PEPE hits $1 billion market cap after Binance listing

The biggest exchange in the world has chosen to acknowledge the latest hot meme currency, Pepe Coin since the enthusiasm around it has gone through the roof. In a recent article, Binance disclosed that it will feature Pepe (PEPE) in the Innovation Zone.

The statement states that Binance would first feature 2 spot trading pairs: PEPE/USDT and PEPE/TUSD. Although it has been said that the listing cost for the popular meme coin is 0 BNB.

While Pepe has no utility or value support mechanism, Binance advised its consumers that trading in meme-coins is exceedingly dangerous.

Ironically, PEPE’s primary value claim is that it doesn’t have one. Investing in the token is described in the following way in a disclaimer on the cryptocurrency’s official website: “$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. “The coin is completely useless and for entertainment purposes only.”

PepeUSD CoinGecko Graph

In the past week, Pepe Coin’s (PEPE) price has increased by almost 900%, making it one of the greatest performers in the cryptocurrency market. During the previous day, it had a further 60% growth, and its market value soared to more than $1 billion.

The excitement around the coin appears to be an unusual event given that other meme-coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) have not recently experienced any significant increase.

In just 30 days, the trending Pepe coin has easily increased by 4000%, displacing other popular meme currencies from the rankings. Nearly catching up to Shiba Inu (SHIB) and Dogecoin (DOGE), PEPE is now the third most popular meme token.

The meme currency’s ‘SmartMoney’ produced substantial gains, underscoring the speculative nature of this digital commodity. 

Pepe’s rising market capitalization and trading activity point to the prospect of enormous returns but also raise concerns about potential market manipulation. Investors must exercise caution and conduct enough research before investing in these very volatile, meme-inspired coins.

The Innovation Zone will also feature another meme coin, FLOKI (FLOKI), along with Pepe, according to a separate announcement made by Binance. Two new spot trading pairs, FLOKI/USDT and FLOKI/TUSD will be added by the exchange.

FLOKI and PEPE are relatively new tokens that provide a larger-than-usual risk, and as a result, will probably be exposed to considerable price fluctuation, according to Binance.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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