Binance.US has announced the listing of the popular memecoin PEPE, marking another step in the competitive battle among crypto exchanges for the memetoken market share.
Memecoin Listings on Binance.US
Trading of meme coin PEPE against Tether, a stable cryptocurrency, will commence on December 5 at 6:00 am Eastern, Binance.US announced on December 4. This decision was influenced by President-elect Donald Trump's win on November 5, prompting exchanges like Binance.US and Coinbase to expand their offerings in the memetoken market.
Popularity of Memecoins
Since its inception, PEPE has seen considerable popularity among crypto community participants, largely driven by social media and community support, as noted by Binance.US. As of December 4, PEPE's market capitalization stood at nearly $9 billion, according to CoinGecko. The collective market cap for all memecoins at this date reached over $130 billion. Some of these, like Bonk (BONK), Moodeng (MOODENG), Mog (MOG), and Dogwifhat (WIF), were recently added to Coinbase and Binance.US.
Origins of Pepe
Pepe was created in 2005 by artist Matt Furie and subsequently became a popular internet meme, particularly among cryptocurrency enthusiasts. Other Furie creations, such as Brett (BRETT), Andy (ANDY), and Landwolf (WOLF), also became popular memecoins. During the 2016 US presidential election, Pepe imagery gained popularity among alt-right groups, drawing controversy. In 2019, Furie sued Infowars and its creator, Alex Jones, for using the character in political materials. According to the Anti-Defamation League, 'the majority of uses of Pepe the Frog have been, and continue to be, non-bigoted.'
The memecoin PEPE continues to gain traction, and cryptocurrency exchanges are actively listing it, indicating growing interest in memetokens among market participants.
