Pepe hits $11b market cap as price reaches new all-time high
Release: 2024/12/09 02:29 Reading: 786
Pepe Coin Soars to All-Time High Amid Market Surge
Despite the overall crypto market's performance, Pepe Coin (PEPE) has outperformed most altcoins and meme coins, reaching a new all-time high of $0.00002678.
Impressive Growth
Over the past week, PEPE has surged by over 20%, and by an impressive 130% over the past month.
Possible Reasons for the Surge
- Ethereum's Price Performance: Ethereum's recent recovery above $4,000 has benefited tokens within its ecosystem, including PEPE.
- High Open Interest: Coinglass data indicates a significant increase in PEPE's open interest, currently at a high of $356.79 million.
- Bullish Sentiment: According to IntoTheBlock data, 98% of PEPE holders are currently profitable, with 0% in losses.
Positive Holder Distribution
- 25% of holders have held PEPE for over a year.
- 53% have held it for one to 12 months.
Impact on Other Ethereum-Based Meme Coins
Other Ethereum-based meme coins, such as Shiba Inu (SHIB), have also experienced a modest gain of close to 3%.
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