Altcoin investors are looking to Pepe Coin (PEPE), which has been taking a leap in daily trading volume lately. The latest news is that crypto exchange OKX will list PEPE. Here are the details…
Bitcoin and altcoin exchange lists PEPE
Good news for the popular meme coin of recent times. OKX announced that it has listed the coin inspired by “Pepe the Frog”. cryptocoin.com As we have also reported, the PEPE meme coin is deflationary according to its own statements. It was released on Ethereum. OKX stated that “Pepe the Frog” is a popular cartoon character and internet meme created by cartoonist Matt Furie. It was designed as a green anthropomorphic frog with a humanoid body.
The crypto exchange announced the new listing of PEPE via an official tweet. OKX CEO “Star” Xu also tweeted about the listing. Meme coin will now enter OKX spot trading markets and trading starts on May 1 at 12:00 CEST. Withdrawals are opened after one day. The exchange lists the altcoin project with the pair PEPE/USDT. Some believe that the meme coin will surpass Shiba Inu and Dogecoin.
PEPE is coming soon🤔 https://t.co/blF5my6YR0
— Star (@star_okx) May 1, 2023
The price of PEPE has risen over 60 percent in the past 24 hours and is currently trading at $0.00000102. Transaction volume has increased by more than 200 percent in the last 24 hours. The increase in price means an increase of about 38,900 percent since its launch on April 14. According to data from CoinGecko, PEPE was the 17th most traded cryptocurrency yesterday, the ERC-20 token, by 24-hour trading volume. Thanks to its rapid rise, PEPE is among the top 125 coins by market cap.
OKX listing matters to PEPE
Despite its trend and jump in trading volume over the past few days, investors should be cautious when trading with such new cryptocurrencies. The price of PEPE could drop drastically if the biggest investors i.e. whales start selling meme coin. PEPE tokens follow an established pattern characterized by social media-driven hype. Other big meme coins like Dogecoin and Shiba Inu also rose with this “hype” throughout 2021. Right now, however, DOGE and SHIB are more following Bitcoin’s lead. At this point, PEPE emerged in mid-April. It then amassed a market cap of over $326 million in less than two weeks.
One factor that could influence the development of PEPE is its listing on a major cryptocurrency exchange. That’s why OKX listing is a big deal. Such an event could further prolong the impressive rise of the meme coin. For example, when Floki Inu was listed on Binance last year, it caused its price to jump as much as 50 percent. Investing in meme coins carries a high risk. Because their price mainly depends on how much people talk about them on the internet. They are also extremely vulnerable to price manipulation. Even PEPE investors at the peak of their value find it difficult to cash out these tokens without sufficient liquidity.
