What is Pepe coin (PEPE)?

Pepe coin (PEPE) is a meme coin built as a token on Ethereum and named after the Pepe the Frog internet meme. It has no product, business or cash flow behind it. Its own website describes it as a token for entertainment with no expected financial return.

What is Pepe crypto and where did it come from?

PEPE went live on April 17, 2023, according to Decrypt. The project says it launched "stealth," meaning there was no presale or advance announcement before trading began.

The frog image comes from a comic character created by artist Matt Furie in 2005. The PEPE website states plainly that the coin has no association with Furie or his character. The project pitches itself as a frog answer to the dog-themed coins that came before it, such as Shiba Inu.

Like other meme coins, PEPE's price depends on attention and trading interest rather than any underlying asset.

How does the PEPE token on Ethereum work?

PEPE is an ERC-20 token, the standard format for fungible tokens on Ethereum. That means it can be held in any Ethereum wallet and swapped on decentralized exchanges.

Key details, as of October 2026:

• Supply. Etherscan shows a maximum total supply of about 420.69 trillion PEPE, a number that nods to internet joke culture.
• No transaction tax. The website says buying and selling carry no built-in token tax, unlike some meme coins that skim a fee on every trade.
• Burned liquidity. The project says the tokens representing its original liquidity pool were burned, so they cannot be withdrawn to drain the pool.
• Renounced contract. Ownership of the token contract was given up, so no one can change its code or mint more tokens.

The website also states there is "no formal team or roadmap," even though it displays a lighthearted three-phase plan.

What happened with the PEPE multisig wallet?

Part of the supply sat in a multisig wallet, which requires several people to approve a transfer. In August 2023, The Block reported that about 16 trillion PEPE, roughly 4% of the total supply, left that wallet and was sent to large exchanges and sold.

The remaining team member said three former members changed the wallet's signing rules without proper approval, moved the tokens, then deleted their social media accounts. About 10 trillion tokens remained, and the spokesperson said they would be moved and later burned. The episode is often cited as an example of insider risk in meme coins.

Is the PEPE meme coin regulated?

In the US, SEC staff said in February 2025 that typical meme coins are not securities, because buyers do not share in a business or rely on a team's managerial work. The staff noted that holders therefore are not protected by federal securities laws. Fraud can still be pursued by other federal and state authorities.

The statement is a staff view, not a formal rule, and it does not cover tokens dressed up as meme coins to disguise an investment offering.