The frog-themed meme coin, the $PEPE coin, continued to gain ground early in the Asian market on Friday, gaining as much as 19.76% in the past 24 hours to trade around 0 $.0000002692.
The Ethereum-based meme coin, which aims to capitalize on the success of Dogecoin and Shiba Inu, saw its market capitalization surpass $100 million in the first few days of its launch.
According to the latest market data from Coingecko and Binance-backed Coinmarketcap, the PEPE meme coin had a market capitalization of approximately $112,705,697 and a 24-hour trading volume of approximately $35,710,327.
$PEPE coin catches the eye of Binance
Currently, $PEPE is listed and traded on Deepcoin, CoinW, Bitget, BTCEX, and BingX. However, they are small centralized exchanges in daily volume traded compared to Binance, Coinbase, and MEXC Global.
As a result, the team behind the PEPE coin would very much like to attract the attention of major exchanges to attract whale traders.
In a stunning move, Binance has added a guide on how to buy PEPE through its Web3 products.
Notably, Binance informed its users that they can access the PEPE coin through its Trust wallet by buying Ether and trading it through DEXs like 1 inch.
Often these moves are preceded by a listing on the centralized exchange if DEX trading volume holds up for a set period of time. Moreover, more traders means increased liquidity even for the derivatives and futures market.
The meme coin started off on a high note, giving initial investors high returns. However, the meme coin was poised to diminish returns as the hype around it fades over time.
Currently, the meme coin has consolidated around the same level last week. If the bulls keep their momentum against the liquidation of early holders for some profit, the meme coin could break out for more gains in the coming weeks.