reached a market cap of over $3.3 billion and is one of the top performers in the recent meme coin bull run,
In this how-to-buy Pepe Coin guide, we will show investors exactly how and where to buy the popular meme coin – we also cover the Pepe price history and discuss whether Pepe Coin is a valuable investment.
The sections below offer a quick look at how to buy Pepe Coin right now: How to Buy Pepe – Quick Step-by-Step Guide
Pepe Coin: Explained
Pepe Coin (PEPE) is a relatively new cryptocurrency token that took the meme world by storm in mid-2023. In recent years, crypto markets have traded sideways due to an increase in interest rates following the coronavirus pandemic and other macroeconomic factors.
However, the market was revived in April and May 2023 with the explosion of new meme tokens such as $PEPE. This meme cryptocurrency is based on the popular ‘Pepe the Frog’ meme, which Matt Furie created in the early 2000s.
Notably, the Pepe Coin does not offer any utility or intrinsic value to token holders. In fact, the PEPE website states the following: “PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team of roadmap. The coin is completely useless and for entertainment purposes only.”
One of the cryptos with the highest potential, Pepe Coin instantly became one of the top tokens in terms of market capitalization. After launching in April 2023, the token reached a market cap of over $1 billion in less than a month.
Since this cryptocurrency offers no real value to the investor, the token has only one main goal. Pepe Coin wants to replace the popular meme and doge tokens such as Shiba Inu (SHIB) and Dogecoin (DOGE). While the price faltered in mid-2023, the crypto is reaching new heights in this current meme coin price surge. At the time of writing, $PEPE has a market capitalization of over $3 billion.
As seen with many meme tokens, the price tends to correct after receiving huge returns. While the token is way below the market cap of top meme coins such as DOGE, it is still a very new cryptocurrency.
PEPE Coin: Price History
Unlike many new meme cryptocurrency tokens, $PEPE did not conduct any initial exchange offering (ICO). The token was listed straight to cryptocurrency exchanges on April 17, 2023. The initial launch price of $PEPE was around $0.000000001 per token.
This popular cryptocurrency has a total token supply of 420.69 trillion. The price surge of $PEPE started almost instantly, reaching a high of $0.00000431 on May 5, 2023. This equates to a massive price increase of over 430,000% since the token first launched.
After this instant price jump, the token corrected in the next few weeks. By May 12, this volatile cryptocurrency was trading in the $0.00000126 range. In the following weeks, $PEPE was then trading sideways before dipping throughout June.
July then brought more gains, with the token doubling in price in just two weeks, but it then struggled until the end of September, losing 66% of its value in just eight weeks.
However, with the rest of the crypto market bouncing due to positive news around spot Bitcoin exchange-traded funds (ETFs) being offered by the likes of BlackRock and Fidelity, PEPE rallied and had a strong performance leading into 2024
In the first quarter of 2024, Pepe cemented itself as the third-largest meme coin by market cap, trailing only DOGE and SHIB, while trading volume remains high. The announcement of support for Pepe on Binance contributed to this surge alongside the general uptick in the meme coin market as well as the wider crypto market. This has led to a weekly gain of over 360% and a new all-time high (ATH) of $0.00001074 on March 14th, 2024.
Since then, the price of Pepe has dropped 26% as the meme coin mania dies down slightly heading into mid-2024. However, the broader crypto market has begun to rally following a dip in April, and Pepe is up from its average trading price in April.
Why Has the Price of Pepe Gone Up?
While we have covered the bullish price history of $PEPE, let’s take a look at some of the reasons for this price jump:
FOMO
In the past, multiple meme cryptocurrencies have offered staggering returns almost instantly. Similarly, with $PEPE, the popularity surged within a few days of the cryptocurrency’s launch.
While meme tokens do not offer much utility, they manage to offer huge returns due to their virality and marketing. Similar to Dogecoin, Pepe Coin is named after an old and relatable meme, making it a memorable cryptocurrency.
Once the price started surging, FOMO (Fear of Missing Out) kicked in for most investors. This helped the price to surge by over 400,000% within only a few weeks of release.
Revival of the Crypto Space
Towards the end of 2021 and 2022, meme tokens were offering very inconsistent returns. With Bitcoin (BTC) trading sideways, most of the cryptocurrency space failed to offer returns to investors.
However, as the top cryptocurrency tokens start performing stronger, there is a splurge of funds in the cryptocurrency space. Therefore, meme tokens such as Pepe Coin tend to become strong investments.
By the start of 2023, Bitcoin and Ethereum started pumping, beginning a revival in the cryptocurrency space that’s carried on into 2024. In 2024, $PEPE has emerged as one of the top performing meme tokens.
Is PEPE a Good Investment Right Now?
While this meme cryptocurrency has been soaring since its release in 2023, should investors still buy more $PEPE? Continue reading to learn if Pepe Coin is a good investment to make right now:
Available at a Low Price
At the time of writing, $PEPE is trading at the $0.000007924 mark and is up 4% in the past month. As mentioned above, meme tokens can be among the most volatile investments to make in the cryptocurrency space. Prices can jump hugely in a matter of days or even hours.
The recent price spike may be a sign of the token’s revival following a month of sideways momentum. Since the token is still priced very low, investors with a higher risk appetite may want to diversify their portfolio with this token, as $PEPE can be the next crypto to explode. If this price trajectory continues, even a small investment can yield large returns.
Before investing in meme tokens, investors should do their own research and only invest in being aware of the risks associated with the investment.
Deflationary Token and No Buying Tax
While $PEPE does not offer many use cases to token holders, its tokenomics ensures that it can become a more valuable asset in the long run. Built on the Ethereum blockchain, $PEPE is an ERC-20 token.
Notably, the creators of Pepe Coin have imposed no buy or sell taxes to ensure that investors do not pay more when conducting transactions. This feature can help attract more investors to the project since many projects tend to charge higher fees to maintain liquidity.
Furthermore, Pepe Coin is also a deflationary token since a small portion of $PEPE coins will be burnt per transaction. Thus, the overall token supply will reduce in the long run.
With a reduced token supply, the token can increase in price since a few number of tokens will be available for a large pot of investors.
Available on Multiple Exchanges
Pepe Coin’s availability on multiple cryptocurrency exchanges can help make it a more profitable investment. As of now, Pepe Coin is available to buy on most of the top crypto exchanges, including KuCoin, Huobi Global, and OKX, as well as dozens of decentralized exchanges.
The token has also been listed on Binance, one of the largest cryptocurrency exchanges in the world. This helps make the token available around the world, which will help increase the trading volume.
How to Buy Pepe: Full Tutorial
After going through our Pepe Coin guide, you can make an investment decision on this new meme cryptocurrency.
If you want to buy $PEPE right now, follow the steps below to get the token.
Step 1: Select a Cryptocurrency Exchange
Since $PEPE is available to buy on multiple cryptocurrency exchanges, the first step is to choose a cryptocurrency exchange of your choice. For instance, $PEPE can be traded on popular centralized exchanges such as Binance, OKX, Huobi Global, and KuCoin, or via a decentralized exchange such as the one on Best Wallet.
Depending on your investing needs and requirements, you can go through these options to decide. We will use Best Wallet for this guide as it is also our overall best crypto wallet.
Step 2: Create a New Account
To get started, first download the Best Wallet app for free – it is available for both iOS and Android devices. A desktop browser version is also in development and is expected to be released in 2024.
As a decentralized wallet, all that’s need to create a new account is an email address, there’s no Know Your Customer (KYC) process to go through, which will not be the case with a centralized exchange, which often require proof of address and a photo ID.
Choose the security settings – two-factor authentication and biometric fingerprint ID can be set up now or later – and input a four-digit passcode.
A new account will now have been created and user’s will be redirected to the homepage dashboard.
Step 3: Buy $USDT
To purchase $PEPE, users must first hold stablecoin Tether ($USDT) in their account – this will also be the case for CEX accounts.
USDT can be purchased on Best Wallet on its homepage with fiat currency, via trusted third-party broker Wert, with users able to pay via Visa, MasterCard or ApplePay. Simply follow the instructions on-screen to complete the purchase.
It may take a minute or two to process, with the USDT eventually showing up on the dashboard. Alternatively, send USDT from another wallet or exchange to Best Wallet.
Step 3: Search for Pepe Coin
Once the wallet has USDT loaded, select the ‘Convert’ button on the dashboard to redirect to Best Wallet’s built-in DEX. A swap box will then appear.
Step 4: Buy $PEPE
The swap box will have Ethereum (ETH) by default in the top section – first, click the drop-down menu and search for USDT in the bar and select it.
Then, in the box where it says ‘Select a token’, hit the drop-down menu and search for ‘Pepe’. In the box where it says 0.0, enter the amount of USDT to convert into PEPE and then complete the transaction – again, wait a brief moment before the token appears in your wallet.
Best Wallet allows users to safely store tokens for free, while its DEX has multi-chain functionality meaning thousands of other coins can also be traded. Active users are also set to receive a huge airdrop of native token $BEST in the coming months.
Top Centralized Exchange To Buy Pepe
Currently, MEXC is the top centralized exchange from where investors can buy Pepe. It caters to over 10 million users across more than 170 countries.
MEXC is particularly appealing for its cost-effective trading model. It charges a 2% fee for crypto purchases using credit or debit cards, alongside offering 0% spot trading fees. For futures trading, the taker fee starts at just 0.02%, and limit orders are free, making MEXC a lucrative option for both day traders and casual investors.
With support for over 1,600 cryptos and an infrastructure that can process 1.4 million transactions per second, the platform offers diversity and efficiency.
MEXC provides advanced charting features, including multiple indicators, drawing tools, and integration with TradingView, catering to experienced traders and newcomers.
The platform introduces the Copy Trading feature, enabling users to replicate the strategies of successful traders. Additionally, MEXC Savings offers attractive APRs on cryptos, with the flexibility to unlock tokens anytime.
MEXC ensures the security of user assets, with a significant portion stored in cold storage and protected by an anti-DDoS system. The platform maintains a 1:1 proof-of-reserve for ETH, BTC, USDT, and USDC assets.
Other Features
- Multiple Payment Options: Users can purchase cryptos via various methods, including bank transfers, credit/debit cards, SEPA, and peer-to-peer transactions. Third-party processors like Moonpay add convenience for direct crypto purchases.
- Customer Support: MEXC provides 24/7 customer support, improving user experience and promptly addressing queries.
MX Token Benefits: The MX token offers holders a range of benefits, including governance participation, trading discounts, and access to exclusive airdrops.
Conclusion
This how-to-buy PEPE coin guide has offered a detailed analysis of this new meme cryptocurrency. After launching in April 2023, Pepe Coin soared past the $1 billion market cap in a few weeks. Despite struggling in mid-2023, it has become the top meme coin gainer in 2024, and has been resurgent in recent weeks, rising almost 800% in February.
With a total supply of more than 420 trillion, $PEPE imposes no transaction taxes and will reduce in supply over time. Currently, the token is trading at the $0.00000815 level. Pepe Coin may be one of the best cryptocurrency tokens to buy in 2024 and beyond with the current bull run expected to continue in the coming months.
References:
- https://www.spglobal.com/en/research-insights/featured/special-editorial/are-crypto-markets-correlated-with-macroeconomic-factors
- https://www.coindesk.com/markets/2023/05/05/first-mover-americas-memecoin-pepe-hits-1b-market-cap/#:~:text=Top%20Stories,after%20it%20debuted%20last%20month.
- https://www.binance.com/en/price/pepe
- https://coinmarketcap.com/currencies/pepe/
- https://blog.kraken.com/what-is-pepe-pepe-meet-the-latest-viral-meme-coin-phenomenon
- https://www.coindesk.com/markets/2023/06/22/pepecoin-becomes-biggest-meme-coin-gainer-with-70-weekly-jump/
- https://www.binance.com/en/feed/post/681184
- https://coingape.com/pepe-coin-price-rallies-70-binance-extends-support-for-pepe/
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Viraj Randev
EditorBased in Wembley, England, Viraj graduated from the University of Surrey before pursuing an internship at DBS Bank in New Delhi. Following that experience, Viraj pivoted to a personal passion - creative writing - quickly becoming a top-rated Upwork freelancer and gaining further experience on OwlRatings. Currently Viraj is now part of the Techopedia team lending his knowledge of the financial markets to the site, reviewing trading platforms and offering tips for beginners to investing. In his spare time he also enjoys script writing.
