Binance.US Lists Pepe Memecoin Amid Growing Competition

Binance.US Expands Memecoin Offerings with Addition of Pepe ($PEPE)

Following a surge in demand for memecoins, Binance.US has introduced $PEPE to its platform, further intensifying competition among US cryptocurrency exchanges.

Effective December 5, 11:00 AM UTC, $PEPE will be available for trading against $USDT, Tether's stablecoin, as per Binance.US's announcement on December 4.

"Since its inception, $PEPE has garnered substantial popularity due to strong social media and community support," stated Binance.US.

According to data from CoinGecko as of December 4, $PEPE's market capitalization stood close to $9 billion.

Rising Popularity of Memecoin Listings

US exchanges, including Binance.US and Coinbase, have been expanding their memecoin offerings, particularly following the crypto-friendly stance of President-elect Donald Trump.

"We're talking more about some of the smaller tokens, some of the memecoin tokens," remarked Tom Duff Gordon, Coinbase's Vice President of International Policy, in November, highlighting the growing trend.

In recent months, Coinbase has listed a range of memecoins, such as $MOODENG, $MOG, and $WIF. Binance.US also added $BONK, a dog-themed memecoin, in November.

Collectively, memecoins currently hold a market capitalization exceeding $130 billion, according to CoinGecko.

Mixed Views on Memecoins

The rise of memecoins has sparked debate within the cryptocurrency community. Supporters like Murad Mahmudov contend that they reduce speculative premiums in altcoins, while critics like Jimmy Song view them as risky and highly speculative.

The Origin of Pepe

Created in 2005 by Matt Furie, Pepe the Frog initially gained popularity as an internet meme and later became a symbol in the cryptocurrency space.

Pepe's depiction as a "peaceful frog-dude" shifted during the 2016 US election, as alt-right groups began using it. Despite this, the Anti-Defamation League has emphasized that "the majority of uses of Pepe the Frog have been, and continue to be, non-bigoted."