Launched back in April 2023, Pepe took only a short time to become one of the most popular meme coins in the world of crypto and one of the top ones alongside the likes of Doge, Shib, and others. At the time of writing, Pepe sits at the 30th rank among thousands of cryptocurrencies in terms of market capitalization. 

However, additional info is needed for any investor to make an informed buying or selling decision. Meme coins have different supply dynamics that include token burns, which can impact price trends and also the future of the meme coin.

In this article, we will discuss how many Pepe coins are there, the total Pepe token circulating supply, and what the future holds for this top-tier meme coin.

Pepe coin explained 

‘Pepe the Frog’ meme came to life with the birth of Pepe as this meme coin’s name is now taken in the same breath as the top-tier memes including DOGE, WIF, and SHIB.

While most cryptocurrency projects have a tangible use case that affects their price in the crypto world, Pepe, like other meme coins has not only survived but also become big due to a large social media influence, virality, and most importantly, a loyal fan base of token holders.

Since its launch, Pepe has seen an all-time high of 0.00001730 which is almost a 2600% pump. At the time of writing, Pepe is trading at 0.00001023 which is only 68% below its all-time high.

Total supply of Pepe coins 

At the start, the Pepe circulating supply was 420.69 trillion tokens, and no additional tokens were added to this supply after the token’s launch. This is great because a fixed supply means that price cannot be majorly impacted by the founding team by adding more tokens to the total supply of the Pepe. 

So the answer to how many Pepe coins are in circulation is the same as its fixed supply, i.e. 420.69 trillion coins. However, to further create demand, supply has to be reduced and for this purpose, the Pepe founding team often burns its token supply periodically. Last month on October 24, 2023, 6.9 trillion tokens were burned which led to a 20% rise in the Pepe token’s value.

Why Pepe’s supply matters to investors

In the current world we live in, a key metric on which we attract to everything is based on supply and demand. The lower the supply, the higher the demand for it. Since the Pepe team is not issuing any new tokens and also burning Pepe tokens periodically as explained above, it makes this whole process a deflationary mechanism which is attractive for investors.

A fixed supply of tokens creates scarcity which promotes demand, that also has a positive impact on price, considering all other important factors like market sentiments, trend, and constant development, remain in favor of the Pepe token. 

Comparing Pepe’s supply to other cryptocurrencies 

Meme coins require a strong community behind them to not only help them grow but also sustain for a long time in this volatile cryptocurrency market. While many meme coins do enjoy a good fan base in the crypto world, not many have the ideal set of token supply conditions for them to thrive long term.

Every meme coin has different supply dynamics and it is important to understand which one has better supply mechanisms as it plays an important part when deciding to invest in any meme coin project. 

Here we will compare Pepe’s token supply to two of the most popular meme coins, Doge and Shiba Inu.

PEPE vs. DOGE Supply

Dogecoin has a total supply of 146.38 billion tokens, however, unlike Pepe, it is not fixed, which means more Doge coins can be minted and added to the total supply of Dogecoin. This is an inflationary model, while Pepe has a deflationary model, which may indicate that Pepe coin’s demand can increase over time as compared to Dogecoin, provided all other market conditions remain the same. 

PEPE vs. SHIB Supply

Shiba Inu is another popular dog meme coin, but it has the largest supply when compared to Doge and Pepe, currently standing at 999.98 trillion tokens of which 589.26 trillion tokens are in circulation. The Shiba Inu team has a burn mechanism in place which is a similar strategy to the Pepe coin of burning tokens periodically to lower supply and increase demand among investors. 

While Shib’s total supply is fixed, it is more than double of Pepe’s fixed supply of 420.69 trillion which may prove to be a disadvantage in the long run, considering other market conditions also remain the same.

FAQs

A widely followed crypto strategist and trader believes that steep rallies are in store for one Solana (SOL) challenger.

Pseudonymous analyst The Crypto Dog tells his 829,200 followers on the social media platform X that layer-1 chain Sui (SUI) may be poised to witness huge bursts to the upside after printing a new all-time high (ATH).

With blue skies ahead for SUI, the trader thinks it is within the realm of possibility for the altcoin to go vertical.

“We gonna see a proper parabolic ATH break run?” 

At time of writing, SUI is worth $2.32 slightly below its new all-time high recorded just hours ago.

Turning to the memecoin Pepe (PEPE), the trader thinks it is gearing up to take out its diagonal resistance and spark a new leg up.

“PEPE wants to start something.” 

At time of writing, PEPE is trading at $0.00000962, still below the analyst’s diagonal resistance.

Looking at fellow memecoin dogwifhat (WIF), the trader thinks the altcoin needs to overcome one downward resistance line to ignite rallies to fresh all-time highs.

“ATH run?”

 At time of writing, WIF is trading for $2.63, hovering close to the trader’s diagonal resistance.

As for Bitcoin, the trader says BTC is very close to witnessing a proper bull market.

“We break $63,500 it’s gonna be no items long only final destination.” 

At time of writing, Bitcoin is worth $62,682.

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During Monday’s trading session, the Pepe coin price saw a 3% drop, retesting the crucial $0.00001 support level. This bearish movement aligned with Bitcoin’s fall below the $65,000 mark, sparking a corrective phase across several major altcoins. Despite this, PEPE is set for a sharp recovery, driven by accumulation and the completion of a bullish pattern.

Can PEPE Coin Price Surge to $0.000015 by October?

Within a month, the PEPE coin price rallied $0.00000633 to $0.0000119— an 89% increase. This bullish reversal managed to reclaim crucial daily EMAs (20, 50, 100, and 200), signaling a positive change in market sentiment.

A deeper analysis of the daily chart shows this reversal breached the resistance trendline of a falling wedge pattern. This chart pattern drove a steady correction within two converging trendlines for four months before offering a breakout.

The post-rally aligned with the late September rally pushed the asset to a $0.0000119 high before reverting to $0.0000108. The coin price is poised for temporary consolidation or pullback to $0.00001 and recuperates the bullish momentum.

The post-breakout rally could bolster the asset for $0.0000135 before surpassing the $0.000015 mark.

According to Santiment data, large wallet holders possessing between 100 million and 1 billion PEPE coins have actively accumulated, pushing their holdings to a staggering 13.51 trillion coins. This significant increase in accumulation suggests that whales are positioning themselves for a potential price surge, indicating growing confidence in future price growth.

Check out the article on top meme coins to buy for a detailed analysis.

PEPE Coin Faces Potential Downturn as 30-Day MVRV Hits 38.7%

The Santiment analytics shows the 30-day MVRV (Market Cap to its Realized Cap) ratio recently spiked to 38.7%, indicating that short-term traders are in profit. Typically, the high value coincides with the market top, and speculative traders commence profit booking,

Thus, if the Pepe coin price breaks below the $0.00001 support, the sellers could accelerate the bearish momentum for the prolonged fall.

Conclusion: 

If the PEPE price post-rally correction manages to sustain above the $0.00001 level by mid-October, a recovery toward $0.000015 is likely.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.