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On October 30, Japan’s BitPoint exchange made history by listing PEPE coin, inspired by the “PEPE the Frog” internet meme. Established in 2023, PEPE coin is now accessible for spot trading, lending, and fixed investments on BitPoint. As of October 30, 2024, PEPE ranks 24th in market capitalization according to CoinMarketCap data.
BitPoint Celebrates PEPE Listing
To commemorate the first listing of PEPE in Japan, BitPoint launched two new campaigns. In the first campaign, 10 users who purchase over 10,000 Japanese yen worth of PEPE will receive PEPE coins valued at 100,000 Japanese yen. This promotional campaign will run until November 27, 2024, at 15:59.
The second campaign will take place via BitPoint’s official X (formerly Twitter) account, offering participants a chance to win PEPE coins.
With the listing of PEPE coin, BitPoint Japan provides an opportunity for crypto investors in the country to utilize memecoins as an investment tool. The exchange aims to attract new investors and meet the growing demand for memecoins in the market.
PEPE’s Deflation Mechanism Impresses
One of PEPE coin’s noteworthy features is the automatic burning of a specific amount of coins with each transaction, effectively removing them from circulation. This deflation mechanism gradually decreases coin supply while maintaining market equilibrium.
Consequently, PEPE coin is garnering interest as a memecoin that is expected to attract more demand due to its limited supply. Reducing circulation is seen as a strategic step for maintaining the coin’s value in response to supply and demand dynamics. Current data shows PEPE trading at $0.000009501, reflecting a 0.53% increase in the last 24 hours.
