PEPE Explodes 140% Today – What’s Up With This Frog-Themed Meme Coin?
February 28 2024 - 12:00AM
NEWSBTC
Pepe Coin, the meme-inspired cryptocurrency, just doesn’t run out
of surprises, skyrocketing by nearly 140% in the weekly timescale.
This remarkable comeback has not only caught the attention of
cryptocurrency enthusiasts but has also ignited renewed interest in
meme coins as a whole. Pepe Coin, once languishing in the shadows,
has now emerged as a frontrunner in the meme coin space. Its market
capitalization has soared to an impressive $1.1 billion, and
analysts predict that it could potentially reach its all-time high
market cap of $1.8 billion, necessitating a tenfold price
appreciation from its current levels. Pepe Coin: Speculation And
Social Media Frenzy Fuel Resurgence The crypto’s resurgence is not
solely a result of market dynamics but is also driven by key
factors within the meme coin ecosystem. Speculation and trading
activity have played a significant role, fueled by the growing
interest in Ethereum-based meme coins. Pepe Coin, with its
distinctive frog-themed branding, has captured the imagination of
investors and meme enthusiasts alike. Related Reading: Bull Run
Returns? Bitcoin Breaks Through $57,000 Barrier Social media
platforms, particularly Twitter, have become a breeding ground for
discussions surrounding Pepe Coin. The cryptocurrency has trended
with over 53,000 posts dedicated to its vibrant community and its
potential as a promising investment opportunity. The widespread
traction on social media has further boosted Pepe Coin’s popularity
and contributed to its surging value. Total crypto market cap
slightly above $2 trillion today. Chart: TradingView.com PEPE
Whales, High-Volume Transactions Boost Profits Notable events
within the PEPE ecosystem have also contributed to its recent
success. Six influential wallets executed trades, resulting in the
offloading of nearly 2 trillion PEPE tokens. This high-volume
transaction amounted to approximately $4.37 million in sales,
generating substantial profits of around $2 million. Such
significant market activity underscores the growing momentum
surrounding the meme coin during this surge. As Pepe Coin’s value
continues to climb, it finds itself in the midst of a broader
bullish sentiment in the cryptocurrency market. Bitcoin has reached
an impressive price point of $57,000, while Ethereum trades above
$3,200. This positive market sentiment provides a favorable
backdrop for Pepe Coin and other digital assets, signaling a
potentially lucrative period for investors. PEPE seven-day price
ascent. Source: CoinMarketCap Pepe Coin, a green-colored
frog-themed meme coin, was launched in May 2023 and quickly gained
popularity among cryptocurrency enthusiasts. With its total supply
of 420.69 trillion PEPE tokens, all of which are already in
circulation, Pepe Coin stands out as a unique and intriguing player
in the meme coin market. Related Reading: Who’s Behind The Latest
$41 Million Ethereum Buying Spree? Justin Sun Again? PEPE’s recent
surge of over 140% and its ascent to a market cap of over $1
billion showcases the growing influence of meme coins in the
cryptocurrency landscape. Featured image Pexels, chart from
TradingView
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