As a seasoned crypto investor, I’ve seen my fair share of memecoins coming and going. However, the recent surge in PEPE has piqued my interest once again. With an 11% rise in the last 24 hours and a massive 1372% increase over the past year, PEPE is outshining most of its memecoin counterparts.
As a financial analyst, I’ve observed some intriguing movements in the cryptocurrency market recently. Among the meme coins, Pepe (PEPE), the frog-themed currency, has stood out with a noteworthy 11% price increase over the past 24 hours.
As I pen down these words, PEPE is currently exchanging hands at a price of $0.0000129, with an impressive trading volume of $1.27 billion recorded over the past day. The memecoin has experienced remarkable growth in recent times, soaring by an astounding 50% within the last week alone. Moreover, its value has increased dramatically by a staggering 1372% when compared to the same period last year.
As an analyst, I’ve observed that the market capitalization of this cryptocurrency has experienced a notable growth of 9%, now standing at a value of $5.43 billion. Nevertheless, it’s essential to acknowledge that the token is currently 23% below its all-time high, which was reached on May 28, 2024, at a price point of $0.0000167.
PEPE’s price had been mirroring the general trend of the cryptocurrency market over the past week, resulting in a 11% decrease for this token, according to CoinMarketCap’s data.
A major price shift occurred in PEPE following a large purchase by a notable investor, fueling anticipation of an uptrend. According to a June 11 post on the platform Scopescan, this whale withdrew approximately 256 billion PEPE tokens, valued at around $2.9 million, from Bybit.
In early May, a whale transferred approximately 200 billion PEPE tokens, equivalent to around $2.8 million, to an exchange platform following a price surge.
As a crypto investor, I’ve noticed an intriguing development with the memecoin PEPE. Recently, a large investor, often referred to as a whale, made a significant withdrawal of over 291 billion coins from an exchange. This move is noteworthy because the whale now holds a substantial amount of PEPE, valued at approximately $3.5 million.
Previously, when bitcoin displayed signs of vulnerability, pepe-dollars subtly gained ground against the trend before making a dramatic surge upward.
— DEFI OMEGA (@DefiOmega) June 11, 2024
An alternative explanation for PEPE‘s recent price increase could be the rumored addition of the asset to major cryptocurrency platform Coinbase. Previously, Coinbase’s introduction of a perpetual futures market for PEPE on April 18 resulted in a significant price rise.
Major meme players
As a dedicated researcher, I’ve closely monitored the memecoin market, and my findings reveal that Pepe continues to lead in trading volume. This trend outstrips other notable memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and Dogewifhats (WIF).
Among the notable meme platforms, merely WIF, Bonk (BONK), and Book of Meme (BOME) experienced growth within the past 24 hours.
- WIF was up a modest 1%.
BOME managed an even lower 0.60%.
BONK performed much better, rising 8.5% to exchange hands at $0.000028 at the time of writing.
As a researcher studying the cryptocurrency market, I’ve observed that it continues to experience a setback with a 0.67% decline, resulting in a total market capitalization of approximately $2.45 trillion.
Bitcoin, the most valuable cryptocurrency globally with a market capitalization to show for it, has experienced a 0.65% decrease over the past day, and its current market price stands at $67,338.
Read More
- BODEN PREDICTION. BODEN cryptocurrency
- GHST PREDICTION. GHST cryptocurrency
- BETA PREDICTION. BETA cryptocurrency
- STRD PREDICTION. STRD cryptocurrency
- Mango Markets Exploiter Found Guilty Of Fraud And Manipulation
- GBP EUR PREDICTION
- MATIC PREDICTION. MATIC cryptocurrency
- LOOKS PREDICTION. LOOKS cryptocurrency
- BRN/USD
- TNSR PREDICTION. TNSR cryptocurrency
2024-06-12 11:26