U.Today - Former CEO of BitMEX welcomed the addition of PEPE Coin futures on the exchange in a recent tweet. Starting from May 3, 2023, BitMEX traders will have access to two new listings, PEPEUSD and PEPEUSDT, which will enable them to long or short PEPE.
is a meme token inspired by the famous Pepe the Frog character that has gained immense popularity in recent times. In all stages of the market, there is a period like the current cycle, where absurdity happens — where, oddly enough, there is quite a bit of money and no correlation with fundamentals and deep technical parameters in the projects that are coming out. This all applies to .
The coin's hype was born of unprecedented stories of some investors making millions of dollars out of literally a couple hundred. Whether they were insiders or really lucky, however, has never been clarified.
The appearance of PEPE launched a new season of meme tokens, which was immediately picked up by major exchanges, which saw in it a chance to increase the user base and take a relatively larger market share.
The listing of margin contracts on BitMEX with a significant leverage ratio could mark the end of the "up only" trend for token. The increased volatility and high leverage ratio could turn the token trading into a "hot potato" game, where whoever holds the token last becomes the exit liquidity.