- The meme coin market has witnessed significant moves in the Asian sector.
- Pepe Coin (PEPE) has been listed on South Korea’s largest cryptocurrency exchange, Upbit.
- Upbit announced the addition of USDT trading pairs for PEPE and Brett (BRETT) meme coins.
PEPE Coin gains significant traction with listing on Upbit, South Korea’s largest cryptocurrency exchange.
PEPE Coin Enters South Korean Crypto Giant Upbit
In a noteworthy development for the meme coin market, Pepe Coin (PEPE) has made a significant entry on Upbit, South Korea’s largest cryptocurrency exchange. Upbit unveiled that it would be supporting USDT trading pairs for both PEPE and Brett (BRETT). While PEPE operates on the Ethereum network, BRETT functions on the Base network. It’s crucial to note that deposits and withdrawals must align with the specified networks to avoid transaction issues.
The Rise of PEPE’s Community-Driven Ecosystem
Pepe Coin was launched on the Ethereum network in April 2023 and quickly distinguished itself as a notable competitor to Shiba Inu with its iconic frog character. Despite the absence of its own token utility, the PEPE coin has gained traction thanks to its community-driven ecosystem. The listing on Upbit is viewed as a strategic move to leverage its market position, especially following a significant transfer of 500 billion PEPE worth $4 million to Kraken, a prominent U.S.-based exchange.
Market Reaction and Performance
The market has responded positively to the listing, with PEPE witnessing a price surge of 11.55%, pushing its value to $0.000008053 at the time of writing. This marks the first significant price rebound for PEPE within the past week, signaling a potential bullish momentum.
Volatility and Long-Term Outlook
Earlier this month, PEPE, along with other altcoins, experienced substantial liquidations, with $2.85 million worth of PEPE being withdrawn by investors. This included $1.86 million from longs and another $967,980 from shorts. Despite the volatility, analysts suggest that PEPE is poised to challenge Shiba Inu in the long run, given its recent strategic moves and community support.
Conclusion
The listing of Pepe Coin on Upbit represents a significant milestone in its market journey. With positive market reactions and strategic positioning, PEPE appears to be gearing up for more significant movements. Observers will be keenly watching to see if PEPE can sustain its momentum and continue its rise within the competitive meme coin landscape.
