Pepe Coin (PEPE) Surges Over 30% in a Week
If you’ve been following the crypto scene, you may have noticed the resurgence of Pepe Coin (PEPE). In the past seven days alone, its price has skyrocketed by almost 32%, with a 10% surge in the last 24 hours, according to CoinGecko.
Possible Reasons for PEPE’s Surge
There are a few factors that could explain PEPE’s positive performance. Firstly, the overall revival of the cryptocurrency sector may have contributed. The global crypto market cap has been increasing by approximately 3% daily, with many digital currencies experiencing significant gains.
Furthermore, whales seem to be actively involved in PEPE. Recently created wallets spent over $800,000 to purchase 1.08 trillion PEPE coins. Additionally, an investor who previously made more than $2.30 million from trading with the asset bought $645,000 worth of PEPE. This same investor also spent 550 ETH ($951K) to acquire 1.04 trillion PEPE on August 29.
The Rise of Memecoins
It’s important to note that PEPE is not the only memecoin experiencing a surge. ApeCoin, affiliated with the Bored Ape Yacht Club, has seen a daily increase of over 10% and a weekly gain of 12.5%.
Curious About Memecoins?
If you’re interested in learning more about different memecoins, their specifics, and purposes, you can watch our video:
Hot Take: PEPE Coin Rides the Meme Coin Wave
Pepe Coin (PEPE) has emerged as a strong player in the crypto market, with its price surging by over 30% in just one week. This surge can be attributed to various factors such as the overall revival of the cryptocurrency sector and the active involvement of whales. Additionally, other memecoins like ApeCoin are also experiencing significant growth. As memecoins continue to gain popularity, it’s important to stay informed and understand their specifics and purposes. With the crypto market constantly evolving, it will be interesting to see how PEPE and other memecoins perform in the future.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.