PEPE has become the first memecoin in Japan after local crypto exchange BITPoint became the first exchange in the country to list the memecoin. The memecoin is available on BITPoint for spot trading, saving, and lending as part of the exchange’s offerings to Japan customers.
PEPE memecoin has unlocked a new market in Japan by becoming the first memecoin to be listed on Japanese crypto exchanges. BITPoint, a Tokyo-based crypto exchange, listed the digital asset on October 30th in various derivatives such as spot trading, lending, and fixed investment savings on the exchange.
BITPoint initiates giveaway campaigns for PEPE investors
The exchange set up two campaigns to make the listing more appealing to investors. The first campaign involves a random giveaway of PEPE coins worth 100,000 yen to ten investors who purchase PEPE worth 10,000 yen or more. The second campaign will include a program for followers of BITPoint X account held until November 27th.
PEPE is a memecoin inspired by Pepe the Frog, a comic character and internet sensation designed as a green anthropomorphic frog with human-like features. According to CoinMarketCap, the memecoin is trading at $0.000009521 with a 24-hour trading volume of $700 million.
The memecoin’s price has largely remained unchanged in the last 24 hours but has dipped by 5% in the last seven days. PEPE ranks 24th on CoinMarketCap’s list of top cryptocurrencies by market capitalization.
The memecoin ecosystem continues to grow
The broader memecoin ecosystem has grown significantly since the world’s first memecoin launched in December 2013. The memecoin frenzy has benefited network platforms such as Solana. Most memecoin activity on the Solana blockchain has occurred around Solana’s DeFi protocols.
Solana’s memecoin frenzy drove the network’s on-chain activity to a record high, with daily network revenues surpassing $4 million. Data from Token Terminal shows that Solana’s daily network revenue from fees hit a high of $4.8 million on October 24th before declining to $2.5 million on October 27th. As of October 29th, the fees recorded totaled $3.8 million.
Other blockchains, such as TON (The Open Network), have also experienced the memecoin mania. The TON blockchain experienced two disruptions and outages due to heavy traffic from memecoin hype around DOGS token minting.
Tron’s memecoin launchpad SunPump also witnessed a surge in activity in August this year. The smart contracting platform raised more than $1 million in revenue, outperforming other blockchains like Ethereum and Solana. Data from Dune Analytics shows that SunPump has witnessed over 91,000 total token creations so far.
Binance, the world’s largest crypto exchange by trading volume, has listed popular memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Dogwifhat (WIF). While more memecoins continue to launch, Dogecoin remains the largest memecoin with a market cap of $25.45 billion. Shiba Inu follows Dogecoin with a market cap of $11.06 billion, while Pepe trails in third position with a market cap of $4 billion.
