Gemini is excited to declare that they now support Pepe and users can deposit this cryptocurrency on the Gemini website and ActiveTrader.
What is Pepe?
Pepe coin is a token that runs on the Ethereum blockchain and was introduced to the market on April 14, 2023. Similar to other meme-inspired coins like Dogecoin (DOGE) and Shiba Inu (SHIB), PEPE rapidly gained traction and became very popular within days of its launch, reaching a market capitalization of around $750 million as of May 9, 2023.
Due to the hype around meme culture, many investors are turning to digital assets in hopes of striking it rich, just like with Dogecoin and Shiba Inu. Pepe coin is no exception and has provided investors with remarkable returns.
Gemini, a cryptocurrency exchange, has been hinting at the possibility of adding PEPE to its platform for some time now. Recently, the exchange made an official announcement that deposits for this meme coin are now being accepted.
Gemini has announced in a recent blog post that the PEPE coin will soon be available for trading on their platform. However, at first, trading will be restricted to Gemini’s API/FIX and ActiveTrader applications, and will only be paired with USD.
Subsequently, PEPE will be available for trading on the Gemini Mobile App and website, with trading pairs including USD, GBP, EUR, CAD, AUD, HKD, and SGD. In the post, the exchange also explained the rationale behind adding this unique coin.
PEPE’s Worth: Is Another Significant Increase on the Horizon?
Currently, the value of PEPE coin stands at $0.000002016, indicating a daily surge of 7.37%. Over the last 24 hours, the market capitalization of the coin has risen to $789,900,361, which is a 7.52% increase. Although the daily trading volume has decreased by around 52.98% compared to the previous day, it is expected to pick up once Gemini begins trading the coin.
PEPE’s current trading value is 53.65% lower than its all-time high of $0.000004354. However, the listing of PEPE on Gemini is predicted to serve as a stimulant for the coin to regain this level in the near future. It is projected that this listing will attract more investors to purchase PEPE, leading to an increase in its value. Additionally, there are rumors that other exchanges may follow suit and add PEPE to their platform, which may potentially raise its worth even more.