PEPE shoots 120% to a new record due to OKX listing

The hype about memecoins is sometimes difficult to understand for serious investors, but it is hitting again in the crypto world. This time it’s not a dog coin, but Pepe (PEPE), which rose more than 120 percent against the US dollar in the past 24 hours to a new high of $0.00000138.

This increase is partly due to the decision of the major OKX to list the memecoin on its trading platform.

500 million dollars

Thanks to the increases of the past 24 hours, the project now has a market capitalization of approximately $ 500 million. With that, it is slowly creeping close to projects such as Dogecoin and Shiba Inu, which have market capitalizations of several billion. In that respect, PEPE still has to climb a bit to reach the real top.

At the time of writing, the coin is ranked 84 on CoinMarketCap. However, there are some doubts about the fairness of the coin’s smart contract, which is why CoinMarketCap doesn’t appear to be updating it on the website yet. The project is still at position 2612 on their website.

CoinMarketCap itself indicates that the owner of the smart contract according to Goplus Labs may have the authority to adjust the transaction tax and have a blacklist feature. That could potentially put investors at risk. CoinMarketCap therefore warns against the project.

Millions sloshing around

The recent gigantic price explosion of PEPE ensures that certain investors can now call themselves millionaires.

According to David Gokhshtein, the rise of PEPE is a good development for bitcoin. He thinks this, because the hype surrounding coins such as PEPE ensures that new fortune seekers are coming to the industry again.

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Thanks to this coin, people read in the news that people have become millionaires with minimal investments and get jealous. That jealousy – coupled with greed – then draws these people to the exchanges to buy bitcoin, Gokhshtein’s theory goes.

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