cryptojournalist
PEPE Joins the Party
Binance.US is stepping into the memecoin craze by listing PEPE, a popular token backed by a strong online community and social media buzz. Trading against Tether (USDT) starts Dec. 5 at 6 a.m. Eastern. As of Dec. 4, PEPE’s market value has skyrocketed to nearly $9 billion, according to CoinGecko.
Memecoins Are Everywhere
Memecoins are becoming a big deal for crypto exchanges. With President-elect Donald Trump’s pro-crypto stance, companies like Coinbase are expanding their token offerings. Tom Duff Gordon from Coinbase said they’re focusing on smaller tokens, including memecoins, that they couldn’t list before.
In December, Coinbase added memecoins like Moodeng (MOODENG), Mog (MOG), and Dogwifhat (WIF), while Binance.US listed Bonk (BONK) in November. Together, memecoins now make up a staggering $130 billion in market value, according to CoinGecko.
Are Memecoins a Hit or Miss?
The crypto world is split on memecoins. Fans like Murad Mahmudov believe they give crypto a real use case by cutting out speculation on other altcoins. Critics like Jimmy Song call them a gamble, accusing memecoins of being driven purely by hype.
Where Did PEPE Come From?
PEPE started as a cartoon frog in 2005, created by artist Matt Furie for his comic series Boy’s Club. The character became a beloved internet meme, especially in the crypto community. Furie’s other creations, like Brett (BRETT) and Landwolf (WOLF), have also inspired memecoins.
PEPE hasn’t been controversy-free. During the 2016 U.S. election, alt-right groups used the character, which Furie condemned. In 2019, he sued Alex Jones and Infowars for using PEPE without permission. Despite this, watchdogs like the Anti-Defamation League say most PEPE uses are harmless.
