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Is Pepe (PEPE) halal?

Prohibited

3 conditions out of six fail.

Verdict calculated by Halal Bourse's published rules from an investigation of primary sources (project documentation, registers, decisions), conducted on 10/07/2026 and not reviewed by a human.

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The asset

ERC-20 token on Ethereum (memecoin) launched on April 14, 2023, inspired by the “Pepe the Frog” meme Issuer: No issuing entity: the project's website states “no formal team”; a project multisig (Safe, 3 signatures out of 4) holds about 0.5% of the supply.

Supply fixed at 420,690,000,000,000 PEPE, with no further creation possible; 6.9 trillion were burned on October 23, 2023 (the contract still shows the initial supply). As of October 6, 2026 (23:49 UTC), CoinGecko shows a price of €0.0000038 and a market capitalization of €1.60 billion (rank 60).

Why this verdict

  1. Permissible purpose : not met. The project's website calls the token “completely useless”, with no formal team or roadmap, and the MiCA white paper filed by a third party (Crypto Risk Metrics, July 2, 2026) concludes that PEPE has no function of its own beyond transfer and confers no rights. No permissible use is documented: the only payment acceptance found is that of a sweepstakes social casino (June 2025); payment providers list the token with no identified merchant (autres_constats). Halal Bourse rule A.8 (October 6, 2026): token with no function, c1 and c3 not met.
  2. No riba : met. Holding PEPE pays no return: the token confers no profit share or right, and the project presents itself with no “expectation of financial return”.
  3. No gambling : not met. A token with no function: its value depends only on supply and demand on secondary markets, so the gain can come only from resale to another buyer (Halal Bourse rule A.8 of October 6, 2026: c1 and c3 not met).
  4. No excessive gharar : not met. Issuance is frozen: no minting, contract ownership renounced (owner() = null address), supply published. But the project has no identified entity and a multisig (Safe, 3 signatures out of 4) holds 2,124,739,408,495 PEPE, about 0.5% of the supply (on-chain read of October 7, 2026, identical to the white paper of June 30). In August 2023, 16 trillion PEPE were sold from the “CEX” multisig, by three former members according to the last founder, described as anonymous, who took control of it back. Rule A.8: an anonymous party controls a treasury. Borderline case: the current signers are not named, and the white paper cites people “linked” to the project without attributing this control to them.
  5. Real ownership : met. PEPE is an ERC-20 token held in a personal Ethereum wallet (MetaMask). The withdrawal conditions of purchase platforms were not studied.
  6. No fraud or manipulation : to be verified or tolerated case. No sanction or regulator action found; AMF blacklist: no result. One risk signal is established: unidentified team (“no formal team”). Other facts: sale of 16 trillion PEPE (about $15 million) in August 2023 from the project's multisig, according to the project itself, with no court ruling found; official website compromised by Inferno Drainer code on December 4, 2025. The contract's blacklist and pause functions are reserved to the owner, which is the null address: they can no longer be exercised (scan_securite). Liquidity burned; top ten wallets excluding exchanges 37.3% (upper bound), under 50%; an audit is neither found nor ruled out. A single established signal: to be verified.

Contract security scan

GoPlus security scan of the PEPE contract on Ethereum: 596,996 holders; top ten wallets excluding exchanges and contracts 37.3%; code published. Signals found: Transfers can be suspended by the contract (transfer_pausable). The contract can freeze addresses (blacklist, is_blacklisted). Reading under rule A.8: both signals come from a single function of the code: the blacklist and the transfer rule apply only through the contract owner (onlyOwner). The owner is the null address (GoPlus and an owner() call on a public node): no one can use them anymore. They do not constitute an insider power to freeze. Liquidity burned (“LP tokens are burnt”), no minting, no tax. The 37.3% figure is an upper bound (not all exchanges are labeled).

Opinions found during the research

Opinions reported as read, named for what they are; they do not enter into the calculation of the verdict.

What could not be verified

Sources read

Other cryptos analyzed

General information: neither investment advice nor a fatwa. Verdict calculated by published rules, from financial statements read automatically and not reviewed by a human. Read the methodology