OpenSea Pro (formerly Gem v2), a leading NFT marketplace, announced on May 10th that users can now purchase NFTs using the meme cryptocurrency PEPE. However, this development failed to reverse PEPE’s downward price trend, which has declined by 54% from its all-time high.
PEPE Integration Fails to Boost Market Performance
Below is a simplified breakdown of the current situation:
| Metric | Detail |
|---|---|
| PEPE Payment Feature | Live on OpenSea Pro since May 10 |
| Binance Listing Date | May 6 |
| Price Drop Since ATH | 54% |
| Post-Announcement Gain | 5% |
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Despite becoming a payment option on OpenSea Pro, PEPE continues to struggle:
– 44.7% drop since Binance listing
– Minimal 5% price increase after OpenSea Pro announcement
– Ongoing volatility in meme coin sector
Why PEPE’s Utility Expansion Isn’t Moving Markets
Three key factors explain this disconnect:
1. Market saturation: Over 20 new meme coins launched in May alone
2. Investor caution: Recent 70% drops in WOJAK and AIDOGE
3. NFT market cooling: Reduced trading volumes across major platforms
“The integration of payment methods doesn’t necessarily translate to immediate price appreciation,” notes crypto analyst Jamie Waters. “Utility needs sustained demand to affect valuation.”
Frequently Asked Questions
Can I use PEPE for all OpenSea Pro purchases?
Yes, PEPE functions as a full payment option, either as sole currency or combined with other tokens.
Why isn’t the OpenSea Pro news boosting PEPE’s price?
Market sentiment remains bearish for meme coins, and single platform integrations rarely reverse established trends.
How does PEPE compare to other payment options?
Transaction speeds are comparable to ETH, but gas fees may vary during network congestion.
Is this a good time to invest in PEPE?
Cryptocurrencies carry high risk. PEPE’s 54% drop from ATH suggests significant volatility.
What other platforms accept PEPE?
Currently, OpenSea Pro is the only major NFT marketplace with PEPE payments.
👉 Explore emerging crypto payment solutions
Market Outlook and Risk Considerations
The meme coin sector shows warning signs:
– Average 65% decline across top 10 meme coins
– Reduced trading volumes on DEX platforms
– Shifting investor focus to utility tokens
Important Risk Disclosure:
Cryptocurrency investments involve high risk, including potential total loss of capital. Price fluctuations can be extreme and unpredictable. Always conduct thorough research and consult financial advisors before investing.
While OpenSea Pro’s PEPE integration demonstrates growing altcoin utility, market dynamics suggest traders remain cautious about meme coin investments amid broader sector declines.