The meme coins have enjoyed much popularity and fame in the crypto space in the past couple of years or so. The latest entry into this list is PEPE, as the new token has apparently won the meme coin battle this season. The coin has been on the rise in the past two weeks. In the latest move, the OKX Exchange announced the listing of PEPE on its spot trading markets. The PEPE/USDT pair would be available from May 1, whereas withdrawals would initiate from May 2.
🚨 #Memecoin New Listing Update 🚨 $PEPE @pepecoineth gets listed on #OKX!
📈 PEPE/USDT Spot Trading: 9:00 am May 1 (UTC)
Details: https://t.co/jzMvhs0QaH pic.twitter.com/VRnX3glD5Q
— OKX (@okx) May 1, 2023
The Pepe community welcomed the OKX listing with a lot of enthusiasm, considering it a major positive development for the emerging token. Soon after the disclosure, the price of the meme coin surged by a whopping 110%. The token managed to achieve a market cap of approximately $450 million, landing itself a spot between the top 100 cryptocurrencies.
Despite the current week being uncertain and unfavorable for several cryptocurrencies, Pepe has been posting long green candles. At the time of writing, Pepe (PEPE) is trading for approximately $0.00000137 and has surged by over 110% in the previous 24 hours. A staggering increase of almost 234% in the last 7 days is surely bound to blow analysts away.
Pepe Seeks to Dethrone Popular Players
The Pepe token has been inspired by Pepe, the frog, which is a classic social media meme. It is classified as a deflationary meme coin launched on the Ethereum chain. At the launch time, the masses were unsure about what the future would hold for the token. However, with its recent surge, many believe that PEPE would dethrone other meme coins like SHIB and DOGE.
The token started gaining momentum shortly after its launch in mid-April, with a number of investors flocking to purchase the token. The token currently has a higher trading volume than other meme coins. Many analysts believe that the token does not serve any particular purpose, but is mainly fuelled by hype. At the same time, many allege that the meme coin is a scam, merely a pump-and-dump or a Ponzi scheme.
The token is eyeing to establish itself as the leading player in the world of meme coins. Keeping in mind how the token has been launched without any presale or taxes, PEPE features a burned liquidity pool and a renounced contract. Its three-phase road map emphasizes growth, community engagement, and expansion of its overall reach. Its goals include achieving initial listings, community partnerships, gaining a meme takeover, and much more.
It is still too early to assume whether or not the project would fall sideways just like the countless ones before it. However, it is true that PEPE has managed to catch everyone’s attention. If the token manages to hold this attention for much longer, it might just end up joining the ranks of other meme coins that remain embedded in the mind of the crypto community.
