Launched in April 2023, Pepe It only took a short time to become one of the most popular meme coins in the crypto world and one of the best alongside Doge, Shib and others. At the time of writing, Pepe ranks 30th among thousands of cryptocurrencies in terms of market capitalization.
However, additional information is necessary 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 as well as the future of the meme coin.
In this article, we will discuss the number of Pepe coins, the total supply of Pepe tokens in circulation, and what the future holds for this top meme coin.
Pepe’s piece
The “Pepe the Frog” meme came to life with the birth of Pepe, as the name of this coin is now taken in the same breath as prominent 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 prominent thanks to large influence on social media, virality and, most importantly, a loyal fan base. token holders.
Since its launch, Pepe has reached an all-time high of 0.00001730, which is almost a 2,600% pump. At the time of writing, Pepe is trading at 0.00001023, just 68% below its all-time high.
Total offer of Pepe parts
At the beginning, Pepe’s 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 the founding team cannot have a major impact on the price by adding more tokens to the Pepe’s total supply.
So the answer as to how many Pepe coins are in circulation is the same as its fixed supply, which is 420.69 trillion coins. However, to create more demand, the supply must be reduced and to this end, the Pepe founding team often periodically burns its token supply. Last month, October 24, 2023, 6.9 trillion tokens were burned which resulted in a 20% increase in the value of the Pepe token.
Why Pepe’s offer is important for investors
In today’s world we live in, a key metric on which we gravitate towards everything is based on supply and demand. The lower the supply, the higher the demand. Since Team Pepe does not issue new tokens and also periodically burns Pepe tokens as explained above, this makes this entire process an attractive deflationary mechanism for investors.
A fixed supply of tokens creates a scarcity that favors demand, which also has a positive impact on the price, since all other important factors such as market sentiment, trend and constant development remain in favor of the token Pepe.
Comparing Pepe’s offering with other cryptocurrencies
Meme coins require a strong community behind them to not only help them grow but also sustain themselves for a long time in this volatile cryptocurrency market. Although many meme coins enjoy a good fan base in the crypto world, few of them have the ideal set of token supply conditions to thrive in the long term.
Each meme coin has different supply dynamics and it is important to understand which one has the best supply mechanisms, as it plays an important role in the decision to invest in a meme coin project.
Here we will compare Pepe’s token offering to two of the most popular meme coins, Doge and Shiba Inu.
PEPE offer against DOGE
Dogecoin has a total supply of 146.38 billion tokens, but unlike Pepe, it is not fixed, meaning more Doge coins can be minted and added to the total Dogecoin supply. This is an inflationary model, while Pepe has a deflationary model, which may indicate that the demand for Pepe Coin may increase over time relative to Dogecoin, provided all other market conditions remain the same .
PEPE offer against SHIB
Shiba Inu is another popular dog coin, but it has the largest supply 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 implemented a burn mechanism which is a strategy similar to Pepe coin of periodically burning tokens to reduce supply and increase demand among investors.
Although Shib’s total supply is fixed, it is more than double Pepe’s fixed supply of 420.69 trillion, which could prove to be a long-term disadvantage given that other market conditions remain also the same.
FAQs
How many Pepe coins were initially issued?
Team Pepe has 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 also been allocated to maintaining good liquidity on centralized exchanges.
How many Pepe coins are mined daily?
Unlike the Doge coin, there is no mining mechanism for Pepe coins because the supply is fixed. This ensures that the demand for Pepe coins remains in line with market sentiment and is also a preventative measure against inflation.
Is it worth buying Pepe pieces?
Purchasing Pepe coin depends on your personal investment goals and risks. It is also important to keep the volatility, market sentiments, and general trend of crypto markets in mind before investing in Pepe token.