Memecoin Mania; PEPE and FLOKI Report Double-Digit Gains
The post Memecoin Mania; PEPE and FLOKI Report Double-Digit Gains appeared on BitcoinEthereumNews.com.
PEPE Coin has surged over 30%, reaching a new all-time high of $0.00001422. BlockTower Capital sold 202 billion PEPE tokens for $2.8 million to Cumberland, making a 26% profit within six days. In the latest wave of consolidation within the global crypto market, memecoins are once again driving significant gains. Leading this surge is PEPE, which has achieved a remarkable rise of over 30%, reaching a new all-time high above $0.000014 in the early hours of trading. As Ethereum (ETH) demonstrates increased strength, Ethereum-based memecoins, PEPE and FLOKI are following suit, with PEPE edging closer to the top 20 tokens, with a market cap of nearly $5.6 billion. This surge followed reports that the U.S. Securities and Exchange Commission (SEC) had requested at least three securities exchanges to revise their applications to list spot Ethereum ETFs. PEPE and FLOKI Lead the Rally PEPE has consistently shown strong performance since the start of the month and has become one of the most traded assets on Binance. However, the price of PEPE has turned to a bullish pattern and is currently trading in an ascending channel pattern. Notably, BlockTower Capital recently transferred 202 billion PEPE tokens (valued at $2.8 million) to Cumberland for sale, just two hours after PEPE’s price crossed $0.000014. This follows BlockTower Capital’s acquisition of the same amount of PEPE (worth $2.22 million) six days earlier, resulting in a $578,000 profit and a 26% return on investment. However, after surpassing the $0.00001422 mark, it is on the verge of testing higher targets at $0.00001458. With market sentiment turning bullish, expectations are high for PEPE to continue its upward momentum, aiming for the next milestone at $0.00001650 and potentially reaching new heights at $0.00002. Meanwhile, FLOKI has also broken through a significant resistance phase, moving within a bullish pattern. After…
Filed under: News - @ May 22, 2024 11:22 am