Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"
While PEPE is down 78% from its May 2023 peaks, token holders continue to rise. As of June 19, there are now 119,229 unique addresses holding the token, an increase from early June, Etherscan data shows.\u00a0\u00a0 The meme token is based on Pepe the Frog meme, created by Matt Furie in 2005.\u00a0 Falling Prices, Rising Token Holder Count The token gained substantial recognition as a meme coin and enjoyed exponential price growth a month after launching in late April 2023.\u00a0 With surging prices and the meme coin culture providing tailwinds, the token soon rose higher in the market cap ranking, securing a position in the top 100.\u00a0 Related Reading: Stablecoins Supply Finally Shows Rise, Here\u2019s Why This Is Bullish For Bitcoin As of June 19, PEPE is\u00a0perched at 89th position with a market cap of $364,936,703, according to CoinMarketCap. PEPE is down 78% from May 2023 peaks, and prices remain fragile.\u00a0 Despite falling prices, PEPE holders continue to maintain an upward trend. With over 119,000 holders, users appear keen on accumulating. In crypto circles, token holder count can be used to measure interest and adoption. Projects with a higher token holder count can be used to indicate strong community support, which can translate to success. It can also indicate the level of utility and adoption. Tokens like USDT, a stablecoin, have high token holder counts considering their role in decentralized finance (DeFi), remittance, and more.\u00a0 In the case of PEPE, token holders are mostly speculating because the coin has no utility but is deflationary. An extract from their homepage\u00a0reads:\u00a0 PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only. PEPE is an ERC-20 token on Ethereum and can be bought on platforms like Binance, KuCoin, Uniswap, a decentralized exchange, and others. At the same time, the token\u2019s derivatives have been listed on several cryptocurrency exchanges, including Binance, which began supporting the token on its Innovation Zone while listing PEPE\u2019s perpetual futures in early May 2023. Binance To Delist PEPE From Flexible Loan Program Following increasing regulatory scrutiny, Binance\u00a0announced\u00a0plans to delist PEPE as a borrowable asset from their Flexible Loan program. The delisting would take effect on June 21 and also coincide with the cancellation of any open PEPE loan holdings. Related Reading: Report: Do Kwon Refutes Passport Forgery Claims, Shifts Blame To \u2018Chinese\u2019 Agency Binance strongly encourages its users to settle any outstanding debts related to PEPE.\u00a0Accounts that face liquidation will incur a 2% charge, where applicable. The exchange has assured borrowers that it will accept repayment in the same currency.\u00a0 Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":538640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,88145,88188],"class_list":["post-538638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-pepe","tag-pepeusdt"],"acf":[],"yoast_head":"\n
PEPE Down 78% From May Peaks But Holder Count Rising<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n