What is Pepe Coin?
In Eritrea, the PEPE Coin is making its mark on the crypto scene. Launched in April 2023, PEPE Coin is one of the latest memecoins gaining popularity among investors in Eritrea. Memecoins, digital currencies inspired by internet memes, have seen significant interest from investors globally, despite questions regarding their long-term value. Prominent figures like Elon Musk have boosted memecoins, proving their potential for impressive returns. Among these memecoins, $PEPE is garnering particular attention.
How to Buy Pepe Coin
People in Eritrea interested in buying PEPE Coin will need to create a Binance account. This is the first step and requires identity verification with the cryptocurrency exchange. They can sign up on the Binance platform using their email or phone number and provide personal account details.
Once the account is set up and verified, you can buy PEPE Coin from Eritrea by clicking on the "Buy Crypto" link on the Binance website. They can use their Visa or MasterCard, or use the platform's peer-to-peer service, which allows buying PEPE directly from other users with AUD or other currencies.
After the transaction, PEPE coins can be stored in a personal crypto wallet or the Binance account, with the former recommended for better security.
How Pepe Coin Works
The PEPE Coin operates on a deflationary model, with a total supply capped at 420,690,000,000 tokens. A minor percentage of tokens are destroyed with each transaction, enhancing the scarcity and potential value of the remaining tokens. Furthermore, it also features a redistribution model where part of each transaction is distributed to existing token holders.
The PEPE Coin has been gaining popularity in Eritrea due to large-scale purchases, primarily publicized on social media platforms like Twitter. The development plan for PEPE Coin consists of three stages: the launch, the promotion via Twitter, fostering community partnerships and securing listings on top-tier exchanges, and eventually establishing a Pepe Academy and promoting Pepe merchandise.
Background of Pepe the Frog
The coin is based on the internet meme character, Pepe the Frog, which was created by Matt Furie for his comic book "Boy's Club." The character was extensively shared on social media, but was misappropriated during the 2016 U.S. presidential election for memes promoting hate speech and racist ideologies. Furie has since collaborated with the Anti-Defamation League (ADL) to reinstate the character’s original, more positive image, including a “Save Pepe” campaign. Despite having the legal rights to claim compensation for commercial use of his creation, Furie does not appear to be actively pursuing copyright claims against the creators of PEPE Coin.