PEPE & Mog Skyrockets After Arthur Hayes’ Social Media Nod
Release: 2024/09/27 20:39 Reading: 340
Memecoin Market Update
Memecoins have gained significant attention, with a market capitalization of $55.61 billion at the time of writing. Pepe (PEPE), a prominent memecoin, has witnessed impressive growth, rising over 16% to reach $0.00001049.
The surge in Pepe's trading volume and prices is attributed to large-scale investments by prominent individuals, who have acquired significant PEPE holdings.
Market analysts indicate that the rise of Pepe and Mog, a feline-themed cultural coin, may be driven by the recent post of Arthur Hayes, who stated: "It's time for a memecoin breakout... I can't neglect PEPE."
Data from on-chain analysis firm SpotOnChain confirms the purchase of 24.39 billion PEPE worth over $252k at the time of writing.
Partnership and Promotional Tactics
DWF Labs and GraFun have announced a collaboration to promote the development of the memecoin market. BabyDoge Coin recently partnered with Sundog, a Tron-based memecoin.
Leading memecoins have established partnerships with sports personalities, celebrities, and teams, a strategy pioneered by the now-defunct FTX.
Top Performers and Market Landscape
The intraday top-performing memecoins include LandWolf (WOLF) with a 92% surge to $0.003172, followed by Byte (BYTE) and Floki (FLOKI) with notable gains.
Over 2900 memecoins exist in the crypto market, making it challenging to identify legitimate projects. Doge Killer is currently the most expensive memecoin, followed by PUPS and PepeCoin.
Dogecoin remains the most actively traded memecoin, with an intraday trading volume of over $1.4 billion. Its market capitalization has reached $18 billion.
Other News
Christian Angermayer has relocated to Lugano from England, citing crypto taxation concerns in the UK.
Grayscale's Bitcoin ETF has experienced outflows, while BlackRock's IBIT has gained traction.
Crypto Market Price Updates
At the time of writing, the cryptocurrency market capitalization stands at $2.30 trillion, with a 1.98% rise over 24 hours. The CoinMarketCap Fear and Greed Index indicates a neutral sentiment at 54.
Bitcoin has moved above $65k, currently trading at $65,413 with a 1.25% intraday surge. Its market capitalization has crossed $1.29 trillion, and trading volume has increased by 45.61%.
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