Pepe (PEPE), the frog-themed memecoin, captured the attention of investors and the world’s largest crypto exchange, Binance, when it emerged on the crypto market. It quickly gained immense popularity and was listed on Binance, causing a surge of around 91.41% in its trading price. This made it stand out among both altcoins and memecoins alike. However, following the controversy surrounding the Coinbase newsletter, the hype surrounding Pepe has been overshadowed by its decline in price, leaving investors with huge losses.
The biggest question that this scenario has left us with is whether or not Binance had listed Pepe too quickly. While the memecoin was already popular in the crypto market and its price was rising, should Binance have waited longer before taking the risk of listing it? It is difficult to answer this question definitively, as exchanges often make split-second decisions that are hard to judge retrospectively. It is certain, though, that Pepe’s popularity and price dropped quickly, resulting in great losses for investors.
At the time of writing the trading price of Pepe stands at $0.000001254, declining by 15.52% in the last 24 hours. Such sharp declines in value largely depend on the rumors that circulate around the crypto market and often cause chaos. While investors can only hope for a turnaround in Pepe’s price, the role of Binance in this case has raised serious questions about whether or not the world’s largest crypto exchange acted too soon regarding Pepe’s listing.
Caroline Lewis
- 2023-05-12
The Decline of Pepe the Memecoin
Has Binance acted too quickly by listing Pepe among altcoins and memecoins? With the sharp decline in its trading price, investors were left with huge losses and serious questions remain.
