Traders excitement led to additional cryptocurrency markets listing PEPE

Memecoin Pepe (PEPE) was listed on the OKX cryptocurrency exchange on May 1 at 17:00 Hong Kong Time (HKT), with Pepe withdrawals beginning on May 2 simultaneously. OKX personnel wrote the following to bolster the listing decision:

“Pepe the Frog is a cartoon character and internet meme created by cartoonist Matt Furie. Pepe was designed to be a green frog with a human-like body; this is one of the most popular memes in the world.”

Two weeks ago, a trading frenzy broke out after many cryptocurrency exchanges, including MEXC Global, Bitget, Gate.io, and Huobi, launched trading pairs for Pepe.

Since April 17, the token has gained 2,340% and is currently trading at $0.000001223. In the 24 hours since the OKX listing was announced, Pepe’s price has increased by almost 50%.

The Pepe token, launched on the Ethereum blockchain by unnamed developers, was established “as a tribute to the Pepe the Frog internet meme,” as reported by CoinMarketCap, intending to ride the wave of success experienced by other memecoins like Shiba Inu and Dogecoin.

Due in no small part to American business magnate Elon Musk’s public endorsement of the coin on social media, DOGE grew by more than 23,000% in 2021.

Like its sibling token Dogecoin, SHIB saw a massive increase of over 1,250% during the 2021 cryptocurrency bull market. OKX staff wrote in its Pepe listing announcement that:

“Digital assets are innovative investment products with high price fluctuations and risks. Before investing, [OKX] hopes you have a full understanding of digital assets, rationally judge your investment ability, and make investment decisions prudently.”