On Might 1, cryptocurrency change OKX introduced 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 resolution, OKX employees 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 World, 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 value has surged over 50% previously 24 hours.
Created on the Ethereum blockchain by nameless builders, the Pepe token was created, based on CoinMarketCap, “as a tribute to the Pepe the Frog web meme,” with the intention of capitalizing on the recognition of memecoins similar to Shiba Inu (SHIB) and Dogecoin (DOGE).
In 2021, DOGE surged by over 23,000%, partly attributable to American enterprise magnate Elon Musk’s vocal help for the coin on social media. Equally, SHIB surged by over 1,250% through the 2021 cryptocurrency bull market after gaining tailwind recognition from its sister Dogecoin token. Regardless of the current traction, OKX employees wrote in its Pepe itemizing announcement:
“Digital property are modern funding merchandise with excessive value fluctuations and dangers. Earlier than investing, [OKX] hopes you’ve got a full understanding of digital property, rationally choose your funding means, and make funding choices prudently.”
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