The memecoin phenomenon continues to grip the crypto market, with newbie memecoin Pepe leading the charts. The crypto community created a hype around PEPE coin that skyrocketed the value of the meme token as investors turned a few hundred into millions.
The craze around the PEPE coin caught on with popular exchanges as well. The news of PEPE’s listing on several of the largest crypto exchanges like Binance, Crypto.com, and KuCoin caught the eyes of serious investors as well.
When Binance announced the news of listing PEPE, the memecoin price recorded its all-time high of $0.00000420 last night, with a 100% intraday gain. Binance also listed Floki along with PEPE which caused Floki to surge over 50% as well.
Despite Little Profit Booking, PEPE maintains $1B Milestone
Due to the rapid jump in price, the market cap of PEPE reached $1.82 billion last night, the highest value of Memecoin. However, the cryptocurrency is facing a little pullback as short-term buyers booked their massive profits.
At the time of writing, PEPE is trading at $0.00000291 along with a 45% overnight gain, according to CoinGecko data. Similarly, the Floki token stays high by 35% with the current trading price of $0.0000463.
Taking a look at the hourly chart, the PEPE coin is witnessing mild selling pressure due to profit booking. Traders can consider this as a retracement phase before possibly surging toward higher levels.
The drop in price did not seem to faze investors as the activity on PEPE coin caused the trading volume to surge by 290% to $2.7 billion.
Following the listing of Floki and PEPE on Binance, a massive influx of investors caused the site to experience technical difficulties and temporarily suspend deposits for Floki and PEPE.
However, now Binance has resumed deposits for Floki and PEPE coins, and Memecoin enthusiasts can again buy both these tokens in bulk.
