a Pepecoin (PEPE)meme cryptocurrency promising to end Dogecoin’s reign saw its price double after being listed on the exchange OKX. The coin was inspired by the popular internet meme, Pepe the Frog.
The token rose by more than 125% in just a few hours after the OKX news broke. The increase was so significant that PEPE’s market cap exceeded $500 million.
OKX, a renowned cryptocurrency broker in the market, announced this Monday the listing of PEPE on its spot trading markets with PEPE/USDT trading pairs (1). The coin is for sale via this link.
Pepecoin joins the list of top 100 cryptocurrencies in the market
Pepecoin continues to grow in popularity in the cryptocurrency market, with surpassed the Shiba Inu as the most traded meme coin. With a record trading volume of $457 million in the last 24 hours alone, the memecoin saw its price double and entered the list of top 100 cryptocurrencies by market capitalization.
While many have accused Pepecoin of being a scam, its total market cap has already surpassed $539 million. The coin is mainly driven by hype and follows the trend of other popular meme coins such as Dogecoin and Shiba Inu.
In addition to promising to end the reign of dog cryptocurrencies, the coin aims to be more than just a meme coin. The three-stage roadmap emphasizes growth, community engagement, and expanding your reach.
Meanwhile, Shiba Inu, which had already experienced significant trading volume during its popularity peak in October 2021, is now reporting a trading volume of just $69 million.
While both coins are driven by hype and community, Pepecoin seems to be gaining ground as more investors are attracted to its high price and popularity.
As the competition between meme coins continues, it is hard to predict which one will become the king of the meme coins, but Pepecoin is certainly proving to be a strong contender.
pepecoin
PEPE has gained traction since its mid-April launch, when its market value was less than a million dollars. At the time, there were several stories of cryptocurrency investors pocketing mind-boggling profits in a matter of days.
The hype, fueled by social media and mention on other platforms, increased PEPE’s popularity.
While the past week has been quite unfavorable for most of the cryptocurrency market, it has been positive for the memecoin, which is up 250% in that period. PEPE has also appreciated over 20,000% since its launch and is considered one of the most popular coins on the market.
controversies
The sudden rise of Pepecoin has caught the attention of many investors looking for quick profits. Since the memecoin started gaining popularity, many investors have rushed to acquire the cryptocurrency, hoping to capitalize on its upside potential.
Among these investors is one who reportedly exchanged 0.125 ETH, worth approximately $250, for 5.9 trillion PEPE tokens. With the rise of the cryptocurrency, the initial investment turned into approximately $1.8 million on April 19, 2023.
However, Pepecoin’s low liquidity on decentralized exchanges cast doubts on the investor’s ability to realize these gains.
While PepeCoin has attracted many investors looking for quick profits, it has also attracted criticism from community members. They claim that memecoins like PepeCoin have little intrinsic value and are mainly driven by hype and speculation.
In addition, the lack of transparency and accountability in the memecoin market has led some to question the legitimacy of the entire ecosystem.
Despite these concerns, Pepecoin’s popularity shows no signs of abating, and many investors continue to purchase memecoin as a potential source of significant profits.
However, it is important for investors to exercise caution and weigh the risks carefully before investing in memecoins. The volatile and unpredictable nature of the cryptocurrency market can lead to significant investment losses if caution is not exercised.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
