More crypto exchanges list PEPE following trading frenzy
On May 1, cryptocurrency exchange OKX announced that it would be listing memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on May 2 at 17:00 HKT. In supporting the listing decision, OKX staff wrote:
Several cryptocurrency exchanges, including MEXC Global, Bitget, Gate.io and Huobi, listed Pepe trading pairs two weeks prior, stirring what appears to be a trading frenzy. The token has returned 2,340% since April 17 and is now trading at $0.000001223 apiece at publication. Following news of the OKX listing, Pepe’s price has surged over 50% in the past 24 hours.
Created on the Ethereum blockchain by anonymous developers, the Pepe token was created, according to CoinMarketCap, “as a tribute to the Pepe the Frog internet meme,” with the aim of capitalizing on the popularity of memecoins such as Shiba Inu (SHIB) and Dogecoin (DOGE).
In 2021, DOGE surged by over 23,000%, partly due to American business magnate Elon Musk’s vocal support for the coin on social media. Similarly, SHIB surged by over 1,250% during the 2021 cryptocurrency bull market after gaining tailwind popularity from its sister Dogecoin token. Despite the recent traction, OKX staff wrote in its Pepe listing announcement:
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