- Interest in the Pepe meme coin is on the rise.
- A Japan-based crypto exchange has tapped the memecoin in a historic move.
- Market whales are undeterred by the recent price performance.
The Pepe (PEPE) meme coin has solidified its status over the past few years as a top-performing asset in the industry, quickly climbing global crypto charts and reaching a $4 billion market cap. Despite facing some turbulence in recent weeks, community sentiment about the token’s long-term potential has remained optimistic.
In a boost to the ecosystem, the blue-chip memecoin has scored a notable expansion.
PEPE Lands In Japan
The Pepe (PEPE) token has become the first official memecoin to enter the Japanese market, facilitated by its listing on the crypto exchange BitPoint. On October 30, 2024, the Japan-based exchange announced the first-of-its-kind listing of Pepe, integrating the token into an extensive list of services.
The meme coin will be available for trading on BitPoint’s platform, which will also provide users with access to spot trading, lending, and other investment options.
BitPoint’s integration of PEPE into Japan’s crypto market has fueled optimism across the community, particularly for its ability to attract a broader audience and strengthen the token’s position globally.
However, the excitement stemming from the news has not positively impacted the price.
PEPE Token In a Sea of Red
Hovering around at $0.000009 at press time, the PEPE token has been on a downward trend over the past 24 hours. However, the decline in price is not isolated, as it extends the underwhelming trend the token has navigated all month long.
Despite occasional brief gains amid the hiccups, PEPE’s performance has been largely downward, falling approximately 14% in the last 30 days. The token’s present also reflects a 47% decline from its all-time high, ranking it 29th on global charts.
The underperformance builds on recent dumps by major portfolio holders, likely fueling a negative sentiment amid broader market fluctuations.
However, the community remains undeterred, as recent data shows an uptick in PEPE accumulation by major market participants. The increased activity suggests that confidence in the token’s potential is still strong, and it remains to be seen how recent developments positively impacts its growth.
On the Flipside
- Hong Kong-based crypto exchange Hasheky has also recently embraced the Pepe token.
- The PEPE coin’s underperformance is likely heightened by overall market instability.
- Kucoin recently integrated PEPE and other memecoins on its VISA card.
Why This Matters
The embrace of the PEPE meme coin by Japan’s BitPoint signals that despite the current downward trend, its long-term potential is still capturing industry attention.
Read this article for more about the PEPE sell-offs across the market:
Binance Whale Offloads PEPE Savings: Further Dip Incoming?
The ongoing Bitcoin rally is driving a major influx of funds into ETFs; find out more here:
Bitcoin’s Surge to $73K Sparks ETF Investor FOMO
