On May 1, the cryptocurrency exchange OKX announced that it will list memecoin Pepe (PEPE) at 17:00 Hong Kong time, and open the withdrawal of Pepe at 17:00 on May 2. In support of the listing decision, OKX staff wrote.
"Pepe the Frog is a cartoon character and meme created by cartoonist Matt Furie. Pepe is designed as a green frog with a humanoid body; it's one of the most popular memes in the world." Several cryptocurrency exchanges, including MEXC Global, Bitget, Gate.io, and Huobi, listed Pepe trading pairs two weeks ago, sparking what appeared to be a frenzy of deals. The token has returned 2,340% since April 17 and is currently trading at $0.000001223 per share at press time. Following new s of the OKX listing, Pepe's price surged more than 50% in the past 24 hours.
According to CoinMarketCap, the Pepe token was created on the Ethereum blockchain by an anonymous developer “as a tribute to the Pepe the Frog internet meme” in order to capitalize on the popularity of memecoins like the Shiba Inu SHIB and Dogecoin . In 2021, DOGE has soared more than 23,000%, partly due to American business mogul Elon Musk's outpouring of support for the token on social media. Likewise, during the 2021 crypto bull run, SHIB surged more than 1,250% after its sister coin , Dogecoin token, gained tailwind popularity. Despite the recent attention, an OKX employee wrote in his Pepe listing announcement:
"Digital assets are innovative investment products with high price fluctuations and high risks. Before investing, [OKX] hopes that you have a full understanding of digital assets, rationally judge your investment capabilities, and make investment decisions prudently."
