The frog-themed meme coin, $PEPE coin, continued to obtain more traction during the early Asian market on Friday, having gained as much as 19.76 per cent in the past 24 hours to trade around $0.0000002692.
The Ethereum-based meme coin, which aims to capitalize on the success of Dogecoin and Shiba Inu, saw its market capitalization rise above $100 million within the first few days of launching.
According to the latest market data from Coingecko and Binance-backed Coinmarketcap, the PEPE meme coin had a market capitalization of approximately $112,705,697 and a 24-hour traded volume of about $35,710,327.
$PEPE Coin Gets Binance’s Attention
Currently, $PEPE is listed and traded on Deepcoin, CoinW, Bitget, BTCEX, and BingX. However, these are small centralized exchanges in daily traded volume compared to the likes of Binance, Coinbase, and MEXC Global.
As a result, the team behind the PEPE coin would much like to get attention from the top exchanges to attract whale traders.
In a stunning move, Binance has added a guide on how to purchase PEPE through its Web3 products.
Notably, Binance has informed its users that they can access PEPE coin through its Trust wallet by purchasing Ether and swapping it via DEXes like 1inch.
Often, such moves are preceded by a listing on the centralized exchange if the DEX trading volume sustains for a set period. Moreover, more traders mean enhanced liquidity even for the derivatives and futures market.
Price Action
The meme coin began on a high note, which gave initial investors high returns. However, the meme coin was poised for diminishing returns as the hype around it fades with time.
Currently, the meme coin has consolidated around the same level in the past week. If the buyers hold on to their momentum against early holders liquidating for some profits, the meme coin could break out for more gains in the coming weeks.
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- Source: https://coinpedia.org/altcoin/pepe-coin-up-nearly-20-today-is-binance-listing-underway/
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