Meme Coin Mania: Pepe (PEPE) Outperforms Dogecoin and Shiba Inu
Release: 2024/07/17 15:00 Reading: 951
Pepe (PEPE) Defies Market Downturn, Surges 24.83%
Amidst a recent market downturn, the cryptocurrency PEPE has exhibited resilience, experiencing a significant price increase today.
At the time of writing, PEPE was trading at $0.00001259, marking a 24-hour surge of 24.83%.
Factors Behind PEPE's Rise
This surge is partially attributed to the recent price spike in Ethereum following the preliminary approval of spot ETH ETFs. This has led to increased investor interest in PEPE, as evidenced by a 98% jump in its 24-hour trading volume to $2.18 billion.
Analysts' Predictions
Analysts predict further gains for PEPE if positive market sentiment persists. Historically, Pepe has been one of the most actively traded meme coins on the Ethereum blockchain. When spot Ethereum ETF applications were previously granted, Pepe's price rose by 56%. With ETF trading expected to resume on July 23rd, Pepe's upward trajectory may continue.
Source:
Coinmarketcap
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