PEPE’s Market Cap Soars Above $1 Billion Following Binance Listing

Pepe Coin (PEPE) has been one of the best performers in the cryptocurrency sector lately, with its price up more than 900% over the past seven days. It witnessed another 60% increase in the past 24 hours, while its market capitalization rose to more than $1 billion.

The hype around the coin seems to be an isolated case because other memecoin coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) haven’t posted any significant gains recently.

• PEPE’s impressive performance continues at full steam after the token’s valuation surged 60% on a daily basis again.

• The asset, which had a market value of less than $1 million at the time of its launch in mid-April, was ripped off last month. As a result, the scale has crossed the $1 trillion mark required by both CoinGecko and CoinMarketCap today.
• According to CoinGecko, PEPE is currently the 45th largest digital asset, overtaking well-known cryptocurrencies, including EOS, Stacks (STX), and others.
• The rapid increase in prices negatively affected traders who bet on the decline of PEPE. Coinglass open That the number of leverages of PEPE traders has skyrocketed, and the total amount lost is over $10 million on a daily scale.
• On-chain data indicates that over 5,300 ETH (value over $10 million) has been burned in the past 3 weeks from PEPE traders on Uniswap alone.

I downloaded 413,283 PEPE Uniswap transactions from @tweet

PEPE traders have burned nearly 5,300 ETH ($10 million) of gas over the past 3 weeks 🤯

1 / 🧵 pic.twitter.com/9lZxGGjtT5

– Alex (@thiccythot_) May 5, 2023

• Another major news came from the world’s largest cryptocurrency exchange – Binance. CZ-led company He said It will include PEPE in addition to Floki Inu in its innovation area, which could have been the main reason behind the recent increase.
• The widespread craze generated around PEPE should not be associated with the growing interest in the memecoin field. DOGE, SHIB, FLOKI, and many others have either been flat in the past few days or even experienced a slight price drop.