Pepe Coin Price Explodes After New Binance Listing - Are AiDoge.com and $SPONGE Next?
New York, NY
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May 07, 2023 05:25 PM Eastern Daylight Time
The new trending meme coin Pepe has doubled in price following the recent Binance announcement that it will be listed on the Binance platform.
Yesterday, Binance announced that they will list Pepe and Floki in their “innovation zone”, enabling users to deposit their coins to the platform, with spot trading commencing 6 May 2023 at 16:00 (UTC).
The popular exchange will also enable isolated margin trading on the coins, which could massively impact trading volume.
Since the Binance announcement, activity on the Ethereum chain has exploded, with gas fees on the network climbing as high as 322 GWEI.
This activity has been due to speculators buying and selling the Pepe token, causing its price to surge 126% today.
Pepe currently sits at a $1.48 billion market cap and is ranked 39 by market cap across all cryptocurrencies. Many in the crypto community have set their sights on the meme coin flippening, which could see Pepe flip Dogecoin, which sits at a $10.9 billion market cap.
According to LunarCrush, following the Binance listing announcement, Pepe has become the top coin by social mentions, with 17,940 mentions today, recently overtaking Bitcoin.
The Pepe coin has also amassed an all-time high in trading volume today of $1,525,254,244. Besides stablecoins, this puts Pepe behind only Bitcoin, Ethereum and BNB for daily volume. $SPONGE and AiDoge are two other meme coins that are also quickly gathering pace.
What is Pepe Coin?
Launched in mid-May, the Pepe coin was created by an anonymous dev team and features the Pepe the Frog cartoon as its logo.
The coin does not provide any utility, so its infamous rise has caused a lot of confusion about why it has exploded so quickly.
Pepe was a “stealth” launch which immediately rose to prominence, gaining 1000% in its first two days. However, the coin did not stop there; by May 1 2023, Pepe had hit a price of $0.000001377, equating to a 2200% return from its April 17 price of $0.0000000578.
Today, the Pepe coin sits at a price of $0.000003794, a 6464% increase from its April 17 price.
One of the polarising things about the Pepe coin is that it seemingly has no plans to provide value to holders. Based on the Pepe coin’s roadmap, there are three stages: meme, vibe and HODL, and meme takeover.
It is unclear what precisely these stages could entail, but the community has shown massive confidence in the new project so far.
Could $SPONGE be the Next Pepe After 1800% Surge?
Despite Pepe’s Binance listing, the brand new meme coin, Spongebob coin ($SPONGE), has outpaced Pepe, gaining over 1800% in the past four days.
Gains of this magnitude are relatively rare, even in the crypto industry. This has caused a frenzy of new attention to Spongebob, despite launching just yesterday.
The shocking price increase of $SPONGE over the last 24 hours makes it the second-highest gainer across the entire crypto market, according to CoinMarketCap.
The $SPONGE pump has put the market cap at $55 million less than four daysafter its launch. Moreover, its 24-hour trading volume is $31 million, marking a tremendous achievement for a brand-new coin.
Spongebob is an ERC-20 token currently only available to trade only on Uniswap. Similarly to Pepe, Spongebob launched as a stealth launch, and its total supply is already circulating.
However, compared to Pepe, $SPONGE remains relatively unknown to the masses. Therefore, the coin could be surging as investors look to access a new Pepe competitor early.
Surprisingly, the Spongebob coin is yet to feature a roadmap on its website and has just 21 tweets on its Twitter account. Nonetheless, the account has jumped from 500 followers to over 2600 in the past six hours; another sign things are heating up for the coin.
Whether the Spongebob token can reach the heights of Pepe is yet to be seen, but becoming the second-highest gainer on CoinMarketCap within 48 hours shows the coin could have a bright future.
With huge price increases over the last 48 hours and whales investing over $100,000 as showin the Spongebob token Telegram group, it seems traders are backing this token as the next meme coin to explode.
AiDoge Meme Coin Also Primed to Surge After Raising $1.6m
AiDoge is another crypto benefiting from the recent meme coin surge, having raised 200K in the last 48 hours of its presale. Altogether the presale has raised $1.6 million and is currently in stage 3 of 20.
The presale launched on April 15 2023, and has gotten off to a successful start. Besides its total raise, the coin has fostered a massive online community, with over 27K Twitter followers and 683 Discord members.
While AiDoge is categorically a meme coin, one of the reasons its seen success so far is that it provides real utility through leveraging AI technology.
The AiDoge token ($Ai) powers the AiDoge.com platform which enables users to create memes with text-based prompts.
The platform offers a range of other features, including a meme-feed wall, voting on memes, staking and rewarding users who create the most popular memes.
The project capitalises on two trending narratives: meme coins and AI. Additionally, the coin has a roadmap which includes partnerships and platform developments, showing that the AiDoge team is aiming for long-term success.
The coin’s price will incrementally increase at the beginning of each round. 5% of the total presale tokens will be sold in each round, with 50% of all $Ai tokens available to purchase during the presale. The presale has a hard cap of $14,900,000.
The $Ai token will go live on exchanges in Q3 2023 with a launch price of $0.00003360. The launch price will equate to a 25.8% increase from its current price of $0.0000268.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
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