PEPE Tops Floki, Baby Doge Coin in Dramatic TOP 100 Entrance

PEPE Surges 365% in a week: New World Order In memecoins or quickly fading hype?

Pepe with a crown sitting on a rock in a pond surrounded with lilies.
Created by Kornelija Poderskytė from DailyCoin
  • Emerging memecoin PEPE is the top gainer of the week.
  • Entering at #89, PEPE now has a market cap of $525M.
  • Floki drops 29% a week after adoption by Binance.US.

Iconic internet meme Pepe the Frog-themed memecoin Pepe (PEPE) is the most talked about cryptocurrency on Twitter this week. The amphibian-emblazoned crypto catapulted by 365% since last week, totaling the bi-weekly gains to 552%.

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Further, the three-week-old memecoin project scored 149,000 followers on Twitter, while $PEPE now has over 71,000 holders, according to Etherscan. Unexpectedly throwing the gauntlet to Shiba Inu and Dogecoin,  Pepe entered the global crypto charts at $0.00000107 yesterday.

Since then, the caecilian coin broke a new resistance line to level up to #89. At press time, the Pepe trades at $0.00000120, according to CoinGecko. Dominating 0.042% of the market, $PEPE has been the ninth most traded cryptocurrency in the world in the past 24 hours with a surging trading volume of $387,792,875.

Binance Boss CZ Fires Shots at PEPE

In a recent Ask-Me-Anything (AMA) session on Twitter Spaces, Binance CEO Changpeng ‘CZ’ Zhao replied to YourPOP’s question regarding $PEPE. The popular crypto influencer asked when Binance would list Pepe.

In response, Binance Chief CZ said “We don’t like coins that have a very small circulating supply… but they have a large total supply in reserve.” Ultimately, the founder of the leading crypto platform refers to pumps and dumps. “We try to avoid those types of situations,” CZ adds, acknowledging that a suddenly increased supply usually is followed by a dramatic price plunge.

The Binance Boss’s position caused immense backlash from Crypto Twitter, while part of the community still insisted that PEPE be listed on Binance. Nevertheless, YourPOP, the popular crypto YouTuber that authored the question, deems the collaboration of Binance and Pepe Token “inevitable,” despite the somewhat negative assessment from CZ.

On the Flipside

  • According to an independent crypto price data aggregator, Pepe’s (PEPE) circulating supply, max supply, and total supply are all capped at the same amount of 420,690,000,000,000 PEPE coins.

Why You Should Care

Memecoins often inspire broader rallies in altcoins and pursue retail crypto adoption.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.