Pepe’s price continues to rise, but is its growth sustainable?

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The price of Pepe, the cryptocurrency linked to the iconic Internet meme Pepe the Frog, continues to rise and has become a notable competitor in the memecoin market. challenging the Shiba Inu (SHIB) and Dogecoin (DOGE)

His recent listing on BitMEX, a major player in the cryptocurrency exchange sector, has contributed to Pepe’s increasing market capitalization and trading volume. The BitMEX listing allows users to trade Pepe with up to 50x leverage against the US dollar and Tether.

The growing popularity of the Pepe memecoin has seen its 24-hour trading volume surpass even that of the well-established Dogecoin (DOGE), and early buyers are now turning a profit.

On the OKX exchange, the PEPE/USDT pair is currently trading at a price of $0.00000209. In the last 24 hours, the trading volume for this pair reached $318 million.

Also read: What is PepeCoin (PEPE)?

PEPE price Bullish or bearish?

In the last week, there has been a constant acquisition of this new coin by investors, causing the price to skyrocket sharply. According to information from CoinMarketCap, since its launch, PEPE has provided its initial investors with a remarkable 2,790% return on investment.

Since listing a spot PEPE/USDT pair on OKX on May 1, the exchange has skyrocketed to the top of PEPE volume. In addition, Binance has published a How to Buy Pepe (PEPE) Guide, with some users on Twitter speculating that a listing on the world’s largest exchange is also close. 

With the coin entering the top 100 cryptocurrencies on May 3, it looks like the top is getting frothy for the frog-inspired meme coin.