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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

PEPE Market Cap Crosses $1 Billion As Gemini Listing Rumors Spread

Best Owie
Best Owie
1 year ago
3 mins read
PEPE

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Crypto Twitter’s favorite new meme coin Pepecoin (PEPE) has hit another milestone. With an impressive rally over the last 24 hours, the coin crossed the $1 billion market cap mark and has now solidified its position as a top 100 cryptocurrency. But after rallying over 20,000x since its launch three weeks ago, what could be driving this fresh rally for the meme coin?

Gemini Listing Rumors Spurs New Growth

On Thursday, Tyler Winklevoss, one of the co-founders of the Gemini exchange, tweeted a frog emoji that spurred listing rumors in the PEPE community. The tweet which carried only the single emoji was followed up by another tweet with the emoji but this time with the words “sounds rare” added to it.

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Following the tweets, rumors quickly spread that the exchange may be planning to list the meme coin which has been pulling in significant volume since its launch. The rumors were further fueled by the PEPE team moving its treasury holdings to a multi-sig wallet.

The reason for this is that larger exchanges oftentimes require team treasury funds to be secured before they are listed. So speculations rose quickly about a possible listing and the Winklevoss tweet has the community convinced that the Gemini listing is coming next.

over the next hour you will see some transactions taking place from $PEPE pepecexwallet.eth.

a multi-sig is being created and the cex-wallet tokens will be transferred to the safe. pic.twitter.com/anh6VGxjeN

— Pepe (@pepecoineth) May 4, 2023

PEPE Rises 100% In One Day

At this point, it is no longer a surprise when PEPE moves so quickly. But moving from a $500 million market cap to over $1 billion in one day in a bear market is a considerable feat. Nevertheless, that is what the meme coin did.

Data from on-chain aggregator CoinGecko shows that PEPE’s price moved from a price of $0.00000114 which it opened the day with to a new all-time high of $0.00000310. This brought its market cap to a peak of $1.1 billion.

Pepecoin (PEPE) price chart from TradingView.com

PEPE reaches new all-time high before correcting downward | Source: PEPEUSDT on TradingView.com

If the Gemini listing rumors are true, then the meme coin could be gearing up for a run to $2 billion just off the listing alone. Its 24-hour trading volume of $800 million is also significantly higher than that of its largest competitors, including Dogecoin at $253 million and Shiba Inu at $94 million.

The meme coin has already been listed by Binance in its Innovation Zone and more exchanges are expected to follow suit.

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Interestingly, another 6x move from its current price would see the market cap of PEPE flip SHIB, something that would be a considerable feat, making it the second-largest meme coin by market cap. However, for now, PEPE is resting easily as the third-largest meme coin in the market.

The community has also grown rapidly and as of the time of this writing, the PEPE official Twitter has over 233,000 followers. On-chain data also shows that there are now almost 92,000 holders of the less than one-month coin.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from PYMNTS, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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