How the cryptocurrency PEPE changed the perception of memecoins

Once little-known, the PEPE cryptocurrency has become one of the leading memecoin segments. As of September 2025, PEPE ranks among the top three memecoins, following Dogecoin (DOGE) and Shiba Inu (SHIB), and holds the 32nd spot in the overall cryptocurrency ranking by market capitalization, which amounts to $4.4 billion.

Just three weeks after its launch, PEPE appeared on major crypto exchanges, and its price has since surged by almost 100 million percent, making its first investors fabulously wealthy.

The success of the token featuring the famous meme frog gave rise to dozens of followers, such as Brett (BRETT), BOOK OF MEME (BOME), and Turbo (TURBO), who tried to replicate PEPE's achievement, though not all succeeded.

How PEPE appeared and why it became so popular

The story of PEPE at first glance looks typical for memecoins: it all started in April 2023 with the creation of a Twitter profile containing only one image of the popular Pepe the Frog meme and a caption referencing Donald Trump's famous phrase "Make Memecoins Great Again."

In the same month, the PEPE token was launched on the Ethereum blockchain in ERC-20 format, which is the standard for digital assets on this network. Like the first memecoin, DOGE, PEPE was created as a joke, with no specific goals pursued by its developers. The creators followed the example of Shiba Inu and issued an enormous supply of 420 trillion PEPE.

However, unlike Shiba Inu, PEPE was originally conceived as an "empty shell," what the Web segment often calls "shitcoins," i.e., useless coins:

• The token has no utility functions;
• The project has no development roadmap;
• No breakthrough technology backs PEPE;
• The creators never promised investors any profit.

Initially, a liquidity pool was launched for trading the token on the decentralized exchange (DEX) Uniswap. PEPE quickly became one of the most discussed cryptocurrencies on social networks, partly thanks to hype from crypto influencers. Elon Musk also contributed by repeatedly posting about Pepe memes on Twitter.

Just three weeks after trading began, PEPE appeared on large centralized exchanges, and its capitalization exceeded $1.6 billion without any utility or working product — something even many major crypto projects with strong technological foundations failed to achieve. This happened despite an unfavorable market situation. At its peak in December 2024, PEPE's market capitalization exceeded $11 billion. At that point, the memecoin even surpassed Litecoin (LTC) and Uniswap (UNI).

Because of this, PEPE became a true phenomenon in the crypto market. The exact reason for the hype remains unclear: the popularity of the meme, the rapid price surge, or the viral effect of social networks. Experts believe all factors played a role simultaneously. Moreover, the effect was amplified by FOMO (Fear of Missing Out), which pushed investors to buy the asset out of fear of missing profit.

PEPE perfectly reflected the essence of such assets: memecoins are community-driven projects whose main driving force is the community itself and its key tools — social networks.

Following PEPE, almost all new memecoin projects adopted the same model: no utility — only humor, simplicity, and community. Such tokens are maximally understandable for beginner crypto users, who struggle to grasp the complex structure of the crypto market and its technologies.

PEPE — a cryptocurrency with a future or without prospects?

Memecoins became one of the main trends of 2024–2025, emerging as one of the fastest-growing segments, although "meme coins" account for less than 2% of the entire crypto market capitalization. Over the past year alone, the market capitalization of memecoins has grown by almost 90% — from $38 billion to $72 billion.

Moreover, memecoins not only became a standalone segment but also significantly influenced network activity on major blockchains such as Solana and BNB Chain, which became leaders in the number of memecoins launched on them. And one of those who set the memecoin trend is PEPE. Optimistic analysts believe PEPE has become a symbol of the era, just like Dogecoin once did.

The PEPE cryptocurrency has transformed from an ordinary memecoin into a cultural catalyst that led to the emergence of themed NFT collections, online games, and even comics using the memecoin as a payment method. Thanks to its engaged community, PEPE gained real-world use cases and became a utility token. This attracted even more attention to the project.

As for forecasts, analysts are divided: some believe the memecoin has potential and will continue to grow in price, while others remain skeptical and predict its inevitable collapse.

According to analysts' estimates, if the upward trend continues, the price of PEPE could rise to $0.000013–$0.000019 by the end of the year, which is 25–90% higher than the current price. According to CoinCodex forecasts, PEPE's price could reach $0.000015–$0.000028 by 2030.

However, PEPE remains a speculative and highly volatile asset, carrying corresponding risks. Analysts note that PEPE does not follow the usual market rules traders are accustomed to and heavily depends on the sentiment of its dedicated community.