PEPE Coin Explained: Supply, Tokenomics and Why It Took Off in 2023
PEPE launched in April 2023 with a total supply of 420.69 trillion tokens, 93.1% of which went into the liquidity pool with the LP tokens burned and the contract renounced. It describes itself as having no formal team or roadmap and no intrinsic value, and it passed a $420 million market cap in about three weeks.
PEPE is a clean example of a memecoin built on culture and a fair-looking launch. Studying its structure teaches you what a launch that avoids obvious traps looks like, and also what such a launch cannot promise.
Key facts
| Fact | Detail |
|---|---|
| Launch | Mid-April 2023, first on-chain entry on Etherscan on April 18 |
| Chain | Ethereum (ERC-20 token) |
| Total supply | 420,690,000,000,000 (420.69 trillion) |
| Liquidity share | 93.1% of supply into the liquidity pool |
| LP tokens | Burned |
| Contract | Renounced (no owner powers) |
| Reserve | 6.9% in a multi-signature wallet for listings, liquidity and bridges |
Why the structure mattered
Many memecoin scams share the same flaw: the creator keeps the LP tokens or a large supply and can remove the market. PEPE's launch removed those routes:
- Most of the supply in the pool. Only 6.9% was held back, so the creators could not dump a huge bag.
- LP tokens burned. Nobody can withdraw the pool. See lock vs burn.
- Renounced contract. No owner function to blacklist, mint or change taxes.
Those are the same points in our rug pull checklist. They reduce certain risks. They do not decide whether anyone will want the coin tomorrow.
The meme and its owner
Pepe the Frog is a cartoon character created by cartoonist Matt Furie, first appearing in 2005 in the comic Boy's Club, and later spread as an internet meme. According to the project, the coin has no association with Furie or the character and aims to honor a widely recognized meme. The creators of the token are not named, and the website says there is "no formal team or roadmap".
Growth and risk
- It passed a $420 million market cap within about three weeks of launch and entered the top 100 cryptocurrencies.
- On May 1, 2023, it rose more than 100% in a single day.
- It listed on exchanges including Huobi, MEXC and OKX, and traded on Uniswap.
- The project's official channels warned of "dusting" scams that impersonated it.
The website's own wording is "no intrinsic value or expectation of financial return" and "entertainment only". That is as direct as a memecoin gets, and it is worth reading literally. See the memecoin primer.
A caution on stories of huge returns
One widely repeated story is of a tiny position reportedly turning into a seven-figure sum. Such stories are about paper value: if the pool is small compared with the position, selling it all would move the price far below the screen number. See market cap vs liquidity. The usual outcome for the copycats that followed PEPE was far worse than the original.
Applying it to Elysium coins
- Check the share of supply in the pool at launch, not only the market cap.
- Check whether LP is burned or locked.
- Check whether the contract is renounced and for hidden functions.
- Check the top holders. See holder concentration.
- Ask what gives people a reason to keep holding. For PEPE it was the meme; for most copies, nothing.
Where it stands
PEPE appears in the top five memecoins in CoinCentral's September 16, 2026 list at about $1.41 billion. See the full ranking.
Sources
- CryptoPotato: What is PEPE (figures are from its May 2023 snapshot)
- CoinCentral: Memecoin statistics 2026
Numbers and dates were checked on November 11, 2026 and can change. Nothing here is financial advice.
FAQ
What is PEPE's total supply?
420.69 trillion tokens, with 93.1% put into the liquidity pool at launch.
Is PEPE affiliated with Pepe the Frog's creator?
The project states it has no association with Matt Furie or the character and aims to honor a widely known meme.
Why does burned LP and a renounced contract matter?
Burned LP means no one can withdraw the pool, and a renounced contract means no owner can change the token's rules, which removes common rug pull routes.
Does a safe launch structure mean the price will hold?
No. It reduces specific risks, but demand still depends on attention, which can fade at any time.
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