LaunchedbackinApril2023,PepetookonlyashorttimetobecomeoneofthemostpopularmemecoinsintheworldofcryptoandoneofthetoponesalongsidethelikesofDoge,Shib,andothers.Atthetimeofwriting,Pepesitsatthe30thrankamongthousandsofcryptocurrenciesintermsofmarketcapitalization.
However,additionalinfoisneededforanyinvestortomakeaninformedbuyingorsellingdecision.Memecoinshavedifferentsupplydynamicsthatincludetokenburns,whichcanimpactpricetrendsandalsothefutureofthememecoin.
Inthisarticle,wewilldiscusshowmanyPepecoinsarethere,thetotalPepetokencirculatingsupply,andwhatthefutureholdsforthistop-tiermemecoin.
TableofContents
Pepecoinexplained
‘PepetheFrog’memecametolifewiththebirthofPepeasthismemecoin’snameisnowtakeninthesamebreathasthetop-tiermemesincludingDOGE,WIF,andSHIB.
Whilemostcryptocurrencyprojectshaveatangibleusecasethataffectstheirpriceinthecryptoworld,Pepe,likeothermemecoinshasnotonlysurvivedbutalsobecomebigduetoalargesocialmediainfluence,virality,andmostimportantly,aloyalfanbaseoftokenholders.
Youmightalsolike:Whatarememecoins?
Sinceitslaunch,Pepehasseenanall-timehighof0.00001730whichisalmosta2600%pump.Atthetimeofwriting,Pepeistradingat0.00001023whichisonly68%belowitsall-timehigh.
Pepeall-timepricechart|Source:TradingView
TotalsupplyofPepecoins
Atthestart,thePepecirculatingsupplywas420.69trilliontokens,andnoadditionaltokenswereaddedtothissupplyafterthetoken’slaunch.ThisisgreatbecauseafixedsupplymeansthatpricecannotbemajorlyimpactedbythefoundingteambyaddingmoretokenstothetotalsupplyofthePepe.
SotheanswertohowmanyPepecoinsareincirculationisthesameasitsfixedsupply,i.e.420.69trillioncoins.However,tofurthercreatedemand,supplyhastobereducedandforthispurpose,thePepefoundingteamoftenburnsitstokensupplyperiodically.LastmonthonOctober24,2023,6.9trilliontokenswereburnedwhichledtoa20%riseinthePepetoken’svalue.
WhyPepe’ssupplymatterstoinvestors
Inthecurrentworldwelivein,akeymetriconwhichweattracttoeverythingisbasedonsupplyanddemand.Thelowerthesupply,thehigherthedemandforit.SincethePepeteamisnotissuinganynewtokensandalsoburningPepetokensperiodicallyasexplainedabove,itmakesthiswholeprocessadeflationarymechanismwhichisattractiveforinvestors.
Afixedsupplyoftokenscreatesscarcitywhichpromotesdemand,thatalsohasapositiveimpactonprice,consideringallotherimportantfactorslikemarketsentiments,trend,andconstantdevelopment,remaininfavorofthePepetoken.
ComparingPepe’ssupplytoothercryptocurrencies
Memecoinsrequireastrongcommunitybehindthemtonotonlyhelpthemgrowbutalsosustainforalongtimeinthisvolatilecryptocurrencymarket.Whilemanymemecoinsdoenjoyagoodfanbaseinthecryptoworld,notmanyhavetheidealsetoftokensupplyconditionsforthemtothrivelongterm.
Everymemecoinhasdifferentsupplydynamicsanditisimportanttounderstandwhichonehasbettersupplymechanismsasitplaysanimportantpartwhendecidingtoinvestinanymemecoinproject.
HerewewillcomparePepe’stokensupplytotwoofthemostpopularmemecoins,DogeandShibaInu.
PEPEvs.DOGESupply
Dogecoinhasatotalsupplyof146.38billiontokens,however,unlikePepe,itisnotfixed,whichmeansmoreDogecoinscanbemintedandaddedtothetotalsupplyofDogecoin.Thisisaninflationarymodel,whilePepehasadeflationarymodel,whichmayindicatethatPepecoin’sdemandcanincreaseovertimeascomparedtoDogecoin,providedallothermarketconditionsremainthesame.
PEPEvs.SHIBSupply
ShibaInuisanotherpopulardogmemecoin,butithasthelargestsupplywhencomparedtoDogeandPepe,currentlystandingat999.98trilliontokensofwhich589.26trilliontokensareincirculation.TheShibaInuteamhasaburnmechanisminplacewhichisasimilarstrategytothePepecoinofburningtokensperiodicallytolowersupplyandincreasedemandamonginvestors.
WhileShib’stotalsupplyisfixed,itismorethandoubleofPepe’sfixedsupplyof420.69trillionwhichmayprovetobeadisadvantageinthelongrun,consideringothermarketconditionsalsoremainthesame.
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