PEPE Market Cap Crosses $1 Billion As Gemini Listing Rumors Spread
May 05 2023 - 1:00PM
NEWSBTC
Crypto Twitter’s favorite new meme coin Pepecoin (PEPE) has hit
another milestone. With an impressive rally over the last 24 hours,
the coin crossed the $1 billion market cap mark and has now
solidified its position as a top 100 cryptocurrency. But after
rallying over 20,000x since its launch three weeks ago, what could
be driving this fresh rally for the meme coin? Gemini Listing
Rumors Spurs New Growth On Thursday, Tyler Winklevoss, one of the
co-founders of the Gemini exchange, tweeted a frog emoji that
spurred listing rumors in the PEPE community. The tweet which
carried only the single emoji was followed up by another tweet with
the emoji but this time with the words “sounds rare” added to it.
Related Reading: Pro-XRP Attorney Shares Information That Could Be
Bullish For Ripple Following the tweets, rumors quickly spread that
the exchange may be planning to list the meme coin which has been
pulling in significant volume since its launch. The rumors were
further fueled by the PEPE team moving its treasury holdings to a
multi-sig wallet. The reason for this is that larger exchanges
oftentimes require team treasury funds to be secured before they
are listed. So speculations rose quickly about a possible listing
and the Winklevoss tweet has the community convinced that the
Gemini listing is coming next. over the next hour you will see some
transactions taking place from $PEPE pepecexwallet.eth. a multi-sig
is being created and the cex-wallet tokens will be transferred to
the safe. pic.twitter.com/anh6VGxjeN — Pepe (@pepecoineth) May 4,
2023 PEPE Rises 100% In One Day At this point, it is no longer a
surprise when PEPE moves so quickly. But moving from a $500 million
market cap to over $1 billion in one day in a bear market is a
considerable feat. Nevertheless, that is what the meme coin did.
Data from on-chain aggregator CoinGecko shows that PEPE’s price
moved from a price of $0.00000114 which it opened the day with to a
new all-time high of $0.00000310. This brought its market cap to a
peak of $1.1 billion. PEPE reaches new all-time high before
correcting downward | Source: PEPEUSDT on TradingView.com If the
Gemini listing rumors are true, then the meme coin could be gearing
up for a run to $2 billion just off the listing alone. Its 24-hour
trading volume of $800 million is also significantly higher than
that of its largest competitors, including Dogecoin at $253 million
and Shiba Inu at $94 million. The meme coin has already been listed
by Binance in its Innovation Zone and more exchanges are expected
to follow suit. Related Reading: This Meme Coin Created By GPT-4 Is
Now Worth $40 Million, Here’s Why Interestingly, another 6x move
from its current price would see the market cap of PEPE flip SHIB,
something that would be a considerable feat, making it the
second-largest meme coin by market cap. However, for now, PEPE is
resting easily as the third-largest meme coin in the market. The
community has also grown rapidly and as of the time of this
writing, the PEPE official Twitter has over 233,000 followers.
On-chain data also shows that there are now almost 92,000 holders
of the less than one-month coin. Follow Best Owie on Twitter for
market insights, updates, and the occasional funny tweet… Featured
image from PYMNTS, chart from TradingView.com
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024