Meme coins have experienced unprecedented growth in interest and value. Backed by a strong community, memecoins are primarily associated with meme images, cartoon characters and animals. Dogecoin, SHIBA INU, and most recently Pepecoin ($PEPE) are some of the best-selling meme coins in the cryptocurrency space. These coins have gained thousands of price surges in the shortest possible time. Provide investors with ample opportunities to earn substantial profits with small investments.
Popular meme coin $PEPE hits astonishing $PEPE less than a month after launch Market Cap $1.5 Billion. and Spot Volume over $2.7 billion. According to various reports, this value is comparable to Bitcoin spot transactions on top cryptocurrency exchanges during the same time period. Proving the ability of these coins to generate huge returns for investors.
$PEPE was launched with an initial price of just $0.000000001 and a total token supply of over 420 trillion. The price of memecoin has soared more than 3,000% since its listing on top exchanges. Even though it has suffered numerous sell-offs from early investors looking for huge profits, Pepecoin is still ranked as one of the top 100 coins (78th) by market capitalization, coin market cap. Again, fully justified its spontaneous price leaps in the shortest possible time.
The role of exchanges and how early listings affect investor returns
Cryptocurrency exchanges seamlessly buy bitcoin, altcoins, memecoins, and more. They are committed to providing customers with the hottest coins in the market, allowing them to become early investors. Now, why cryptocurrency exchanges are a core part of the industry, and clearly their influence on the market continues to grow every day, partly because of memecoins. how?
These cryptocurrency exchanges understand the impact of memecoins on the market and investors. So they’re always on the lookout for the next big thing.
To better understand the impact of early listings and how these exchanges can positively affect investor returns, we will use $PEPE and LBank as examples, among other exchanges.
pass LBank article section, the global cryptocurrency exchange announced its decision to list the newly launched meme coin $PEPE on its platform. According to the aforementioned sources, the listing is scheduled for April 18, 2023 at 8 AM (UTC). LBank claims that the meme coin is a viable, high-quality coin for its users. 12 days later, the OKX exchange Announcing the decision to list $PEPE. result? Prices soared 850%. The investment growth of LBank users is as high as 850%. Bitget exchange also listed $PEPE on the same day as LBank and since then (until the time of writing) investors have returned over 5346%. Substantial evidence of the effect of early listing on investment.
In addition to $PEPE, the listing of emerging meme coins like $PSYOP, $GEN, $SPONGE, $AIDOGE, $BEN, and $RFD further shows the role of exchanges in the price surge. According to available market data, LBank, MEXC, and HUOBI are at the forefront of early token listings. For the aforementioned emerging memecoins, LBank was the first to list 5 of 6 tokens — $BEN, $PSYOP, $RFD, $GEN, and $SPONGE. MEXC exchange listed $AIDOGE first, followed by HUOBI. Consistent with this data, LBank also recorded the highest returns for these meme coins, with the exception of $AIDOGE and $BEN, where MEXC recorded the highest returns.
- $PEPE; 6387%
- $ Ai Duoji; 19364%
- $book; 313%
- $ psychological warfare; 433%
- $RFD; 216%
- $sponge; 296%
- $root; 716%
- $PEPE; 2259%
- $ Ai Duoji; 70429%
- $book; 353%
- $Psych; 0%
- $RFD; 138%
- $sponge; 0%
- $root; nothing
HUOBI and Gate.io’s $PEPE recorded impressive gains of 2710% and 2324%, respectively. However, users of LBank and Bitget lost more than 2300% of their investment value the day after their listing.
How Meme Coins Are Driving Unconventional Innovation
While these cryptocurrency exchanges compete with themselves by constantly finding potentially hot coins, one thing stands out — their willingness to openly embrace unconventional projects. By actively seeking out new projects to list, cryptocurrency exchanges demonstrate their commitment to supporting special projects. Although meme coins are largely based on famous memes, animals or characters, they have become an avenue of experimentation in the web3 space.
Meme coins continue to push the boundaries of traditional investing and appeal to different audiences. A community of vibrant individuals committed to contributing to the development of the project. By eagerly searching for the next big meme token, the exchange encourages developers to continue experimenting and launching unique projects. Also, the rise of these meme coins is a testament to the influence of the internet and meme culture.
Memes have become an essential part of the internet and social media experience. By listing meme-based tokens, the exchange is capitalizing on a potentially saturated environment with millions of global supporters waiting to join. Speaking about these memecoins and how they open the door for mass adoption, Johnasson Chen, co-founder of LBank, reiterated that the pursuit of memecoins can help enhance the resilience and diversity of the emerging web3 ecosystem.
“Maintaining a leading position in the meme market is critical to providing our users with a first-class investment as early as possible. The pursuit of meme coins also contributes to the overall diversity and resilience of the Web3 ecosystem.Inclusion of such coins alongside more established cryptocurrencies fosters a healthy balance between established projects and innovative newcomers, enabling a continual cycle of disruption and growth,” said the co-founder.
Disclaimer: This article is for informational purposes only. It does not provide or be intended to be used as legal, tax, investment, financial or other advice.