Investors Cash Out, Pepe Coin Price Drops 6%
Cryptocurrency exchange Gemini is promoting Pepe token, an Ethereum-based meme cryptocurrency, despite the fact that it has dropped 6% in value over the past week. Pepe coin has gained popularity for its association with online meme Pepe the Frog, and although it hasn’t managed to overtake meme coin Dogecoin, it attracted over 107,000 holders in just over 20 days, reaching a market cap of $1bn at its peak, according to crypto research firm Messari. Gemini is now giving away 6 billion PEPE tokens to 100 of its users. Pepe is listed on several major exchanges including Binance, Kucoin, and Crypto.com. Meanwhile, Dogecoin has introduced a new standard – DRC-20 – that will allow developers to create more meme coins on the Dogecoin blockchain. Dogecoin is up 2% in value over the past week.