On Might 1, cryptocurrency trade OKX announced that it could be itemizing memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on Might 2 at 17:00 HKT. In supporting the itemizing choice, OKX workers wrote:
“Pepe the Frog is a cartoon character and web meme created by cartoonist Matt Furie. Pepe was designed to be a inexperienced frog with a human-like physique; this is among the hottest memes on this planet.”
A number of cryptocurrency exchanges, together with MEXC International, Bitget, Gate.io and Huobi, listed Pepe buying and selling pairs two weeks prior, stirring what seems to be a buying and selling frenzy. The token has returned 2,340% since April 17 and is now buying and selling at $0.000001223 apiece at publication. Following information of the OKX itemizing, Pepe’s worth has surged over 50% previously 24 hours.
Created on the Ethereum blockchain by nameless builders, the Pepe token was created, in response to CoinMarketCap, “as a tribute to the Pepe the Frog web meme,” with the intention of capitalizing on the recognition of memecoins resembling Shiba Inu (SHIB) and Dogecoin (DOGE).
In 2021, DOGE surged by over 23,000%, partly as a result of American enterprise magnate Elon Musk’s vocal assist for the coin on social media. Equally, SHIB surged by over 1,250% through the 2021 cryptocurrency bull market after gaining tailwind reputation from its sister Dogecoin token. Regardless of the latest traction, OKX workers wrote in its Pepe itemizing announcement:
“Digital property are revolutionary funding merchandise with excessive worth fluctuations and dangers. Earlier than investing, [OKX] hopes you have got a full understanding of digital property, rationally decide your funding means, and make funding choices prudently.”
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