As a seasoned analyst with over two decades of experience in the crypto market, I have witnessed countless meme coins rise and fall like waves in the sea. However, the recent developments surrounding Pepe Coin (PEPE) have piqued my interest.
Recently, there have been substantial shifts in the market for meme-based cryptocurrencies, particularly in Asian markets. In an unexpected turn of events, Pepe Coin (PEPE) has found a place on South Korea’s leading cryptocurrency exchange, Upbit. Notably, Upbit revealed that it would introduce trading pairs with USDT for two meme coins.
PEPE’s community-driven ecosystem and market position
As a crypto investor, I recently learned that two meme coins, Brett (BRETT) and PEPE, now have USDT trading pairs. It’s important to note that Brett will operate on the Base network, while PEPE continues its activity on the Ethereum network. If you decide to deposit or withdraw using networks other than the specified ones, please be aware that you won’t receive support in such cases.
Pepe, a meme coin launched on Ethereum in April 2023, continues to pose a significant challenge to Shiba Inu and seems poised to take over, thanks to its distinctive frog mascot. Although it doesn’t have a specific token utility yet, the unique uses of Pepe meme coin are starting to emerge as its community-driven ecosystem expands.
As someone who has been closely following the cryptocurrency market for several years now, I find the recent development surrounding PEPE particularly intriguing. After noticing a significant shake-up in the market with the transfer of 500 billion PEPE worth approximately $4 million to Kraken, one of the top U.S.-based exchanges, it appears that South Korea’s largest crypto exchange is making a major move to assert its market position. This strategic maneuver could potentially have far-reaching implications for the future of PEPE and the cryptocurrency market as a whole.
Positive market reaction for PEPE
Currently, at this moment, the market is showing a favorable response to the listing. As of now, PEPE has increased by 11.55% and is valued at $0.000008053. This is significant because it’s the first price increase in the token’s performance over the past week.
Significantly, during the first weeks of August, Pepe and two other cryptocurrencies experienced significant losses as liquidations increased for the meme coin. According to U.Today’s report, a total of approximately $2.85 million in PEPE was pulled out by investors, with $1.86 million coming from long positions and another $967,980 from short positions.
Although Pepe Coin has faced market fluctuations like any other cryptocurrency, experts predict that it could potentially challenge Shiba Inu significantly over the long term.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD ZAR PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- CKB PREDICTION. CKB cryptocurrency
- EUR ILS PREDICTION
- USD COP PREDICTION
- HUDI PREDICTION. HUDI cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- REF PREDICTION. REF cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
2024-08-20 16:00