How did a frog that had been circulating online for years become a token?
First, what it is: PEPE’s official website says the token’s LP tokens have been burned and ownership of the contract has been renounced.
The logic behind it: PEPE has a total supply of about 420.69 trillion tokens, so its price per token is naturally very low. Whether it’s expensive depends on its total market cap, not its unit price.
The total supply of $PEPE is about 420.69 trillion tokens, fixed from launch.
Don’t rush into action just because everyone around you is doing it.

These are purely personal opinions; don’t treat them as a basis for trading.