A Beginner’s Guide to PEPE Coin
PEPE is a new meme token that has taken the crypto world by storm due to its initial soaring price and excited community. If you haven’t heard of the PEPE token, don’t worry – we’ve got you covered.
In this guide, we take a look at what the PEPE token is, its short history and inspiration, and how to get started with the PEPE token using your Trust Wallet.
What Is PEPE?
PEPE is a new meme coin that was launched on April 14, 2023. Two weeks prior, the web domain pepe.vip was registered for the project. Following the registration of the website, a Twitter account and later a Telegram group were created as well.
While only a few days old by now, PEPE has risen to fame, being named among common meme coins like Dogecoin or Shiba Inu. The former rose to popularity when Elon Musk endorsed it publicly on Twitter.
A meme coin is a cryptocurrency that draws its inspiration from popular internet memes that are designed to capture the attention of both meme lovers and social media users. Meme tokens are quite volatile in price. Because of this, they are considered a very high-risk but potentially high-reward type of investment among crypto traders and investors.
What is the PEPE token?
According to the official Twitter account for PEPE, the PEPE token is described as the ‘most memeable memecoin in existence.’ As such, it’s a brand-new meme token in the crypto industry that features Pepe the Frog.
The PEPE token gets its inspiration from this frog internet meme and cartoon character that was originally created in 2005 by Matt Furie. Similar to other tokens based on Pepe the Frog, the PEPE token does not have any association with Matt Furie, only paying homage to a meme that is well-loved and recognized.
According to the PEPE website, PEPE ‘is a meme coin with no intrinsic value or expectation of financial return’. Additionally, it does not have a formal roadmap or team and the token’s only goal is to appeal to the crypto world’s broad meme culture, by being totally ‘useless and exist for entertainment purposes only’. However, the website still categorizes PEPE’s next steps into three phases:
Phase 1: Meme
- Launch CoinGecko/Coinmarketcap Listings
- 1,000+ Holders
- Get $PEPE Trending on Twitter with our memetic power
Phase 2: Vibe and HODL
- Community Partnerships Pepe Times digital newsletter
- Formation of token gated Discord group, Pepe Palace for holders with more details to be announced
- CEX Listings 10,000+ holders
Phase 3: Generational Wealth
- Pepe merch
- Pepe Academy
- Pepe Tools
- T1 Exchange Listings 100,000+ holders
- Meme Takeover
Since its launch, PEPE’s price has skyrocketed to make waves among meme lovers and investors alike. Its price surge also saw it get supported on Trust Wallet.
A few days after its launch, PEPE’s market capitalization quickly grew to nearly $133 million. Currently, the token has over 33K individual holders. Additionally, the token’s trading pools on DeFi’s biggest decentralized crypto exchange Uniswap have locked up more than $1.2 million in liquidity, supplied by various providers.
According to data on CoinMarketCap, the token has a maximum supply of slightly over 420 trillion tokens and a market cap of more than $86 million as of the time of writing. This number is allegedly a reference to the 4/20 cannabis culture. Additionally, the token does not have any known functionality.
What is the history and inspiration behind the PEPE token?
The PEPE token gets its inspiration from Pepe the Frog, a meme that has its roots dating back to 2005. Matt Furie introduced Pepe the Frog as a character in ‘Boy’s Club’, his own comic series. Originally, Pepe was an innocent comic character that gained recognition on multiple platforms such as 4chan, Gaia Online, as well as Myspace to then become a widely-shared internet meme.
Over time, Pepe the Frog underwent various adaptations that brought about numerous different designs of the character, adding to its meme character. These included but were not limited to ‘Angry Pepe’, ‘Feels Frog’, ‘Sad Frog’, and ‘Smug Frog’, among others. With each iteration, Pepe the Frog began to embody various emotions and scenarios, which accentuated the meme’s enduring appeal and flexibility.
In spite of its harmless beginnings, in the mid-20210s, Pepe the Frog became linked to controversial and extremist groups known as the alt-right movement. The Anti-Defamation League perceived it as a hate symbol in 2016, causing Pepe the Frog’s image to take a darker turn. However, there have been ongoing efforts to restore Pepe’s original image, which was that of an innocuous internet meme by Furie himself, the creator. In addition, he has been working to distance himself from the development of the harmful association of the Pepe character.
As it is, PEPE, which is a token designed to pay homage to a meme that is popular and well-recognized, is viewed as a positive step in helping restore the original theme and standing of the meme.
Now that we know what the PEPE token is, its history, and the sources for its inspiration, let’s take a look at its tokenomics.
A Look into PEPE’s Tokenomics
For starters, PEPE has a total supply of 420,690,000,000,000 tokens and champions a ‘No Taxes, No Bullsh*t’ policy. This policy is what makes PEPE’s value proposition simple, while the limited supply is considered to build a sense of scarcity - even if there are trillions of tokens.
In terms of the distribution of the tokens, PEPE’s website clearly breaks down how the tokens are handed out to various stakeholders. 93.1% of PEPE tokens were sent to the liquidity pool, with the contract renounced and LP tokens burnt. The remaining 6.9% is being held in a multi-sig wallet that’s reserved for future centralized bridges, listings, and liquidity pools. The wallet can be easily tracked via the ENS name “pepecexwallet.eth”.
When it comes to utility, the token does not have any utility at the moment but is designed for entertainment purposes only. However, there is a possibility that the token could evolve into something that could act as a purchasing currency for digital goods.
Well, according to phase 3 of its informal roadmap, the token intends to have its own academy, merch, and tools. Giving it a somewhat of a use case and thus some utility at some point, which may boost the token’s demand and could help it achieve its meme takeover goal.
What Is Trust Wallet?
Following PEPE’s popularity and skyrocketing price, Trust Wallet, the secure and most trusted crypto wallet, added support for the token early on.
Trust Wallet is a secure, multi-chain, self-custody, decentralized crypto wallet that enables users to store and manage over 10 million digital assets, including non-fungible tokens (NFTs), across 70 blockchains.
With Trust Wallet, users have full control over their crypto assets and private keys. With more than 60M+ downloads, Trust Wallet aims to make Web3 accessible to everyone, and people are able to use Trust Wallet to manage cryptocurrencies and tokens such as PEPE.
You can also access decentralized applications (dApps) through Trust Wallet’s built-in dApp browser. In addition, the Binance-owned crypto wallet has partnerships with third-party platforms like MoonPay and Ramp, allowing users to purchase digital assets using fiat currency. And recently, Trust Wallet integrated its zkEVM into its ecosystem to enable developers to execute smart contracts on the Ethereum blockchain using zero-knowledge proofs.
Now that we know what Trust Wallet is, let’s take a look at how to swap ETH for PEPE on Uniswap using the dApp (decentralized app) browser within Trust Wallet.
How to Swap ETH for PEPE on Uniswap Using Trust Wallet
In order to begin, you will need to have the Trust Wallet app installed. Only then can you swap ETH for PEPE. You can access and download Trust Wallet as an app on your Android or iOS device or use it as a browser extension.
Trust Wallet Browser Extension
If your preference is to use Trust Wallet as a browser extension, visit the Trust Wallet website on your browser. By choosing the browser extension, you will be able to automatically see if the extension is available for your browser. Currently, the Trust Wallet web extension is available for Brave, Chrome, Edge, and Opera browsers.
For instance, if you are on Chrome, visit the Trust Wallet website as shown below and click on ‘Available in the Chrome Web Store’.
Next, click on ‘Add to Chrome’, then ‘Add Extension’.
The Trust Wallet browser extension will be installed on your Chrome browser and you can begin to send and receive crypto transactions.
Trust Wallet Mobile App
To download the app, go to the Apple App Store or Google Play Store on your device and search for ‘Trust Wallet’ then click on ‘Get’ or ‘Install’.
For the purposes of this guide, however, we will use the Trust Wallet app. Once you have installed the app, go to your device and open up the app. Then click on ‘Create a New Wallet’ next.
Next, go ahead and create your six-digit password, which will provide your personal wallet and crypto assets with an extra layer of security. Confirm the password and then tap on ‘Continue’ to proceed with the setup process for your own wallet.
You will be required to back up your twelve-word recovery phrase. A recovery phrase is a sequence of 12 words that stores the data needed to retrieve the crypto assets linked to your Trust Wallet account. You should never share your recovery phrase with anyone. If you do, you could lose your digital assets associated with your Trust Wallet.
Trust Wallet allows you to back up your recovery phrase via Google Drive or manually. Choose the manual backup option and read the instructions provided in the event of losing your secret phrase, and then check the warning boxes given then click ‘Continue.’
Your twelve-word recovery phrase will be displayed on your screen. Write it down in the exact order displayed and click ‘Continue’. Next, confirm your recovery phrase by typing in all twelve words in the correct order. Click on ‘Done’ once you have entered the recovery phrase in the correct order.
Your Trust Wallet will now be active and ready to be used.
With an active account, you are finally ready to swap ETH for PEPE. Below is a step-by-step guide on how you can swap ETH for PEPE on Uniswap using Trust Wallet. Uniswap is a decentralized cryptocurrency exchange available on Trust Wallet.
Before you can swap ETH for PEPE, you will need to ensure that you have enabled both tokens in your app. To do this, click on the icon on the right-hand corner of your screen, and on the search bar, type ‘Ethereum’ and click on the token’s slider icon to enable ETH in your wallet. Do the same for the PEPE token. Make sure you choose the correct PEPE token.
To access the Uniswap dApp, go to Trust Wallet and click on ‘Discover’, then scroll to the DeFi field and click on ‘Uniswap Exchange’.
On the Uniswap DApp, ETH will automatically be the default token to swap. Proceed to select PEPE as the token to swap ETH with. Always ensure that you access the right DApp browser to avoid falling prey to crypto scammers. This you can do by checking the DApp’s URL for correctness.
Next, enter the amount of ETH you want to swap for PEPE tokens and follow the steps to complete the transaction. As always, ensure you have enough ETH in your account to pay the transaction fees for the swap.
And that’s how to swap ETH for PEPE tokens on Uniswap using the Trust Wallet app.
Getting Started With PEPE in Trust Wallet
Besides using dApps within Trust Wallet to swap PEPE, you can also use Trust Wallet to send and receive the PEPE token.
How to Send/Receive PEPE Tokens Using Trust Wallet
To send PEPE using Trust Wallet, ensure that you have the recipient’s wallet address. They can share their PEPE address by going to their crypto wallet and clicking on ‘PEPE’ then ‘Receive’. Next, copy the address.
Once you have the PEPE wallet address, go to your Trust Wallet app. On the homepage you will find the PEPE token. Then click on the ‘Send’ option as shown below.
Next, paste the recipient’s wallet address and enter the amount of PEPE tokens you want to send, then click on ‘Continue’.
Proceed to review the details of your PEPE transaction as shown on your device before confirming the transaction. Remember, you need to have enough ETH in your wallet to pay for the Ethereum gas fee.
Once the transaction is successful, your recipient will receive their PEPE tokens in their wallet.
To receive PEPE tokens in your own Trust Wallet account, go to the Trust Wallet app, click on ‘PEPE’ on your homepage, and then ‘Receive’. Copy your PEPE wallet address and share it with the sender. Please note that you can also set the amount of PEPE you wish to receive from your sender.
The sender can then proceed to send you PEPE tokens to your Trust Wallet account and once confirmed by the network, you will receive the PEPE tokens in your account as they will show up in your wallet.
Remember, while PEPE is a new meme token, it is not without risks. While the token is currently trending and receiving ‘positive’ support from its community, it’s important to always do your own research (DYOR).
And that’s how to send or receive the PEPE token using your Trust Wallet account.
Beware of scams and DYOR!
PEPE token is one of the newer entrants in the meme token market and has gained quite a popularity among crypto enthusiasts. If past history on meme cryptocurrencies like Dogecoin and Shiba Inu as well as PEPE’s own performance since its launch is anything to go by, then the PEPE token might still hold potential in the future.
That said, the PEPE token, just like other tokens, is a very high-risk investment and its price can fall just as fast as it can rise.
In addition, there is a chance that scammers can also create similar tokens - and they already have - to dupe interested investors. Therefore, it’s always important that you do your own research before choosing to invest and to make sure you are trading the correct asset on decentralized exchanges, so you don’t end up falling victim to scammers.
Download Trust Wallet today to send, receive, and use PEPE with ease.
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