Pepe Coin Surges to New Heights, Joining Bitcoin and Ether in Crypto Rally
Release: 2024/03/14 03:09 Reading: 547
In the dynamic world of cryptocurrency, Pepe Coin (PEPE) has emerged as a standout performer.
This weekend, it was in the limelight alongside giants like Bitcoin (BTC) and Ether (ETH), with both experiencing significant price increases.
BTC continued its streak of setting new all-time highs, while ETH crossed the $4,000 mark for the first time in two years.
PEPE also joined this upward trend, reaching a new all-time high, prompting large holders to secure profits.
Launched in April of the previous year, the frog-themed PEPE quickly became a prominent figure in the memecoin market, rivalling others like BONK and various Solana-based memecoins.
Despite a period of reduced attention, the recent market bull run has seen PEPE’s value soar, capitalizing on the positive market sentiment.
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
A significant transaction highlighted by Lookonchain involved a whale profiting over 431% in just two weeks, withdrawing over 1 trillion PEPE tokens from Binance in three separate moves before the price surge, culminating in an impressive $8.13 million gain from an initial $1.7 million investment in PEPE tokens.
This series of transactions underscored the substantial profits being made in the memecoin sector.
This surge in PEPE’s value is part of a broader resurgence in memecoin interest, with PEPE itself seeing an 800% increase in its value over the past month.
This has elevated it to the third largest memecoin by market capitalization, at $3.85 billion, reflecting a robust growth in trading volume and market activity.
Despite a slight dip from its all-time high, the community remains optimistic about PEPE’s position as a leading memecoin in this bull run, underscoring the continued fascination and confidence in the potential of memecoins within the cryptocurrency market.
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