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Meme Token PEPE Debuts on Bitfinex

source-logo  u.today 25 May 2023 09:52, UTC

Bitfinex, one of the leading crypto exchanges, has added meme-inspired cryptocurrency Pepe (PEPE) to its portfolio of tradable assets.

Launched just over a month ago, PEPE is a token that pays homage to iconic internet meme Pepe the Frog.

The announcement by Bitfinex late last night signifies a crucial step for PEPE, nudging it toward mainstream adoption.

Created in April 2023, PEPE quickly rose to prominence, with its market cap touching $1.8 billion at one point. Its creators aspire to compete with Dogecoin (DOGE) and Shiba Inu (SHIB), the two most popular meme coins.

The meme coin has carved a niche within the highly competitive cryptocurrency market, primarily fueled by its inventive approach and the widespread appeal of meme culture. Bitfinex's announcement to list PEPE comes on the heels of the token's rapidly increasing popularity.

As reported by U.Today, Bitfinex initially announced that it would start accepting PEPE deposits on May 22. The trading commenced two days later.

The platform has also unveiled a fee discount program to entice traders, offering zero fees for market makers and an appealing low rate of four basis points for market takers.

The development underscores Bitfinex's strategic move to tap into the meme coin trend while also showing the rising legitimacy of meme tokens in the broader crypto trading landscape.