The price of the frog-themed Pepe memcoin ($PEPE) has risen over 100% in the last 24 hours since the token was listed on popular cryptocurrency exchange Coinbase.
According to market data, #PEPE is now up over 103% in the last 24 hours following its recent explosive growth after listing, trading at 0000103 per #token compared to 00000209 per token before listing.
The listing was published on microblogging platform X (formerly known as Twitter), and a message from #Coinbase Chief Legal Officer Paul Grewal announced that Coinbase was adding PEPE.
The surge in prices has led to a significant increase in profit taking activity, with profit trading volume reaching a staggering £53.14 trillion, valued at £1.16 billion. This surge in profit taking is a strong indicator of potential selling pressure, suggesting that PEPE could face price declines in the short term.
The popular PEPE coin, inspired by the infamous meme and cartoon character Pepe the Frog, was launched in 2023/4/17. Despite warnings about the potential for counterparties to alter transaction taxes and the possibility of blacklisting, the PEPE market is experiencing an alarming boom.
It was previously reported that lucky #cryptocurrency investors were able to turn a PEPE investment of 0.125 ETH into a staggering 1 million in just a few days by buying 1.14 million at the right time.
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