Soon after its official listing, the price of meme coin has increased by nearly 2,000%. After its inception as a trending crypto project, PEPE swiftly earned popularity and value in the cryptocurrency market. The popular depressed frog meme inspired this meme coin. Soon after its launch, the wallet with the most PEPE coin now has approximately $1.1 million in tokens purchased for a few hundred dollars in Ether.
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Many meme coins, if not all, are a risky investment option for many. Since these meme coins’ value rise with the trend and drops as the trend disappears, many meme coins fail to perform in the competitive market.
But among the few that have brought a solid return on investment (ROI) for their investors, PEPE is one of the high-potential meme coins that has hit the market by storm. Since its value surge, the PEPE token is now listed on different crypto exchanges, adding more to its market value and recognition.
OKX stated on May 1 that it would list memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and start Pepe withdrawals on May 2 at 17:00 HKT.
Before OKX, several cryptocurrency exchanges, including MEXC Global, Bitget, Gate.io, and Huobi, listed Pepe trading pairs, causing a trading frenzy. Since April 17, the token has returned 2,340% and is currently trading at $0.000001593 per token at publication.
More About PEPE Token and Its Success:
PEPE is an ERC-20 token with a 420.69 trillion token supply, entering the ranks of meme coins or tokens based on internet memes and popular culture allusions.
While several Pepe the Frog NFTs and tokens have been released over the years, the most recent PEPE token has been especially successful in capturing market attention.
The coin first went on sale on April 15th, with a price of around $0.000000001. According to CoinGecko, the token was last trading at $0.00000137.
Reason Behind the Success of Its Trending Meme Coin:
PEPE’s spectacular rise has coincided with a corresponding spike in Google searches.
From the week of April 9 to the week of April 16, the Google Trend score for “pepecoin” increased from 3 to 100.
The score indicates a keyword’s popularity in Google Search over a specific period. The statistic ranges from 0 to 100, with 100 being the peak popularity of a certain keyword search.
Another element that could influence the price of PEPE coin is its availability on numerous cryptocurrency exchanges, including OKX, Huobi, Gate.io, and MEXC.
DeFi volumes for PEPE have also increased significantly. Volumes increased from $2.99 million in a Uniswap PEPE/WETH pool on April 15 to over $240 million with several liquidity pools and centralized exchange listings.
Amidst this market surge, experts suggest investors bag PEPE for high-profit returns in 2023, making it a popular meme coin to leave its competitors behind.
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