- This comes after Binance announced the listing of the token
- Since April 14, PEPE has grown by 4000%
- And in the last 24 hours it has grown by almost 100%
- It now ranks 42nd on coinmarketcap
The Pepe memcoin has grown by 85% in the last 24 hours and its market capitalization is now more than $1 billion, to be precise $1,110,270,396 (as of this writing).
The token reached that mark in just three weeks after launch. This growth is not positive for some traders. The price hike in the last 24 hours resulted in huge losses.
Data show that those who shorted PEPE lost at least $11 million.
There were $5.5 million liquidations on OKX, $2.2 million on Huobi, $3.6 million on Bybit and several hundred thousand dollars more on BitMEX.
Pepe thus ranked third after the elimination of BTC and ETH futures. Ironically, the main value of the PEPE coin is that there is no.
The cryptocurrency’s official website has a warning that describes investing in the token as follows:
“$PEPE is a meme coin with no intrinsic value or expected financial return. No official team or roadmap. The coin is completely useless and is only for entertainment.”
The rise of the coin came when the Binance exchange announced that it would list PEPE on its platform. Binance customers will be able to trade token from Saturday.
However, the company’s message says:
“Please note that the token has no utility and is created by an anonymous team.”
The Binance CEO also added on Twitter:
“Meme coins are high risk! Remember, no one is forcing you to buy them. Do your own research and be responsible for your own actions”
For more information on PepeCoin, please see our story.