Potential Revival of Meme Coins: The Impact of PEPE Coin's Rumored Listing on Binance
PEPE coin, a meme-based cryptocurrency, has recently become the center of attention in the crypto community. Within just ten days of its launch, it amassed a market capitalization of $549 million, triggering a meme coin hype that had been dormant for some time.
Despite the sudden upsurge in investment and general interest in PEPE, other top meme coins like Dogecoin and Shiba Inu chose to follow Bitcoin's cues. This caused the initial hype to die down soon after.
While PEPE coin did initiate the meme coin upsurge over the last two weeks, it failed to translate into growth for the already existing bunch of meme tokens. Investors turned bullish for a while, and some meme coins saw an increase in investors. However, once the hype died down, all meme coins that had the potential for charting gains started following Bitcoin's price action.
PEPE coin, however, still commands a substantial audience on social channels. It is currently getting more queries regarding crypto than even Dogecoin. Additionally, Binance, a popular crypto exchange, recently published a buying guide for PEPE coin, which has sparked rumors of an imminent listing on the exchange.
If this rumor ends up being true and PEPE coin gets listed on Binance, it might be able to reinvigorate the dying meme coin hype. However, this may not be the best thing for the crypto market, given that meme coins tend to attract investors during rallies and leave the cryptocurrency with no solid support when the market turns bearish.
At the moment, PEPE coin is listed on smaller exchanges like Gateio, Bitget, and BingX, but not on larger ones like Binance, and Coinbase. Its current price is up by 127% in last 24 hours and is trading around $0.000001300.
In conclusion, PEPE coin has emerged as a potential savior of meme coins. While it triggered the meme coin hype, it failed to translate into growth for other meme tokens. Nevertheless, the coin still commands a substantial audience on social channels and has sparked rumors of a listing on Binance. Only time will tell if this rumor ends up being true and if PEPE coin can reinvigorate the dying meme coin hype.