The US exchange Coinbase updated its listing plan last night, announcing that the meme coin PEPE (Pepe the Frog) will soon be listed. Coinbase's Chief Legal Officer @iampaulgrewal tweeted, "Sorry for the wait, this frog will be available to buy soon."
In addition, Robinhood has also simultaneously listed PEPE. Driven by the listing incentives of these two major platforms, PEPE has risen rapidly, with its market value exceeding $10 billion, reaching a high of $0.00002588, a single-day increase of 91.1%.
On-chain data shows that after Coinbase announced the listing, a PEPE whale transferred 122 million PEPE, worth about $1.65 million, to Binance. Does this mean that the whale expects the peak to arrive and plans to sell for profit?
Trump's victory in the 2024 presidential election is seen as a positive for cryptocurrencies, which may help PEPE become the second-largest meme coin after DOGE. Last year, as institutions like BlackRock and Fidelity focused on cryptocurrencies, the market grew exponentially; the meme coin sector also thrived, with PEPE's rise being particularly prominent. This frog-themed token has been soaring since its launch in April last year, driven by the enthusiasm of its community and the bull market. In the past 7 days, PEPE has risen by more than 90%, with its market value exceeding $8 billion. Although Shiba Inu (SHIB) has risen 37% during the same period, its $15 billion market value has not been affected by the meme coin rally. Can PEPE increase its market value by $7 billion to surpass SHIB? This may be achieved in the future, especially considering that SHIB's growth has slowed, while PEPE remains strong. If the trend continues, the meme coin sector may see a reorganization by 2025.
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