Is PepeCoin dead? A deep dive into its 2025 performance

1. What Is PepeCoin?

PepeCoin is a cryptocurrency inspired by Pepe the Frog, a character created by artist Matt Furie in his Boy’s Club comic series. Pepe became a viral meme on the internet in the mid-2000s, symbolizing humor and subcultural movements. PepeCoin blends blockchain technology with meme culture to create a speculative digital asset.

There are currently two versions of PepeCoin:

PepeCoin (PEPECOIN) – Launched in 2016: This original version was built on its own blockchain and aimed to transcend typical meme coins. According to its official website, it integrates decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming into its ecosystem, branding itself as a pioneer in "memetics on the blockchain."
Pepe (PEPE) – Launched in 2023: This version is an ERC-20 token built on the Ethereum network, launched on April 14, 2023. With a total supply of 420.69 trillion coins, it follows a no-tax, no-utility model and is driven by community enthusiasm, positioning itself purely as a meme coin.

Though both versions share the same mascot, they differ greatly in purpose, scale, and community focus.

2. The History of PepeCoin

The 2016 PepeCoin emerged during the early days of meme coins, preceding the rise of popular coins like Dogecoin. Its creators envisioned a robust ecosystem and launched the coin with a total supply of 133,769,420 coins—a number that has since been reduced through burning mechanisms, as detailed on CoinGecko. In 2021, it reached a market cap of over $1 billion, marking its peak.

The 2023 Pepe entered the market amid the revival of meme coins, leveraging the Ethereum network for accessibility. Its website humorously presents a three-phase roadmap—launch, hype, and profit—with no pretense of offering utility. By early 2025, it had eclipsed its predecessor in market dominance, raising questions about the original coin’s relevance.

3. Key Information about PepeCoin

Tokenomics:

2016 PepeCoin: The circulating supply is approximately 133 million coins, with burning reducing its total over time (CoinGecko).
2023 Pepe: A fixed total supply of 420.69 trillion coins that are fully circulating with no transaction fees.

Market Rankings (as of March 14, 2025):

2016 PepeCoin: Ranked #610 on CoinGecko.
2023 Pepe: Ranked #30 on CoinMarketCap.

Technology:

2016 PepeCoin: Operates on its own custom blockchain.
2023 Pepe: Built on the Ethereum network.

Purpose:

2016 PepeCoin: Aims to blend utility with meme culture, introducing DeFi and NFTs into the space.
2023 Pepe: Primarily a meme coin that thrives on community-driven hype.

4. PepeCoin Market Performance in 2025

2016 PepeCoin:

As of March 14, 2025, the 2016 PepeCoin holds a market cap of $41.5 million (BTC 680.4081) according to CoinGecko. Its price has decreased by 4.3% in the last 24 hours and 6.4% over the past week, with a daily trading volume of $1.04 million. Though still far below its all-time high of BTC 0.0001059, it has experienced a 4,871.30% increase from its lowest point, indicating that there is still interest from traders.

2023 Pepe:

On the other hand, the 2023 Pepe boasts a market cap of $2.9 billion, with a price of $0.00000692 and a 24-hour trading volume of $892.41 million as per CoinMarketCap. Despite a 2.4% weekly decline, the 2023 version’s scale and liquidity vastly outperform the original. It is clear that the 2023 Pepe is more established and widely adopted, overshadowing its 2016 counterpart.

5. Development Activity

Development is a crucial indicator of a project’s vitality. The 2016 PepeCoin official site still features ambitious projects like DeFi integrations, an NFT marketplace, and a mysterious “Kekspace” initiative. However, there has been little to no new development or updates in recent years, suggesting that the project may be stagnating. Without a development push, it risks fading into obscurity.

Conversely, the 2023 Pepe has no pretensions of offering utility, as it emphasizes community engagement over technical innovation. Its “no intrinsic value or expectation of financial return” model has worked for its meme-driven audience, fueling its success based on cultural relevance rather than technological advancements.

6. Is PepeCoin dead?

The future of the 2016 PepeCoin depends on whether its development team can reinvigorate the project. The deflationary model—burning coins to reduce supply—could potentially drive value if paired with a renewed focus on the community or new use cases. However, it faces stiff competition from newer, more popular meme coins, including the 2023 Pepe, and may struggle to regain relevance without a clear catalyst.

In contrast, the 2023 Pepe appears to have strong momentum, with a $2.9 billion market cap and a vibrant community. Its future relies on maintaining cultural hype, but it is well-positioned to continue thriving, at least for the time being. Meme coins, however, are known for their volatility, and sustaining the hype is always a challenge.

7. Conclusion

As of March 14, 2025, the answer depends on which version of PepeCoin you are referring to. The 2023 Pepe (PEPE) is far from dead, with a robust market presence and strong trading volume. In contrast, the 2016 PepeCoin (PEPECOIN) remains alive but dormant. Its market presence lingers, but without substantial development or a shift in strategy, it risks fading into irrelevance. Its legacy endures, but its survival depends on whether the team can reignite interest.

Both versions of PepeCoin face challenges, but the 2023 Pepe stands strong in the meme coin race. Whether the 2016 PepeCoin can revive itself is uncertain, but the project’s history shows it’s not out of the game yet.

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