Crypto · Memecoin Breakdown · PEPE
PEPE.
And Why It Is Not On Solana.
The largest memecoin built on a character with a living author who never licensed it. What the token is, what the supply looks like, and the part nobody puts in the thread.
PEPE is an Ethereum ERC-20 memecoin built on the Pepe the Frog character, launched anonymously in April 2023 with a fixed supply of 420,690,000,000,000 tokens, no presale and an immutable contract. It is not a Solana token. It has no product, no revenue and no licence from Matt Furie, who created the character.
What PEPE Is
The token itself, and where it came from.
What It Is
PEPE is an Ethereum ERC-20 memecoin built on the Pepe the Frog character. It launched with no presale, no transaction tax, locked liquidity and an immutable contract, and it has no product, revenue or governance rights behind it.
Origin
Launched anonymously on Ethereum in April 2023. The character it uses was created by the cartoonist Matt Furie, who has no licensing arrangement with the token.
Supply
Fixed supply of 420,690,000,000,000 tokens, all circulating. Ethereum contract .
Chain
Ethereum ERC-20, bridged to BNB Chain, Arbitrum and Avalanche
The Record
Documented. Not a forecast.
All Time High
$0.00002803, 9 December 2024.
All Time Low
Not published here. The figure CoinGecko renders is six orders of magnitude above the all time high, which makes it a display artefact rather than a price. A wrong number from a good source is still a wrong number.
Event 1
April 2023, launched with a fixed supply, locked liquidity and an immutable contract.
Event 2
9 December 2024, reached its all time high of $0.00002803.
The Chart, And The Contract
The chart lives on DexScreener and will not render inside another page, so this links out to it rather than showing you a box that never loads. The contract sits beside it so you can check the chart is the token this page is about.
Check the contract against the chart before you trust either. On both chains there is always a different token using the same name.
The Lore
Fourteen dated events, from a 2005 comic strip to a 2026 fund filing. The largest memecoin built on a character whose creator spent years trying to take it back.
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2005
Pepe Debuts In Matt Furie's Comic Boy's Club
Cartoonist Matt Furie first drew the frog character Pepe in 2005, posting the strips that became the zine Boy's Club on Myspace before a printed edition followed in 2006. The character spread to 4chan from 2008 and became one of the most widely reproduced images on 4chan and Tumblr by around 2015. Source: Wikipedia, Pepe the Frog.
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September 2016
The Anti-Defamation League Adds Pepe To Its Hate Symbol Database
The Anti-Defamation League added Pepe to its hate symbol database in September 2016, while stating at the time that most uses of the image were not hate related. Furie responded with a #SavePepe campaign and, in 2017, drew a strip in which the character died. Source: Wikipedia, Pepe the Frog and Matt Furie.
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August 2017
Furie Settles His First Copyright Claim Over Pepe
Furie brought a federal copyright claim over the self-published children's book The Adventures of Pepe and Pede, which he said carried racist and Islamophobic themes. The matter settled in August 2017, with the author agreeing to stop selling the book and to donate the proceeds to the Council on American-Islamic Relations. Furie also used cease-and-desist letters and DMCA notices against other uses in this period. Source: Wikipedia, Matt Furie.
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June 2019
Infowars Pays $15,000 To Settle Furie's Copyright Suit
Furie sued Infowars in a Los Angeles federal court in early 2018 over a poster that placed Pepe alongside Alex Jones, Donald Trump and other figures. The settlement, announced on 10 June 2019 by Furie's counsel, required Infowars to pay $15,000, destroy remaining posters and stop selling Pepe merchandise. Sources: WilmerHale, 10 June 2019; The Hollywood Reporter, June 2019.
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2020
The Documentary Feels Good Man Reaches Cinemas
Arthur Jones's documentary Feels Good Man, which follows Furie's attempt to reclaim the character, premiered at the Sundance Film Festival on 27 January 2020 and had its United States release on 28 August 2020. It won a Sundance US Documentary Special Jury Award for emerging filmmaker and a 2021 Emmy for outstanding research. Source: Wikipedia, Feels Good Man.
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April 14, 2023
The PEPE Contract Is Deployed On Ethereum
Etherscan dates the contract creation for to 14 April 2023, which matches IQ.wiki's stated launch date; Decrypt instead dates the launch to 17 April 2023, so the exact first day of trading is reported inconsistently. Aggregators also disagree on the record low: CoinMarketCap lists an all time low of $0.00000000001063 on 14 April 2023, while CoinGecko lists $0.00000005514 on 17 April 2023. IQ.wiki reports that 93.1 per cent of supply went to a Uniswap pool with the LP tokens burnt, and 6.9 per cent to a multisignature wallet for listings and bridges. Sources: Etherscan; IQ.wiki; CoinMarketCap; CoinGecko; Decrypt.
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May 5, 2023
Binance Opens PEPE Trading In Its Innovation Zone
Binance announced on 5 May 2023 that it would list PEPE and FLOKI in its Innovation Zone, opening the PEPE/USDT and PEPE/TUSD spot pairs at 16:00 UTC the same day. The exchange initially postponed the start time before trading went live. Source: Binance exchange announcement, 5 May 2023.
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May 8, 2023
Furie Says He Had Not Heard Of Pepecoin
Asked about the token during a Twitter Spaces session promoting his Zogz art project, Furie said "Actually, this is the first I've heard of it. What is Pepecoin?" and joked that he was a Dogecoin maximalist. He has no licensing arrangement with the token and the project states it has no connection to him. Source: Protos, 9 May 2023.
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August 24, 2023
Sixteen Trillion PEPE Leave The Project Multisig
On 24 August 2023 roughly 16 trillion PEPE, about 60 per cent of the 26 trillion held in the project multisignature wallet and worth around $15m to $16m, was moved to exchanges after the signing threshold was changed from five of eight to two of eight. The remaining anonymous founder blamed three former team members who he said had removed themselves from the wallet, while on-chain analysts noted that five wallets signed the threshold change, which they said did not fit that account. PEPE fell about 15 per cent on the day; in October 2023 the project burned 6.9 trillion tokens worth roughly $5.5m, about 1.6 per cent of supply. Sources: Cointelegraph, 26 August 2023; CryptoSlate, 26 August 2023; CoinDesk, 24 October 2023.
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November 13, 2024
Robinhood And Coinbase Open United States Trading
Robinhood listed PEPE for United States customers on 13 November 2024, having already added it in Europe in February 2024, and Coinbase opened the PEPE-USD pair the same day at 11:30 ET. Upbit followed with a won market on 14 November 2024, taking more than 70bn won of volume in its first three hours. PEPE traded around $0.00001537 on 13 November, up about 40 per cent in 24 hours. Sources: The Block, 13 November 2024; The Crypto Times, 14 November 2024; Cryptonews, 14 November 2024; Crypto Briefing, 21 August 2026.
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December 9, 2024
Record Price And An $11 Billion Market Capitalisation
PEPE set its record on 9 December 2024, when Decrypt reported a market capitalisation of $11.37bn and said the token had passed Uniswap and Litecoin by that measure. Aggregators disagree on the peak price itself: CoinGecko records $0.00002803, CoinMarketCap $0.00002825 and Coinpaprika $0.00002829 at 16:33 UTC, while Decrypt's report on the day cited $0.00002708. Sources: Decrypt, 9 December 2024; CoinGecko; CoinMarketCap; Coinpaprika.
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October 14, 2025
Memecoin Sell-Off Cuts PEPE To About $3 Billion
CoinDesk reported PEPE at roughly $0.0000075 with a market capitalisation of about $3bn, down around 25 per cent on the week and 31 per cent for the year to date. It noted that on 10 October 2025 the token had fallen more than 30 per cent in an hour, with volume above 2.2 trillion tokens, during a wider crypto decline. Cointelegraph separately reported the memecoin sector at a 2025 low of $39.4bn, 66.2 per cent below its 5 January 2025 peak of $116.7bn. Sources: CoinDesk, 14 October 2025; Cointelegraph, October 2025.
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April 2026
Canary Capital Files For A Spot PEPE Exchange Traded Fund
Canary Capital filed a Form S-1 with the United States Securities and Exchange Commission for what would be the first United States spot PEPE exchange traded fund; The Defiant dates the filing to 8 April 2026 and crypto.news to 9 April 2026, so the day is reported inconsistently. The filing said the fund would hold PEPE with a third-party digital custodian and up to 5 per cent of portfolio value in Ether for fees, and flagged that as of January 2026 the ten largest PEPE addresses held about 41 per cent of circulating supply. Sources: The Defiant, 9 April 2026; crypto.news, 9 April 2026.
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September 2026
Price Around $0.0000035 And A Market Capitalisation Near $1.5 Billion
As of early September 2026 aggregators put PEPE between $0.00000345 and $0.00000366, with a market capitalisation of roughly $1.4bn to $1.5bn, about 87 per cent below the December 2024 record. Coinpaprika showed $0.0000034540 and $1.45bn as at 3 September 2026, CoinMarketCap $0.000003472 and $1.43bn, and CoinGecko $0.000003657 and $1.54bn; Etherscan shows total supply effectively unchanged at 420,689,899,645,535 PEPE across about 582,000 holders. Sources: Coinpaprika, 3 September 2026; CoinMarketCap; CoinGecko; Etherscan.
The Risks
Structural, and specific to this token.
Risk 1
The character is the work of a living artist with no licence granted to the token.
Risk 2
Anonymous issuer with no accountable entity behind it.
Risk 3
Bridged supply on several chains means bridge failures could affect holders.
Risk 4
No cash flows, treasury or product supports the token.
Every row in the timeline carries its own date and its own publication, and those are the sources. Supply, contracts, all time highs and all time lows come from CoinGecko, cross checked against CoinMarketCap and Coinpaprika. Where the aggregators disagree, both figures are printed and each is named in the row. Where a date is reported only as a month or a range it is written that way rather than narrowed. Direct quotations are reproduced from the reporting and attributed to the person who said them. Any price or market capitalisation in a row is a dated snapshot, not a live figure. Nothing on this page is a price forecast.
The Other Ethereum Breakdowns
The rest of this branch, one token at a time.
SHIB · Shiba Inu
Half The Supply Went To A Stranger.
TURBO · Turbo
A Language Model Designed It For $69.
MOG · Mog Coin
420.69 Trillion, Fairly Launched.
SPX · SPX6900
A Joke About The S&P That Went Up Seventeen Hundred Times.
The Ethereum NFTs
CryptoPunks, Bored Ape Yacht Club and Pudgy Penguins, on the same chain and in the same shape.
The Solana Breakdowns
The other half of the series, on the other chain.
TRUMP · Official Trump
OFFICIAL TRUMP is a Solana SPL token issued under the Trump brand by CIC Digital LLC and Fight Fight Fight LLC.
PENGU · Pudgy Penguins
PENGU is the Solana SPL token of the Pudgy Penguins NFT brand, issued by Igloo Inc.
BONK · Bonk
BONK is a Solana SPL memecoin launched in December 2022 by an anonymous group of Solana community contributors.
FARTCOIN · Fartcoin
Fartcoin is a Solana SPL memecoin that grew out of Truth Terminal, an AI chatbot built by researcher Andy Ayrey.
Common Questions
No. PEPE is an Ethereum ERC-20 at , with bridged versions on BNB Chain, Arbitrum and Avalanche. Solana tokens using the name exist and are not this token. Check the contract address before you touch anything.
PEPE is an Ethereum ERC-20 memecoin built on the Pepe the Frog character. It launched with no presale, no transaction tax, locked liquidity and an immutable contract, and it has no product, revenue or governance rights behind it.
A fixed 420,690,000,000,000, all circulating. There is no vesting schedule and no future unlock. Source: CoinGecko.
It reached $0.00002803 on 9 December 2024 according to CoinGecko. No all time low is published here because the figure CoinGecko renders for it is six orders of magnitude out and is a display artefact rather than a price.
No licence has been granted. The character was created by the cartoonist Matt Furie, who has pursued copyright actions over unauthorised uses of it for years. That is the same structural position as CHILLGUY and Shark Cat, at a much larger scale.
No. It is a breakdown of a token. Memecoins have no cash flows and most go to zero. Cody Wise is not a licensed financial advisor and nothing here is a recommendation to buy anything.
The Chain Matters.
So Does Who Drew It.
Every breakdown on this site names the chain, the supply and the person who owns the artwork, because those are the three things that actually decide what a memecoin is.
Not financial advice.