Main navigation

Gemini Becomes Top Pepe Holder Shortly After Listing

Wed, 05/10/2023 - 20:06
article image
Alex Dovbnya
Gemini has appeared on the list of the top 50 holders of the popular digital asset
Gemini Becomes Top Pepe Holder Shortly After Listing
Cover image via
Read U.TODAY on
Google News

Gemini, the cryptocurrency exchange co-founded by Tyler and Cameron Winklevoss, has surged into the top 50 holders of the meme-based cryptocurrency Pepe (Pepe) less than 24 hours after listing it on their platform.

A tweet from Jason Cline, a cryptocurrency analyst, indicated that an estimated 748 billion Pepe tokens, valued at roughly $1.3 million, had been deposited into Gemini accounts.

The swift uptick in Pepe holdings on Gemini underscores the continuing appeal of meme-based digital currencies, a trend initially sparked by Dogecoin (DOGE) and Shiba Inu (SHIB).

Pepe, a token built on the Ethereum blockchain, was introduced to the cryptocurrency market in April. Capitalizing on the meme trend, Pepe takes its name from the controversial "Pepe the Frog" character.

Ripple-Backed Flare Launches API Portal on Google Cloud: Details
Cline also noted in a subsequent tweet that he believes Gemini's competitor, Coinbase, is "out of touch with reality," and suggested that the platform will struggle to catch up with Gemini and other exchanges in terms of listing Pepe. Cline posited that Robinhood, another popular trading platform, would likely list Pepe before Coinbase due to their need to capitalize on the meme coin's popularity.

This analysis comes amid the backdrop of large-scale sell-offs of Pepe on Binance, the world's largest crypto exchange, where large holders, or "whales," reportedly cashed in their holdings following the coin's listing.

Despite concerns about the volatile nature of meme-based cryptocurrencies, the market cap for Pepe has soared to over $1.6 billion, according to CoinGecko data. This sudden surge has drawn the attention of many speculators, but the token is already down 56% from its peak.  

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at