Several major cryptocurrency trading platforms are listing the hot memecoin Pepe ($PEPE) in announcements that are coming shortly after leading trading platform Binance announced it was listing both PEPE and rival memecoin Floki Inu ($FLOKI).
It seems Binance’s decisions prompted several other major exchanges to swiftly follow suit. Justin Sun, an advisor at Huobi, confirmed the listing of PEPE on his platform with a celebratory tweet that showed a number of other digital assets that were recently listed had surged since they were added to the exchange.
Another popular cryptocurrency exchange, Crypto.com, also recently revealed it was listing the meme-inspired cryptocurrency on its platform, revealing users can buy it at “true cost” with over 20 fiat currencies including USD, EUR, and GBP.
Similarly, KuCoin introduced PEPE spot trading against USDT and launched isolated margin trading for PEPE pairs, further expanding the options for cryptocurrency enthusiasts.
The listings have led to a significant surge in PEPE prices, with the digital asset skyrocketing over 105% in just a few hours to a current trading price of $0.000003233.
PEPE, as CryptoGlobe reported, is a hot meme coin inspired by the infamous meme and cartoon character Pepe the Frog, and was introduced to the market on April 17, 2023. Despite warnings about the contract owner’s potential ability to modify transaction taxes and blacklist functions, PEPE’s market has seen a remarkable boom. It is now a top 100 digital asset after multiple centralized exchange listings.
Earlier, a fortunate cryptocurrency investor has seemingly managed to turn an investment of just 0.125 ETH in PEPE into a staggering $1.14 million in just a matter of days by buying into it at the right time.
The rise of meme-based cryptocurrencies has been a phenomenon in the world of digital finance. In recent years, established meme-inspired cryptocurrency Dogecoin ($DOGE) saw its popularity explode as rivals including Shiba Inu ($SHIB), Babydoge ($BABYDOGE) Wojak ($WOJAK), and ArbDoge, have been created and garnered significant attention.
Memecoins have become a sensation as these cryptocurrencies offer investors an opportunity for significant financial gains, as demonstrated by the recent PEPE success story.
However, the rapid rise and potential volatility of meme coins also pose significant risks to investors, especially those who may be new to the world of cryptocurrency, as many end up underwater after buying.
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