PEPE becomes first meme coin to officially enter Japan’s market

Pepe became the first meme coin to be officially listed on a Japanese cryptocurrency exchange.

BITPoint Japan, a centralized crypto exchange launched in 2016 and licensed by the country’s Financial Services Agency, listed Pepe (PEPE) today, according to a report by CoinDesk Japan.

BITPoint will offer spot trading, lending and savings services for the third-largest meme coin in terms of market cap, which is currently $4 billion and has a maximum supply of 420.69 tonnes of PEPE.

The Japanese stock exchange will also run two campaigns. First, 10 BITPoint users who purchase PEPE worth at least 10,000 yen will be eligible for the 100,000 yen draw. This campaign will end on November 27th.

Another could be a gift for X followers of the exchange.

PEPE’s bullish outlook

PEPE was released in April 2023 and is named after the 2000s internet meme “Pepe the Frog.” Meme coin is up over 34,000% from its launch price and is trading at $0.0000095 at the time of writing.

PEPE price and RSI | Source: crypto.news

At this point, PEPE is already listed on leading crypto exchanges such as Binance, Bybit, OKX and Upbit.

Usually, major exchange listings trigger short-term FOMO among investors, pushing the price upwards.

PEPE has been seeing an increase in volatility since reaching its all-time high of $0.000017 on May 27. However, the asset’s Relative Strength Index is currently at 53, indicating that PEPE is neither overbought nor oversold.

This leaves the meme coin in good shape for a potential price increase as the broader crypto market posts massive gains. Global crypto market cap has surpassed $2.5 trillion as Bitcoin (BTC) exchange-traded funds record consecutive inflows, according to a Crypto.news report.