PEPE Is Listed On KuCoin And Binance

The new sensation in the meme coin category, Pepe Coin, is on fire after landing back-to-back listings on the top crypto exchanges. With the crypto market on the upswing, memecoins are once again gaining attention. The controversial memecoin Pepe Coin has been listed on Binance and KuCoin.

Leading cryptocurrency exchange Binance has announced the listing of two major meme-inspired cryptocurrencies, Floki ($FLOKI) and the hot memecoin Pepe, which is inspired by the infamous meme and cartoon character Pepe the Frog and was introduced to the market on April 17, 2023.

What is Pepe (PEPE)?

PEPE is a deflationary memecoin that was introduced on Ethereum. PEPE is a one-of-a-kind offering in the meme coin market, building on the legacy of Pepe the Frog, a mascot with a long and contentious history. The burning process of PEPE emphasises its distinct identity, seeking to maintain scarcity in the market.

PEPE is an Ethereum blockchain ERC-20 token safeguarded by the Proof-of-Stake (PoS) consensus method. To process transactions and secure the network, decentralised validators stake 32 ETH. In terms of a roadmap, the Pepecoin website appears to present contradictory information.

While the website contains a roadmap section with aims such as “Pepe merch,” “Pepe Academy,” and “Pepe Tools,” a section at the bottom of the website states that Pepecoin has “no formal team or roadmap.” The supply of Pepecoin is comparable to that of other meme coins.

PEPE has a total supply of 420.69 trillion tokens; hence, the price of a single PEPE token is quite cheap in dollar terms. This is a typical strategy employed by meme coin initiatives, as a currency with a low price per unit appears inexpensive and accessible at first glance, even if it is actually overvalued in terms of market capitalization.

Following the debut, 93.1% of the PEPE token supply was transferred to a liquidity pool, with the remaining 6.9% retained in a wallet designed to support Pepecoin listings on centralized cryptocurrency exchanges.

Binance, KuCoin list Pepe

Binance stated on Friday, May 5, that it would include popular memecoins Pepe (PEPE) and Floki Inu (FLOKI). Binance has introduced PEPE to its Innovation Zone, which now includes the spot trading pairings PEPE/USDT and PEPE/TUSD. Shortly after Binance’s announcement, rival exchange KuCoin launched the Pepe cryptocurrency as well.

The PEPE/USDT trading pair was introduced by KuCoin. The postings sparked a market frenzy, with crypto traders scooping up tokens and fueling the excitement. Pepe holders, for example, celebrated by sending Pepe memes in response to Binance and KuCoin’s Twitter statements.

As a result of the listing, trading activity increased, with PEPE’s daily trading volume hitting 284.24%. This resulted in a 132% increase in the token’s price on the same day. As a result of the Binance listing, Pepe now has a market capitalization of $1 billion.

Joining the list amid the meme coin craze, Crypto.com also announced the listing for the PEPE. It mentioned that one can buy the trending meme coin at true cost with USD, EUR, GBP, and more. Binance and KuCoin arrived late to the Pepe party. On May 1, the cryptocurrency exchange OKX listed the Pepe coin. Bitget and Huobi had already listed the token.

?? $pepe to @cryptocom ?? https://t.co/vtCbP8HWef

— Pepe (@pepecoineth) May 5, 2023

Binance lends support to Pepecoin

According to the release, Binance will initially list two spot trading pairs: PEPE/USDT and PEPE/TUSD. The listing cost for the popular meme coin, on the other hand, has been set at 0 BNB. According to data, the price of Pepe has increased by 72% in the last 24 hours. At the time of writing, Pepe was trading at an average price of $0.000003.

$PEPE to @binance ??? https://t.co/rxw6S8grGN

— Pepe (@pepecoineth) May 5, 2023

Pepe price rises after KuCoin listing

KuCoin announced the PEPE listing on its platform shortly after Binance. The cryptocurrency exchange added that it is incredibly happy to feature yet another fantastic initiative. However, only one pair of PEPE/USDT will be available for trading.

$pepe to @kucoincom ? https://t.co/1Mjl8FBlAo

— Pepe (@pepecoineth) May 5, 2023

Can Pepecoin surpass Dogecoin and Shiba Inu?

In less than a month, Pepecoin went from being practically worthless to having a market capitalization of over $1 billion. Dogecoin and Shiba Inu are the most natural Pepecoin parallels. All three assets are known as meme coins, and all three projects place a premium on viral memes, branding, and community development over technological or economic advancements.

So far, Pepecoin’s rise has been even more rapid than that of Dogecoin and Shiba Inu. It took nearly four years for Dogecoin to reach a $1 billion market value for the first time. Shiba Inu was a little faster, reaching the $1 billion mark roughly 8 months after its introduction.

Visit and learn our guide to the best meme coin to buy here.

Meanwhile, PEPE has surpassed a $1 billion market value, barely three weeks after its initial public offering. Pepecoin is still far smaller than the two top meme coins. To match the market capitalization of SHIB, PEPE would require a 4.8x price rise. Meanwhile, a 9x price rise would be required for PEPE to equal DOGE’s market valuation.

Such multiples are not impossible, but we must remember that the larger an asset becomes, the more difficult it is for the asset to witness significant price gains. Another factor to consider is that PEPE price movements are virtually entirely driven by speculation and hype, so we can expect high volatility in the Pepecoin price in the future.

Conclusion

Pepecoin’s massive price increase has reignited interest in the crypto market, and it has already generated a slew of new meme tokens attempting to capitalize on its success. However, the cryptocurrency industry is a high-risk environment, and meme coins are no exception.

PEPE and other meme coins are now experiencing very significant price increases, but the trend might reverse at any time because there are virtually no fundamentals to support these coins’ prices.

Related

• Top Crypto Gainers Today, May 6 – PEPE, FLOKI, AiDoge, yPredict, DLANCE, BIT, ECOTERRA, SPONGE
• Pepe Coin Keeps on Giving, Despite Market Fears of ‘Killer Whales’
• Pepe Coin Price Explodes 1,000% – PEPE Price Prediction
• Pepe And Wojak Are Here, Meme Season Starts Now

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