How to swap Pepe Coin on a DEX
Wondering what all the buzz is around PEPE and how you can get your hands on some? We got you covered!
Pepe Coin is a trending memecoin some traders made millions on during its spike in May 2023, and the frenzy is still ongoing. But, do you need to have an account with Coinbase, Binance, or another centralized exchange to invest in Pepe Coin? Thankfully, the answer is no.
In this YetAnotherDeFi quick guide, we’ll show you how to swap Pepe Coin without registering on centralized crypto platforms. Also, you’ll learn a little bit about the token’s investment perspectives and tokenomics. Stay tuned.
Where do I swap PEPE Coin?
The PEPE token is a hot new memecoin launched on Ethereum in April 2023 — not to be confused with Pepe the Frog Coin (PEPEBNB). So, is PEPE an ERC20 token? Yes. PEPE is an ERC20 token you can swap on any DEX listing it, such as Uniswap, PancakeSwap, or OpenOcean. But for the lowest fees, you can go to a DEX aggregator like YAD Finance to set a custom slippage tolerance and gas price, then use the YAD router for the best way to swap PEPE: decentralized and without any gatekeepers!
Wondering what a DEX aggregator is? First, DEX is short for “decentralized exchange,” which is an innovation in finance that only crypto made possible. In contrast to a centralized exchange like Coinbase or Binance where you are forced to accept a lengthy and restrictive terms of service agreement, no one entity controls a DEX — meaning DEX users can’t be de-platformed or harvested for data.
A decentralized exchange aggregator is a decentralized application (aka dApp) that pools liquidity from various DEXs within the decentralized finance ecosystem. Its purpose is to enable traders to swap tokens for optimal prices while minimizing gas fees. By aggregating liquidity, platforms like YAD effectively decrease slippage — i.e., the difference between the expected price of a trade and the actual price that is executed. If this is starting to sound complicated, we covered everything in detail in our guide to DEX aggregators.
So, how can you swap Pepe Coin? Here’s the flow when using a DEX aggregator:
- Create or import a wallet on MetaMask, Noone Wallet, or any other wallet client of your choice that supports ERC20 tokens.
- Have some ETH, DAI, or any other ERC20 token the DEX aggregator of your choice supports — YAD supports over 3,500 ERC20 tokens, so there’s a good chance you can swap Pepe Coin with any token you hold.
- Connect your wallet to YAD, choose the token you want to sell and which blockchain you are holding it on (YAD currently supports seven chains), select the PEPE token ticker into the Receive form, and finally set your custom slippage tolerance and gas price.
- Voila! You’re ready to swap.
Is Pepe Coin a good investment?
Memecoins are cheap by design. For example, as of May 2023, a single DOGE is worth $0.0875, 1 SHIB is $0.000024, 1 BABYDOGE costs $0.0000000022, and 1 FLOKI is $0.0000000036. But how much is Pepe Coin worth? The Pepe Coin price is $0.00000171 per token, as of writing.
However, at the beginning of May 2023, Pepe Coin saw a staggering rise in value, reaching a peak of $0.00000431. The trader using the wallet dimethyltryptamine.eth, skimmed the cream off such volatility spikes. Spending initially $260 to obtain 5.9 trillion PEPE tokens, the trader sold 56% of their holdings at the peak and made over $4 million in profit. But don’t forget that it’s just a memecoin, which gets hype only based on some unpredictable factors, and the uptrend can easily break. Before investing in any cryptocurrency, including Pepe Coin, conducting thorough research is vital.
Of course, of course, there are other perks to owning a memecoin besides their prospective investment allure. Memecoins, PEPE included, are fun to be around. They offer an engaging way to participate in the community. And, in fact, community is the main driver behind the adoption of such coins.
Here’s what the PEPE creators stated on their website:
“Launched stealth with no presale, zero taxes, LP burnt and contract renounced, $PEPE is a coin for the people, forever. Fueled by pure memetic power, let $PEPE show you the way.”
So, if you’re into crypto for the spirit, not only for the money, this investment might be right for you.
Who created Pepe Coin?
Currently, the founders of Pepe Coin maintain anonymity, a practice frequently observed within the cryptocurrency realm. Despite limited details about the project’s team, they have effectively gained recognition by leveraging social media platforms like Twitter to endorse their memecoin and cultivate a dedicated community around it.
However, analysts have raised concerns regarding Pepe Coin's ownership. Based on the tweet provided by the blockchain analytics service Lookonchain, it is reported that five addresses believed to be associated with the Pepe Coin team generated a profit of $1.23 million in a market with low liquidity. These addresses acquired 8.87 trillion PEPE tokens at a relatively low price and subsequently sold more than 90% of their holdings on Uniswap, resulting in a significant gain.
What does PEPE have to do with the Pepe the Frog meme?
Do you feel like Pepe Coin draws some inspiration from the widely recognized Pepe the Frog meme? You’re right! Interestingly, Matt Furie, the creator of the legendary meme, has not pursued copyright claims against the coin’s issuers thus far.
The official Pepe Coin website, though, explicitly states that the crypto project is not associated with Matt Furie, the creator of Pepe the Frog. The Pepe Coin project and its native token are solely a fan-driven platform, aiming to enhance the utility and success of the renowned frog character.
How many PEPE tokens are there?
The total PEPE supply is 420,690,000,000,000 (ha-ha). That creates a finite quantity contributing to its inherent rarity, pushing the Pepe Coin market cap above $616 million, as of May 2023. PEPE has a no-tax policy. It offers a redistributive system rewarding long-term stakers. And to further bolster its scarcity, Pepe Coin incorporates a burning mechanism. Liquidity Provider tokens are intentionally burned, effectively removing them from circulation.
The developers of the PEPE memecoin wanted to ensure that the token’s debut on crypto trading platforms would be as fair as possible. To do this, they allocated 93.1% of the total supply of tokens to liquidity for sales. This means that the vast majority of tokens were available to be bought and sold by the public, rather than the lion’s share of the tokens being held by a small group of insiders. In the case of PEPE, the remaining 6.9% of tokens are held in a multi-sig wallet, which can only be accessed if multiple people approve. This is how the developers ensured that they won’t be able to control the price of the token or manipulate the market.
Pepe Coin price prediction
Predicting the future price of PEPE is challenging. However, certain factors may influence its price. Firstly, the continued growth in popularity of the Pepe the Frog meme could generate increased demand for Pepe Coin. The development of user-friendly features could also enhance its accessibility and appeal. Plus, the coin’s inherent volatility may persist. And that results in significant price swings, both positive and negative.
Will PEPE reach $1? That is the question. If it does, the PEPE market cap would be an absurd $420.69 trillion, which is more money than currently exists. But to gauge Pepe Coin’s historical price movements and trends, individuals can refer to the PEPE price chart. It’s crucial to remember that past performance does not guarantee future results.
As you can see, the chart shows a huge spike in the middle of May. However, this 80% surge in the coin’s price within a 24-hour period resulted in substantial losses for any traders with short positions.
According to CoinGlass data on liquidated positions, shorts against PEPE on various exchanges have incurred significant losses, amounting to at least $16 million on May 5. Among these exchanges, OKX alone recorded the highest individual losses, with traders witnessing a total loss of $11 million.
So, this recent market activity serves as a reminder of the inherent volatility and risks associated with trading cryptocurrencies and memecoins in particular. Be cautious.
Conclusion
What is the hottest memecoin right now? Of course, PEPE! But, in general, all memecoins are fun to be around. They are people-oriented and their developers love to inject humor into their branding. Plus, all the supporters can contribute their own memes, artwork, or ideas related to the project — as well as interact with like-minded cryptonians. Want to get your hands on some Pepe potion? Here’s your chance!
