SNEAK PEEK

• After delivering impressive profits to early investors, PEPE is moving towards achieving $1 billion.
• A remarkable surge has been recorded in the trading volume of the meme coin.
• BitMEX listed Pepe on May 3, and users can trade the crypto via PEPEUSD and PEPEUSDT trading pairs.

The current sensational meme coin and one of the most successful cryptos of 2023, PEPE, has performed phenomenally, thanks to its market capitalization reaching towards $1 billion, as shown by CoinGecko’s data. 

The last 24 hours have witnessed PepeCoin move up another 78%. The 24-hour trading volume of Pepe has surpassed $610 million. 

The digital currency has proved to be a powerful competitor in the world of meme coins and has even given a tough time to the very popular Shiba Inu. 

Listing on the popular crypto exchange BitMEX is the major reason behind the sudden increase in the market cap of PEPE alongside an increase in its trading volume. Owing to the listing, users can trade Pepe against Tether and the US dollar with up to 50x leverage. 

Besides market cap and trading volume, there’s been a massive rise in Pepe’s popularity, which is confirmed by its 24-hour trading volume going ahead of the long-standing Dogecoin. MEXC Global, Gate.io, OKX, and Huobi are other exchanges where Pepe is listed. 

Pepe being listed on BitMEX and other prominent exchanges not only validates it but adds to more reasons for traders to be attracted to it. Furthermore, the coin is quite speculative too, as it has dropped 15% in the last 24 hours. 

A key investor known as ‘SmartMoney‘ has made hefty profits from PEPE and Shiba Inu by emphasizing the speculative nature of the digital asset. 

The significant jump in the market cap and trading volume hints towards major returns; however, concerns regarding market manipulation emerge at the same time. Investors must be alert and careful while investing in such extremely volatile, meme-based cryptos. 

The rapid rise of Pepe is remarkable, though it also highlights the unpredictable nature of the crypto market.