Pepe has become the first meme coin to be officially listed on a Japanese cryptocurrency exchange.

According to a report by CoinDesk Japan, BITPoint Japan, a centralized crypto exchange launched in 2016 and licensed by the country’s Financial Services Agency, listed Pepe today.

BITPoint will offer spot trading, lending and savings services for the third-largest meme coin by market cap—currently at $4 billion with a max supply of 420.69T PEPE.

The Japanese exchange will also run two campaigns. Firstly, 10 BITPoint users who purchase at least 10,000 yen worth of PEPE will be eligible for a lottery worth 100,000 yen. This campaign will be completed on Nov. 27.

Another would be a giveaway for the exchange’s X followers.

PEPE’s bullish case

PEPE launched in April 2023 and was named after the 2000s internet meme, “Pepe The Frog.” The meme coin is up by over 34,000% from its launch price and is trading at $0.0000095 at the time of writing.

At this point, PEPE has already been listed on leading crypto exchanges like Binance, Bybit, OKX and Upbit, to name a few.

Usually, major exchange listings trigger a short-term FOMO among investors, pushing the price upward.

PEPE has been seeing increased volatility since reaching an all-time high of $0.000017 on May 27. However, the asset’s Relative Strength Index is currently at 53, showing that PEPE is neither overbought nor oversold. 

This puts the meme coin in good condition for a potential price surge as the broader crypto market is recording massive gains. Per a crypto.news report, the global crypto market cap surpassed the $2.5 trillion mark as the Bitcoin exchange-traded funds registered consecutive inflows.

Source : crypto.news - Oct 30, 2024