PEPE coin, a leading meme-based digital currency, is back in the limelight as Binance.US has integrated it. The price of PEPE reportedly increased by 11% in a day proving that the token remains popular among crypto users. Currently, PEPE has risen to $8.8 billion market cap, making it among the most popular meme tokens there is currently in the market.
Binance.US Extends Meme Token Listings
It was on December 4th, 2024 that Binance.US, which is the America arm of the Binance exchange, announced that the company will be listing PEPE. Listing for the trading pair PEPE/USDT was opened right away, while actual trading was scheduled to start at 6 am EST, December 5.
It will operate as the fourth meme coin for business on the Binance.US platform besides Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk.Inc.(BONK). As stated by Binance.US, the inclusion of PEPE continues the trend of constantly increasing popularity of such tokens and the high trading activity of meme-based coins.
In a statement to Binance.US, on its official’s of PEPE coin rapid rise in the market a spokesperson said that ‘It has morphed into one of the most-discussed tokens in the market.’ ‘Our platform seeks to present diverse investment solutions, and this makes PEPE well suited for it.’
PEPE coin was launched in April 2023, and due to its high volatility, the character became very popular among the members of the crypto community. The creation of this coin is derived from the famous Pepe the Frog meme which saw a trend setting price for small investors, and now from small investors it has attracted large players in the crypto space.
Market Impact of the PEPE Coin Listing
That is why the launch of PEPE coin on Binance.US has only intensified its movement. The token surged 11% within hours of the announcement, reaching about $0.000022 from CoinGecko after the launch.
The move comes a week after a series of major reveal that has seen the PEPE coin surge. Interestingly, Robinhood and Coinbase have also declared earlier this year that they would be listing the token and their announcement caused the token to double its price in less than a week.
For the moment, with a $8.8 billion market cap, PEPE has climbed up to be the third biggest memecoins by market cap, ranking only below DOGE and SHIB. While its trading volume has also increased overall trading volume of the currency to $ 4.2 billion on daily basis showing high investors’ concern.
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Recently, PEPE coin was trading at $0.00002457 as reported by CoinGecko; this saw the chain achieve a market capitalization of $10 billion for a brief period in the last month. This put a new spin into the token’s run, having gained over 1,500 percent YTD.
For example, crypto analyst Sarah Mitchell said that PEPE’s success has been due to its popularity among its community, as well as the timely listing on the exchanges. Such factors foster a cycle of demand augmentation and publicity.”
The Rise of Meme Coins: A Cultural Phenomenon
Meme coins have become so prominent in the crypto sphere that tokens such as PEPE coin have captured the most attention. What started as a marginal phenomenon because of various tokens like Dogecoin or Shiba Inu has become a distinct branch of the market and a priority for certain investors.
The general adoption of meme coins, especially by a particular class of investors, commonly known as retail investors, can also be accredited to its growing popularity. Since most meme stocks are cheap to start with yet possess internet share-posting features, they are ideal for extreme-risk chasers.
This is evident through Binance.US acquisition of PEPE coin revealing that exchanges-have started to realize the importance of targeting fans of meme-coins. Moreover, listing enhances PEPE’s position in the market and makes it easier to get started and fluid in the market for investors.
Even so, the experts still point out that they are highly risky to invest in, primarily because most meme coins are often deemed as mere speculative bubbles. ‘While staking PEPE tokens, investors should bear in mind that all meme tokens reflect that same level of volatility,’ said crypto strategist James Lopez. “Although they can experience stunning gains, they can also come with stunning losses.”
Conclusion
The increase of PEPE coin by 11% after the announcement of its listing in Binance.US is proof of its dominance in the market. Even while having a market capitalization of $8,8 billion, PEPE is not only one of the most popular meme tokens but also a true example of the importance of community-based investing.
As trading commenced at Binance.US, more growth is expected for the PEPE coin, given its simplicity and demand. Nonetheless, prospective investors are advised to have their copy of ‘copycat coins’ with caution owing to the fact that these stop-over coins are rather volatile.
Raging from being a mere laughable image that captivated the internet to becoming a billion-dollar venture of tokenized stardom, PEPE is a perfect embodiment of cryptocurrency randomness and evolution. As to whether this will continue in the long term remains to be seen, but as of now PEPE is enjoying its success. Keep following The Bit Journal to keep an eye on PEPE coin price.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
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