Does Binance Listed PEPE Too Quickly?: Investors Suffer in Huge Loss

The newly emerged memecoin Pepe (PEPE) has witnessed a continued downfall in recent days. There is a question rising among investors about whether the world’s largest crypto exchange, Binance, listed the new memecoin too quickly.

Pepe, the frog-themed memecoin, has shown a massive rise in trading price and gained huge popularity in the crypto market at the start of its launch. The memecoin impressed investors and the top crypto exchanges. Following the surge, several crypto exchanges listed the memecoin, including the top crypto exchanges like Binance.

Pepe Started Showing Bearish Intent

On May 5, the crypto exchange Binance listed the Pepe memecoin in their innovation zone. Binance’s listing boosted investors’ confidence, resulting in a massive surge in its trading price of around 91.41%. The token has been given stand-out performance in both the altcoin and memecoin sectors. Moreover, it emerged as a strong memecoin competitor in the crypto market.

However, the continued price surge stopped after the crypto exchange Coinbase’s controversial newsletter. The newsletter has become controversial in the crypto market. The memecoin supporter has been disappointed with the Coinbase newsletter.

Pepe’s hype on the crypto market has just lasted for a few days. After that, the memecoin showed a continued downward trend. This leads to investors facing a huge loss. The continued downfall raised the question of whether the top crypto exchange, Binance, has listed the memecoin too quickly.

At the time of writing, the trading price of the Pepe is around $0.000001254, with a decline of over 15.52% in the last 24 hours, according to CoinMarketCap.

Source