• Binance announced it will list Pepecoin (PEPE) in its Innovation Zone with spot trading pairs PEPE/USDT and PEPE/TUSD.
• The 24-hour trading volume for Pepecoin (PEPE) has jumped to over $3 billion and the price has surged by 33.53% over the last 24 hours.
• The frenzy around Pepecoin has pushed the gas fee on Ethereum blockchain to a 12-month high, with traders accounting for 410,000 transactions on Uniswap and burning about $10 million worth of gas.
Binance Lists PepeCoin
Binance, the world’s largest crypto exchange, announced that it will list Pepecoin (PEPE) in its Innovation Zone with spot trading pairs PEPE/USDT and PEPE/TUSD. As of press time, PEPE is trading 33.53 percent up over the last 24 hours at a price of $0.000002799 with a market cap above $1 billion.
PepeCoin Trading Volume Surges
The 24-hour trading volume for Pepecoin (PEPE) has jumped to over $3 billion after Binance announced that it would allow spot trading for PEPE coins, leading to a massive surge in demand and liquidity boost. A whale moved a staggering $15 million worth of Pepecoins to Binance, profiting nearly $15 million amid the strong surge in the PEPE price.
High Gas Fee On Ethereum Blockchain
The frenzy around the ERC20 frog-themed memecoin has recently pushed the gas fee on the Ethereum blockchain to a 12-month high at 87 gwei due to high demand from traders of Pepecoin who have accounted for more than 410,000 transactions on Uniswap burning about $10 million worth of gas.
Will Price Explode?
With listing on Binance giving massive liquidity boost driving prices higher and investors getting multifold returns within two weeks after launch; many are wondering whether this will lead to further volatility or even an explosion in prices going ahead?
It remains to be seen how far can this mania go as experts believe that some investors could possibly induce strong selling pressure due to profit taking opportunities created by such huge gains made within days after launch.