PEPE has officially entered the Japanese crypto market, becoming the first memecoin listed on BITPoint, a Tokyo-based cryptocurrency exchange.
BITPoint announced on October 30 that it would offer PEPE for spot trading, lending, and fixed investment savings, making it the first Japanese exchange to list a memecoin. This development marks a milestone for the memecoin market in Japan.
BITPoint launches campaigns to boost PEPE adoption
To encourage interest in PEPE, BITPoint has initiated two promotional campaigns. The first campaign offers a random giveaway: Ten lucky users who purchase PEPE worth at least 10,000 yen will receive an additional 100,000 yen in PEPE coins. The second campaign targets the platform’s followers on its X (formerly Twitter) account, with participation open until November 27. Through these promotions, BITPoint aims to attract investors and bolster trading activity for PEPE on its platform.
PEPE’s current market position
PEPE is a memecoin inspired by the internet-famous character Pepe the Frog, a green anthropomorphic frog with a strong online following. According to data from CoinMarketCap, PEPE is currently trading at $0.000009521, with a 24-hour trading volume of approximately $700 million. Although the coin’s price has remained relatively stable over the past 24 hours, it has seen a 5% decline in value over the last seven days. PEPE ranks 24th on CoinMarketCap’s list of top cryptocurrencies by market capitalization, positioning it as one of the most prominent memecoins globally.
Growing Memecoin activity across Blockchain networks
The memecoin market has seen notable growth since Dogecoin launched in 2013, with platforms like Solana benefiting from increased activity. On Solana, much of this activity is concentrated within the DeFi sector, leading to record-high on-chain transactions. According to Token Terminal, Solana’s daily network revenue from fees reached $4.8 million on October 24 before declining to $2.5 million on October 27. On October 29, the daily fees were recorded at $3.8 million.
Source: TokenTerminal
Other networks, such as TON and Tron, have also witnessed surges in memecoin activity. TON experienced outages due to traffic from DOGS token minting. At the same time, Tron’s SunPump launchpad raised over $1 million in revenue and has facilitated the creation of more than 91,000 tokens based on data from Dune Analytics.
As the memecoin market expands, large exchanges like Binance have added popular tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE to their listings. Dogecoin remains the largest memecoin by market cap at $25.45 billion, followed by Shiba Inu at $11.06 billion, with PEPE in third place at $4 billion.