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Launched back in April 2023, Pepe took only a short time to become one of the most popular meme coins in the world of crypto and one of the top ones alongside the likes of Doge, Shib, and others. At the time of writing, Pepe sits at the 30th rank among thousands of cryptocurrencies in terms of market capitalization.
However, additional info is needed for any investor to make an informed buying or selling decision. Meme coins have different supply dynamics that include token burns, which can impact price trends and also the future of the meme coin.
In this article, we will discuss how many Pepe coins are there, the total Pepe token circulating supply, and what the future holds for this top-tier meme coin.
Table of Contents
Pepe coin explained
‘Pepe the Frog’ meme came to life with the birth of Pepe as this meme coin’s name is now taken in the same breath as the top-tier memes including DOGE, WIF, and SHIB.
While most cryptocurrency projects have a tangible use case that affects their price in the crypto world, Pepe, like other meme coins has not only survived but also become big due to a large social media influence, virality, and most importantly, a loyal fan base of token holders.
Since its launch, Pepe has seen an all-time high of 0.00001730 which is almost a 2600% pump. At the time of writing, Pepe is trading at 0.00001023 which is only 68% below its all-time high.
Total supply of Pepe coins
At the start, the Pepe circulating supply was 420.69 trillion tokens, and no additional tokens were added to this supply after the token’s launch. This is great because a fixed supply means that price cannot be majorly impacted by the founding team by adding more tokens to the total supply of the Pepe.
So the answer to how many Pepe coins are in circulation is the same as its fixed supply, i.e. 420.69 trillion coins. However, to further create demand, supply has to be reduced and for this purpose, the Pepe founding team often burns its token supply periodically. Last month on October 24, 2023, 6.9 trillion tokens were burned which led to a 20% rise in the Pepe token’s value.
Why Pepe’s supply matters to investors
In the current world we live in, a key metric on which we attract to everything is based on supply and demand. The lower the supply, the higher the demand for it. Since the Pepe team is not issuing any new tokens and also burning Pepe tokens periodically as explained above, it makes this whole process a deflationary mechanism which is attractive for investors.
A fixed supply of tokens creates scarcity which promotes demand, that also has a positive impact on price, considering all other important factors like market sentiments, trend, and constant development, remain in favor of the Pepe token.
Comparing Pepe’s supply to other cryptocurrencies
Meme coins require a strong community behind them to not only help them grow but also sustain for a long time in this volatile cryptocurrency market. While many meme coins do enjoy a good fan base in the crypto world, not many have the ideal set of token supply conditions for them to thrive long term.
Every meme coin has different supply dynamics and it is important to understand which one has better supply mechanisms as it plays an important part when deciding to invest in any meme coin project.
Here we will compare Pepe’s token supply to two of the most popular meme coins, Doge and Shiba Inu.
PEPE vs. DOGE Supply
Dogecoin has a total supply of 146.38 billion tokens, however, unlike Pepe, it is not fixed, which means more Doge coins can be minted and added to the total supply of Dogecoin. This is an inflationary model, while Pepe has a deflationary model, which may indicate that Pepe coin’s demand can increase over time as compared to Dogecoin, provided all other market conditions remain the same.
PEPE vs. SHIB Supply
Shiba Inu is another popular dog meme coin, but it has the largest supply when compared to Doge and Pepe, currently standing at 999.98 trillion tokens of which 589.26 trillion tokens are in circulation. The Shiba Inu team has a burn mechanism in place which is a similar strategy to the Pepe coin of burning tokens periodically to lower supply and increase demand among investors.
While Shib’s total supply is fixed, it is more than double of Pepe’s fixed supply of 420.69 trillion which may prove to be a disadvantage in the long run, considering other market conditions also remain the same.
FAQs
How many Pepe coins were initially released?
The Pepe team released 420.69 trillion coins which will remain fixed and no new tokens will be added to this fixed supply. A good portion of the token supply has been allocated for maintaining good liquidity on centralized exchanges as well.
How many Pepe coins are mined daily?
Unlike the Doge coin, there is no mining mechanism for Pepe coins as the supply is fixed. This ensures that the demand of Pepe coins stays at par with market sentiment, and also acts as a preventative measure against inflation.
Is it worth buying Pepe coin?
Buying the Pepe coin depends on your personal investment goals and risks. It is also important to keep in mind the volatility, market sentiments, and overall trend of the crypto markets before you invest in the Pepe token.
This article first appeared at crypto.news
