As a seasoned researcher with over two decades of experience in the ever-evolving world of cryptocurrencies, I find myself continually intrigued by the rapid pace of developments within this space. The recent listing of Pepe on BITPoint Japan is yet another testament to the global adoption of meme coins and their potential to disrupt traditional financial markets.
Pepe has become the first meme coin to be officially listed on a Japanese cryptocurrency exchange.
As per a report by CoinDesk Japan, BITPoint Japan – a cryptocurrency exchange established in 2016 and regulated by the Japanese Financial Services Agency – has added Pepe (PEPE) to its platform today.
BITPoint is going to provide spot trading, loaning, and savings options for the third most valuable meme coin by market capitalization, which is currently valued at around $4 billion and has a maximum supply of approximately 420.69 trillion PEPE tokens.
Additionally, the Japanese exchange plans to conduct two promotions. Initially, 10 BITPoint users who buy at least 10,000 yen of PEPE tokens will automatically enter a draw for a prize of 100,000 yen. This competition concludes on November 27.
Another would be a giveaway for the exchange’s X followers.
PEPE’s bullish case
In April 2023, PEPE made its debut, taking its name from the popular internet meme “Pepe The Frog” from the 2000s. Since its launch, this digital coin has soared, with a whopping increase of more than 34,000% over its original price. As I write this, PEPE is trading at $0.0000095.
Currently, PEPE can be found trading on some prominent cryptocurrency platforms such as Binance, Bybit, OKX, and Upbit, among others.
Typically, when a significant stock starts trading on popular exchanges, it often sparks temporary fear of missing out (FOMO) among investors, causing the price to rise in the short term.
Since hitting its record peak of $0.000017 on May 27, PEPE has been experiencing heightened price fluctuations. Yet, the asset’s Relative Strength Index (RSI) stands at 53, indicating that PEPE is neither excessively bought nor sold beyond its normal levels.
This positions the meme coin favorably for a possible price jump, given that the overall cryptocurrency market is experiencing substantial growth. According to an article on crypto.news, the global cryptocurrency market capitalization exceeded $2.5 trillion, with Bitcoin (BTC) exchange-traded funds consistently attracting more investments.
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2024-10-30 10:30