Dogecoin

April

Shiba Inu

Billion

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">The meme coin Pepe (PEPE) had plummeted more than 60% since hitting its all-time high (ATH) last Friday when it was <a href="https://tokenist.com/pepe-up-101-after-binance-confirms-listing/" rel="dofollow" class="deco-link">listed in Binance’s innovation zone</a>. The price drop erased over $1 billion off the cryptocurrency’s market cap in the past six days and is down 15% over the last 24 hours.</p> 
<h3 id="pepe-down-62-from-ath-as-investors-take-profits">PEPE Down 62% From ATH as Investors Take Profits</h3> 
<p>PEPE, a <a href="https://tokenist.com/meme-stocks-or-tokens-why-dog-coins-wont-be-the-next-gme/" rel="dofollow" class="deco-link">meme coin</a> that has been attracting much attention lately, saw its market cap plummet significantly after it was listed on the biggest crypto exchange worldwide. Specifically, the crypto coin’s market cap stood at $637.8 million on Thursday, down over 62% from the $1.67 billion it reached on May 5, when <a aria-label="Binance confirmed (opens in a new tab)" href="https://www.binance.com/en/support/announcement/binance-will-list-floki-floki-and-pepe-pepe-in-the-innovation-zone-f68a3bc6eb014ed9bacf1d6c71dc1134?ref=AZTKZ9XS&amp;utm_source=BinanceTwitter&amp;utm_medium=GlobalSocial&amp;utm_campaign=GlobalSocial" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Binance confirmed</a> its listing.</p> 
<center>
 <figure class="wp-block-image size-large is-resized">
  <img decoding="async" src="https://tokenist.com/wp-content/uploads/2023/05/PEPE_7D_graph_coinmarketcap-1024x582.jpeg" alt="" class="wp-image-153020" width="731" height="415" srcset="https://tokenist.com/wp-content/uploads/2023/05/PEPE_7D_graph_coinmarketcap-1024x582.jpeg 1024w, https://tokenist.com/wp-content/uploads/2023/05/PEPE_7D_graph_coinmarketcap-300x170.jpeg 300w, https://tokenist.com/wp-content/uploads/2023/05/PEPE_7D_graph_coinmarketcap-768x436.jpeg 768w, https://tokenist.com/wp-content/uploads/2023/05/PEPE_7D_graph_coinmarketcap-650x369.jpeg 650w, https://tokenist.com/wp-content/uploads/2023/05/PEPE_7D_graph_coinmarketcap.jpeg 1394w" sizes="(max-width: 731px) 100vw, 731px">
  <figcaption class="wp-element-caption">
   PEPE market cap chart in the past seven days. Source: CoinMarketCap
  </figcaption>
 </figure>
</center> 
<p>The latest market cap drop comes after PEPE lost almost 16% in the past 24 hours, with the cryptocurrency trading at $0.000001626 at press time. The price drop is likely due to investors taking profits and converting their PEPE holdings into Ether (ETH) which recently reached an all-time high in deposits to exchanges.</p> 
<p><a href="https://tokenist.com/the-latest-dog-coin-is-a-frog-pepes-marketcap-surges-to-447m/" rel="dofollow" class="deco-link">Pepecoin experienced</a> one of the most spectacular price jumps in the history of altcoins, soaring by a mouthwatering 5,000,000% over the past few weeks. PEPE’s price and market cap inked an all-time high on Friday, May 5 – the day the token was listed on Binance. In the six days from May 6 to May 11, PEPE’s price more than halved from its peak of $0.00000431.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="what-is-pepe">What is PEPE?</h3> 
<p>Launched in April 2023, PEPE is a meme coin inspired by the “<a aria-label="Pepe the Frog (opens in a new tab)" href="https://en.wikipedia.org/wiki/Pepe_the_Frog" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Pepe the Frog</a>” meme and the artist behind it, Matt Furie. Designed by an anonymous dev team, the meme coin attracted unprecedented attention in the past few weeks, reflected in its whopping price surge.</p> 
<p>Meme coins are a type of cryptocurrency that is based on internet memes and pop culture. They became popular in recent years due to their humorous and often irreverent nature and the potential for quick and significant returns on investment.</p> 
<p>Following its meteoric rise, PEPE is now the third-biggest meme coin in the world, behind Dogecoin (DOGE) and Shiba Inu (SHIB). DOGE’s and Shiba’s market caps are currently at $10.01 billion and $5.21 billion, respectively, significantly higher than PEPE’s $638 million. Another meme coin that has been attracting widespread attention lately is Floki (FLOKI), also listed on Binance last week alongside PEPE.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Do you think PEPE will breach its recent record highs? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/pepes-market-cap-down-1-billion-since-binance-listing/">PEPE’s Market Cap Down $1 Billion Since Binance Listing</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

PEPE’s Market Cap Down $1 Billion Since Binance Listing

Table of Contents

TokenInsight

Other articles published on May 11, 2023

iProcure expands into Tanzania, partners with Farm to Market Alliance to reach 125K+ farmers

Binance Liquidity Farming Introduces WBTC Rewards for WBTC/ETH and WBTC/BTC Liquidity Pools

Gbitcoins – Providing Top-Notch Cloud Mining Services

CZ Looking To Reduce Stake in Binance.US Due To Regulatory Scrutiny

Cryptopia CommunityCast: Fedeemar

ApeSwap Real Yield GNANA Staking Pools | Prop 27 Discussion Thread

Join our free newsletter for daily crypto updates!