The PEPE coin, the popular memecoin on the Ethereum (ETH) blockchain, has been enjoying great success lately, with a market capitalization that has just exceeded $1.2 billion. The token was also listed on the Binance exchange today, as its all-time high (ATH) continues to rise daily.
Now more than 2 weeks ago, the PEPE coin had reached $110 million in market capitalization in the space of a few days. Today, the enthusiasm for the new memecoin of the moment is not diminishing at all, on the contrary: its capitalization has just exceeded 1.2 billion dollars. Although memecoins are particularly subject to (very) high volatility, PEPE still stands out. Indeed, over the last 7 days, its price has increased by more than 1,040%, enough to make similar altcoins pale. The FLOKI, for example, gained "only" 42% over the same period, in comparison.
Binance, the world's largest cryptocurrency exchange by volume traded, listed PEPE and FLOKI on the day of this article's publication. The PEPE is therefore available for trading on the PEPE/USDT and PEPE/TUSD pairs.
Moreover, as Arkham Intelligence pointed out, with massive on-chain activity on Ethereum, 33,500 ETH are currently being burned every week, the equivalent of $63.8 million.
As Binance recalls in its press release announcing the listing of the PEPE (and as also indicated on the memecoin site), the token has absolutely no use other than speculative interest
. Also, if you decide to invest, be aware of the extreme volatility risk of this type of asset. The PEPE entered the top 100 of the most capitalized cryptocurrencies on the market on May 1, and now sits in 42nd place according to CoinGecko, which places it ahead of the ALGO of Algorand, the FTM of Fantom or the EGLD from MultiversX.
