{"id":538638,"date":"2023-06-20T00:30:46","date_gmt":"2023-06-20T00:30:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=538638"},"modified":"2023-06-19T18:18:26","modified_gmt":"2023-06-19T18:18:26","slug":"pepe-down-78-from-may-peaks-but-holder-count-rising","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/pepe-down-78-from-may-peaks-but-holder-count-rising\/","title":{"rendered":"PEPE Down 78% From May Peaks But Holder Count Rising"},"content":{"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 <\/span>shows<\/span><\/a>.\u00a0\u00a0<\/span><\/p>\n

The meme token is based on Pepe the Frog meme, created by Matt Furie in 2005.\u00a0<\/span><\/p>\n

Falling Prices, Rising Token Holder Count<\/span><\/strong><\/h2>\n

The token gained substantial recognition as a meme coin and enjoyed exponential price growth a month after launching in late April 2023.\u00a0<\/span><\/p>\n

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<\/span><\/p>\n

Related Reading: Stablecoins Supply Finally Shows Rise, Here\u2019s Why This Is Bullish For Bitcoin<\/a><\/div>\n

As of June 19, PEPE is\u00a0<\/span>perched<\/span><\/a> at 89th position with a market cap of $364,936,703, according to CoinMarketCap. <\/span>PEPE is down 78% from May 2023 peaks, and prices remain fragile.\u00a0<\/span><\/p>\n

\"PEPE<\/a>
PEPE price on June 19| OKXUSDT on OKX, TradingView<\/a><\/figcaption><\/figure>\n

Despite falling prices, PEPE holders continue to maintain an upward trend. With over 119,000 holders, users appear keen on accumulating.<\/span><\/p>\n

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.<\/span><\/p>\n

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<\/span><\/p>\n

In the case of PEPE, token holders are mostly speculating because the coin has no utility but is deflationary. <\/span>An extract from their homepage<\/span>\u00a0reads<\/span><\/a>:\u00a0<\/span><\/p>\n

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.<\/span><\/p><\/blockquote>\n

PEPE is an ERC-20 token on Ethereum and can be bought on platforms like Binance, KuCoin, Uniswap, a decentralized exchange, and others.<\/span><\/p>\n

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.<\/span><\/p>\n

Binance To Delist PEPE From Flexible Loan Program<\/span><\/strong><\/h2>\n

Following increasing regulatory scrutiny, Binance\u00a0<\/span>announced<\/span><\/a>\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.<\/span><\/p>\n

Related Reading: Report: Do Kwon Refutes Passport Forgery Claims, Shifts Blame To \u2018Chinese\u2019 Agency<\/a><\/div>\n

Binance strongly encourages its users to settle any outstanding debts related to PEPE.\u00a0<\/span>Accounts 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<\/span><\/p>\n

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":"\nPEPE Down 78% From May Peaks But Holder Count Rising<\/title>\n<meta name=\"description\" content=\"While PEPE is down 78% from its May 2023 peaks, token holders continue to rise. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"PEPE Down 78% From May Peaks But Holder Count Rising","url":"http:\/\/uniquehot.com\/news\/pepe-down-78-from-may-peaks-but-holder-count-rising\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/pepe-down-78-from-may-peaks-but-holder-count-rising\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/Crypto-news-Template21.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/Crypto-news-Template21.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","pepe","pepeusdt"],"dateCreated":"2023-06-20T00:30:46Z","datePublished":"2023-06-20T00:30:46Z","dateModified":"2023-06-20T00:30:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"PEPE Down 78% From May Peaks But Holder Count Rising\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/pepe-down-78-from-may-peaks-but-holder-count-rising\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/pepe-down-78-from-may-peaks-but-holder-count-rising\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/Crypto-news-Template21.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/Crypto-news-Template21.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"pepe\",\"pepeusdt\"],\"dateCreated\":\"2023-06-20T00:30:46Z\",\"datePublished\":\"2023-06-20T00:30:46Z\",\"dateModified\":\"2023-06-20T00:30:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/Crypto-news-Template21.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/538638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=538638"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/538638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/538640"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=538638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=538638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=538638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}