Pepe (PEPE) is a meme-category token on Ethereum (ERC-20, mainnet), deployed 2023-04-14 at contract address 0x6982508145454ce325ddbe47a25d4ec3d2311933.
It carries no attached protocol, application, or revenue mechanism and is categorized simply as "Meme." The project presents itself as a fan-driven tribute to the "Pepe the Frog" internet meme, while its own site states it has no affiliation with Matt Furie, the character's original creator. As of 2026-08-31, its market capitalization is approximately $1.49 billion.
Pepe's differentiation rests on market capitalization and liquidity, not on any product or technical feature; it is a large-cap meme token with a market capitalization above $1 billion.
As of 2026-08-31, it recorded approximately $2.2 million in 24-hour trading volume, $14.4 million in on-chain liquidity, and 579,512 holders. Its value proposition is therefore cultural and speculative: established name recognition and market liquidity rather than utility, revenue, or governance rights.
Pepe (PEPE) functions as neither a governance token nor a utility token; it carries no staking, fee-payment, collateral, or voting mechanism.
Holders interact with the token solely by holding or trading it on decentralized and centralized exchanges. Contract ownership has been renounced, so no address retains privileged control over the token contract. No mechanism grants holders decision-making rights or protocol access, consistent with its classification as a plain meme token.
Pepe launched on Ethereum on 2023-04-14 as a self-described "fair launch," with no presale, ICO, or venture funding round.
This fair-launch narrative is contested: a U.S. SEC Wells Notice alleges that approximately 4% of total supply was transferred to "Pepe Development Team" members in August 2023, a disputed allocation the named recipient denies constitutes wrongdoing.
Pepe (PEPE) is deployed as an ERC-20 token on Ethereum mainnet and does not operate its own blockchain or validator set.
It relies entirely on Ethereum's proof-of-stake consensus mechanism for transaction validation and security; the token contract itself performs no consensus role. Bridged or duplicate deployments carrying the same name exist on other chains such as BNB Smart Chain, Arbitrum, and Avalanche, but the canonical asset described here is the Ethereum mainnet contract at address 0x6982508145454ce325ddbe47a25d4ec3d2311933.
Pepe's core team is anonymous and pseudonymous; CertiK's audit records "Team Verification: Not verified" and no third-party KYC was completed.
Eric Wallace, publicly identified online under pseudonyms including "Abundantpeaks," has been reported as a co-founder/developer involved in creating and developing PEPE. On 2024-10-22, the U.S. SEC's Division of Enforcement issued Wallace a Wells Notice alleging securities-law violations tied to an August 2023 token transfer; Wallace, represented by Latham & Watkins LLP, denies wrongdoing.
No registered company, foundation, or legal entity issues or operates Pepe (PEPE); it exists as a permissionless, community-run meme project.
The project maintains a website (pepe.vip) and social channels on X and Telegram under the handle "pepecoineth." It is categorized simply as "Meme" rather than as a product of any corporate or foundation structure. Beyond the anonymous and pseudonymous individuals named in connection with its founding, Pepe has no other issuing organization or headquarters.
Pepe (PEPE) has no formal on-chain governance, DAO, or voting mechanism; token holders have no structured role in project decisions.
Contract ownership has been renounced to the null address, confirmed by CertiK, removing any single wallet's privileged control over the contract. Third-party commentary nonetheless flags an unspecified multisig reserve still controlled by anonymous individuals as a source of governance opacity. No published roadmap, team-disclosed decision-making process, or treasury structure exists.
No development roadmap or technical upgrades have been announced by the Pepe project itself.
The most concrete recent development is external: Canary Capital Group LLC filed a Form S-1 with the U.S. SEC on 2026-04-08 for a proposed spot "Canary PEPE ETF" that would hold PEPE in custody and track its price, following registration of an associated Delaware trust on 2026-01-23. If approved, it would be the first US-listed spot PEPE ETF; the SEC has up to 240 days from filing to decide, with no outcome yet as of 2026-08-31.
CertiK completed the only known audit of Pepe (PEPE) on 2023-12-22, finding one major-severity centralization issue and two informational-severity findings, all resolved, with zero critical or medium-severity issues.