The listing of PEPE on Binance on Saturday marked a significant milestone for the meme coin. However, PEPE has reversed some of its gains accrued from earlier in the week.
Since its introduction, it would be an understatement to say that PEPE has been a significant sensation. The coin’s price has been soaring for over a week, setting a succession of new All-Time Highs (ATHs). As a result of its exponential development, PEPE achieved unicorn status with a market capitalization of $1.17 billion.
As the 42nd largest alternative currency, PEPE reversed some of its gains following the Binance listing, as early purchasers and whales dumped their holdings to realize a profit. Due to the extreme volatility that followed the listing, the largest trading platform was compelled to suspend the PEPE, FLOKI, and Shiba Inu market order functions.
At the time of writing, the PEPE price has begun regaining momentum despite the losses incurred, as evidenced by a decline in trading volume of more than 56%. The token trades at $0.000002991, representing a marginal increase of 1.35 percent over the past 24 hours.
This remains a concern on the minds of many digital currency ecosystem observers. Several whales and influencers missed the PEPE craze, and others would like to know if there is still time to invest.
PEPE and other meme coins currently represent a movement that can be continuously recycled. There may be a significant price correction now that PEPE is trading on Binance; however, if the token’s primary developers continue introducing additional utility and unique ecosystem updates like SHIB, the token’s hype may be just beginning.
Following the words of Chris Blec, the current volatility necessitates caution, and this meme coin revolution may come back to harm some unwary investors.
