How To Buy PEPE Coin In India – Forbes Advisor INDIA

Meme coins are special kinds of crypto coins that are highly inspired by memes with a social media fan base. Meme coins are famously known in the world of cryptocurrency to lift investors’ mood and emotions especially when the overall market is volatile. A classic example of meme coins is Dogecoin that had caught crypto enthusiast and billionaire Elon Musk’s interest, which led to its volcanic rise.  

Meme coins frequently experience wild price swings and are mostly volatile. As a result of their relation to internet cultures and social media, they have become extremely popular. One such coin is PEPE coin, which was launched in April 2023. 

Here’s a detailed explainer on how you can buy “PEPE” coin, also popular as the frog-faced meme coin, that has its position in the market’s top 100 cryptocurrencies.

PEPE Coin: Overview 

PEPE coin has gathered support from its meme fans who view it as a comical addition to the crypto world as a meme coin. It is considered as the most “memeable” coin built on the blockchain of Ethereum and functions as an ERC token.

Just like any other meme coin, PEPE coin does not hold any basic and built-in value and doesn’t have any specific use currently. Does it have the potential for practical usage? The answer could be a yes as it can be used as a potential medium of exchange for services and products within the decentralized ecosystem. 

PEPE coin leverages smart contracts to ease transparent and safe transactions on the blockchain, with 420 trillion of a total supply. It does not have any future roadmap or a formal team yet, rather has been created as a tribute to a famous internet meme character known as “PEPE the Frog”, which was a hit in the early 2000s. 

Even with no basic principles in place, right after the launch in 2023, PEPE coin has been able to enter the top 100 cryptocurrencies by market capitalization in a span of two weeks. At present the coin ranks at #43 by market capitalization, according to CoinMarketCap.

As of March 6, 2024, PEPE coin is valued at $0.000007851 with a market capitalization of $3.32 billion. It has increased by 1.80% in the last 24 hours but is still 7.4% lower than its all-time high. 

How to Buy PEPE in India?

Let us see some of the basic steps you can follow to buy PEPE coins in India:

Step 1: Sign up on your choice of crypto exchange platform. (Choose a crypto exchange that is registered with the Financial Intelligence Unit).

Step 2: Create your account security by validating your email address.

Step 3: Complete your know your customer (KYC) process. 

Step 4: Add funds you want to invest in your crypto exchange wallet.

Step 5: Lastly, buy a PEPE coin. 

Benefits of PEPE coin

• The PEPE coin is considered to be trustworthy as it is an ERC-20 token created on the ETH network, which makes it a secure meme coin. 
• It makes several dApps and wallets compatible.
• The PEPE token’s deflationary mechanism is an added advantage. This suggests that a small section of the tokens is burned with every single transaction, slowly reducing the quantity. 
• The coin scarcity can result in making it more desirable among investors.
• It uses a redistribution system. It implies that existing holders of the token receive a part of every transaction. 
• Long-term investment plans and holding are incentivized.
• The coin emphasizes community development and engagement. As they are interactive via social media channels.
• Lastly, PEPE coin stands out because of its dedication to its users and active community development.

Factors That May Risk the Growth of PEPE Coin

Easy Accessibility: Due to its widespread availability, with a vast supply and low demand, as it is easy for anyone to use or purchase, the price of cryptocurrency is still significantly influenced by demand. However, this can result in limited growth as demand is easily met, and prices do not rise substantially.

Shifting Trends: Meme coins in India are highly regarded, and new coins consistently emerge, leading to changing trends. With the introduction of other cryptocurrencies, there is a possibility that people may eventually shift their attention away from PEPE. While this frog-faced meme coin may not suddenly disappear, its prices could experience a temporary decline.

Volatility: PEPE gained sudden popularity overnight, witnessing a surge of over 1982% in just a few months. While this may be typical for meme coins, it does raise concerns about volatility. It is advisable to conduct thorough research before investing in any digital asset.