Overview
Pepe (PEPE) is a meme coin launched on Ethereum in April 2023, named after Pepe the Frog, one of the internet’s best-known memes. The coin’s creators are anonymous, and Pepe the Frog’s original artist, Matt Furie, has no connection to it.
PEPE exploded within weeks of launch, reaching a market value of over a billion dollars and turning tiny investments into fortunes. It became the defining meme coin of the 2023 cycle and, in December 2024, reached a peak market value of over $10 billion.
How it works
PEPE is a simple token on Ethereum. There is no blockchain of its own, no app and no product. Its website openly says it is “just a meme” with no intrinsic value.
At launch, the team promoted a “fair” approach:
- no taxes on buying or selling;
- most tokens added straight to a trading pool on Uniswap;
- ownership of the token contract given up, so nobody can change the rules or mint new tokens.
The PEPE token
| PEPE at a glance | |
|---|---|
| Supply | 420.69 trillion PEPE (fixed) |
| Price (21 Oct 2026) | about $0.0000045 |
| All-time high | about $0.000028 (December 2024) |
| Market cap | about $1.9 billion (#53) |
The supply of 420.69 trillion is itself a joke, and it will never grow. Because PEPE has no utility, its price depends entirely on how many people want to buy it: market mood, social media trends, exchange listings and the moves of large holders (“whales”).
Security and risks
- 2023 wallet scare. In August 2023, wallets linked to the team suddenly sold about 16 trillion PEPE, and the project’s community channels briefly went dark. The price fell sharply. The project later said “rogue” team members had acted on their own.
- 2025 website hack. In 2025, PEPE’s official website was briefly hijacked to send visitors to a wallet-draining scam. The token itself was not affected, but it is a reminder to be careful with links.
- Whale concentration. A small number of wallets hold large amounts, and their trades can move the price sharply.
- Pure speculation. In 2026 PEPE spent most of the year in a downtrend, falling below a third of its 2024 peak.
Pepe vs. the competition
| Pepe | Dogecoin | Shiba Inu | |
|---|---|---|---|
| Launched | 2023 | 2013 | 2020 |
| Blockchain | Ethereum token | Own blockchain | Ethereum token + Layer 2 |
| Supply | 420.69 trillion, fixed | No cap | ~589 trillion, burning |
| Utility | None (by design) | Payments | ShibaSwap, Shibarium |
Our verdict
PEPE is honest about what it is: a meme with no utility, traded for fun and speculation. Its brand, liquidity and listings make it one of the leading meme coins.
But its price depends only on hype, and it has already lost most of its value from the 2024 peak. PEPE is a pure gamble: if you buy it, use only money you are fully prepared to lose.
This review is for information only and is not financial advice.