What is Pepe? (PEPE)

Genesis and Launch (Early 2023)

PEPE was launched as a meme-inspired cryptocurrency, quickly attracting attention for its viral branding and explosive price action, but faced early scrutiny over token distribution.

Key Events:

• PEPE token launched in early 2023, inspired by the Pepe the Frog meme.
• Initial distribution raised questions over fairness and transparency.
• Bubblemaps later alleged ~30% of genesis supply bundled under a single entity.

Early Growth and Viral Momentum (2023–2024)

PEPE experienced rapid market adoption, with surging trading volumes and a growing community. Its meme status fueled speculative demand and attracted retail and whale investors.

Key Events:

• PEPE gained popularity across social media and crypto platforms.
• Trading volumes surged, indicating both retail and whale participation.
• Price volatility and frequent rallies established PEPE as a leading memecoin.

Market Maturity and Whale Activity (Mid to Late 2024)

PEPE saw increased liquidity, sophisticated trading, and large holders influencing price. Whale accumulation and trading patterns became central to its market dynamics.

Key Events:

• Whale accumulation increased among top Ethereum addresses.
• Significant price rallies and pullbacks tied to whale trading activity.
• PEPE futures open interest grew, with derivatives markets actively trading.

Volatility and Sector-Wide Turmoil (2025)

PEPE faced heightened volatility, with sharp price drops amid broader memecoin market sell-offs. Whale selling, profit-taking, and macroeconomic factors drove price swings.

Key Events:

• PEPE suffered several multi-day price declines, underperforming the broader crypto market.
• Whale selling and profit-taking led to increased volatility and trading volumes.
• Sector-wide turmoil saw memecoins drop over 20% in a day; long-term holders began accumulating.

Security Challenges and Insider Scrutiny (Late 2025)

PEPE endured security incidents and renewed concerns about insider control, prompting investor caution and impacting sentiment within the memecoin sector.

Key Events:

• PEPE's website was exploited, redirecting users to malware.
• Bubblemaps report highlighted possible insider bundling of genesis supply.
• Market concerns over insider control resurfaced as sector matured.

Resurgence and Market Expansion (Early 2026)

PEPE led a new meme coin rally, posting double-digit gains and contributing to a $33.8 billion sector market cap. Renewed speculative interest signaled a potential 'meme season.'

Key Events:

• PEPE posted a 23% price increase, leading the memecoin surge.
• Memecoin market cap grew by $3 billion in a single day.
• CoinGecko's GMCI Meme Index reported $33.8 billion market value and $5.9 billion trading volume.
• Interest in meme-focused DEXs like MemeMax_Fi increased alongside PEPE's rally.

PEPE is a leading memecoin in the cryptocurrency market, known for high volatility, strong community engagement, and a dynamic tokenomic model. Discover its characteristics, tokenomics, and latest market trends.

Introduction and Market Position (2023-2026)

Summary: PEPE quickly emerged as a prominent memecoin, achieving substantial market capitalization and trading volumes amid the broader rise in meme-inspired cryptocurrencies.

• Launched during the surge of meme coins, PEPE captured investor attention with its viral branding and appeal to internet culture.
• By early 2026, PEPE was among the top memecoins, as highlighted by the $33.8 billion GMCI Meme Index market value and $5.9 billion in daily trading volume (source).
• PEPE led notable rallies, such as a 23% increase in early 2026, reinforcing its status as a market driver in meme coin cycles.

Tokenomics and Supply Distribution

Summary: PEPE's tokenomics feature a large total supply, community-driven distribution, but have faced scrutiny over alleged insider allocations and concentrated holdings.

• PEPE was initially marketed as a fair launch token, with no presale and a fixed maximum supply.
• Concerns have been raised about supply concentration; on-chain analysis by Bubblemaps suggested nearly 30% of genesis supply was controlled by a single entity (reference).
• Despite these concerns, the majority of trading is retail-driven, with whales and large holders occasionally impacting price volatility.

Market Activity and Trading Behavior (2025-2026)

Summary: PEPE experiences high volatility, with whale trading activity, speculative rallies, and large trading volumes contributing to frequent price swings.

• PEPE is favored among high-frequency traders and leveraged trading strategies, as illustrated by notable stories like James Wynn's leveraged trading gains and losses.
• Significant price moves often coincide with whale accumulation or selling, with the top 100 Ethereum addresses sometimes increasing their PEPE holdings during market dips.
• Trading volumes frequently spike during both rallies and sell-offs, reflecting its popularity for short-term speculation (see live price).

Security and Ecosystem Risks

Summary: PEPE has faced security challenges, including website exploits and concerns over centralized control, highlighting the need for caution among investors.

• The official PEPE website suffered a front-end attack in late 2025, redirecting users to malware. Users were advised to avoid the site until resolved (official X account).
• Community vigilance and reliance on reputable platforms are essential for safe trading and holding of PEPE tokens.
• Despite risks, PEPE maintains a strong community and active development, regularly updating users via its official channels.

Current Trends and Outlook (2026)

Summary: PEPE remains a major player in the memecoin sector, showing resilience amid market volatility and continuing to attract significant investor interest.

• As of early 2026, PEPE continues to show robust trading activity, with the memecoin sector rebounding and speculation of a new 'meme season' underway.
• While PEPE is subject to sharp price swings, long-term holders and whale accumulation suggest ongoing investor confidence.
• The token's future will depend on market sentiment, regulatory developments, and ongoing community engagement.