Pepe Shakes Off CZ’s Controversial Views On Meme Coins, Shoots Up 709%

Christian Encila

2 years ago

3 mins read

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Pepe Coin has emerged victorious in the battle against skepticism and doubt, with an incredible rally that left even its harshest critics astounded.

Despite the naysayers, including Changpeng “CZ” Zhao, the CEO of Binance, who openly expressed his confusion towards meme coins, Pepe proved to be a force to be reckoned with.

The coin has experienced a stunning resurgence, with Coingecko reporting a jaw-dropping 100% rally in just 24 hours, putting its price at $0.00000221.

The momentum didn’t stop there, as the coin continued its meteoric rise, boasting a remarkable seven-day increase of 708%, defying all expectations and proving its worth as a contender in the world of meme coins.

Source: Coingecko

CZ Expresses Confusion Over Meme Coins

During a recent Twitter Spaces conversation, CZ expressed his confusion over the concept of meme coins. Despite this, he stated that Binance’s decision to list such coins is primarily based on user interest and trading volume, rather than his personal understanding of the coins.

“I personally never really understood meme coins,” the Binance chief said. “There are many successful people who do seem to understand them, including Elon Musk, and others, so we go by users.”

CZ did acknowledge that meme coins like Pepe have recently gained popularity, and while Binance does not base listing decisions purely on hype, they do consider the level of speculative interest surrounding a coin.

Pepe is a recent example of a meme coin that has seen an incredible surge in price since its launch on April 14, with a price increase of nearly 38,900%. While the Binance big boss may not fully comprehend the concept of meme coins, he remains neutral on listing decisions, leaving them in the hands of a separate team at his exchange.

Crypto total market cap currently at $1.16 trillion. Chart: TradingView.com

Potential Factors Behind Impressive Rise Of Pepe Coin

Pepe’s incredible price surge can be attributed to several factors. Firstly, the current market is experiencing an upswing, with most coins and tokens seeing a rise in value following the announcement of a 25 basis point increase in interest rates by the US Federal Reserve.

Pepe Coin’s debut coincided with this market uptick, contributing to its initial spike in value.

Additionally, crypto whales have taken notice of Pepe Coin, with many investing in the latest meme coin. One notable example saw a crypto whale swapping all their assets for Pepe, immediately netting a profit of over $1 million.

Other whales have also used the price surge to lock in profits, resulting in exponential returns on investment.

-Featured image from Twitter/Watcher Guru

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.