PEPE Memecoin Soars 68% in Recovery, Dominates Trading Volumes with $1.3 Billion Surge
The post PEPE Memecoin Soars 68% in Recovery, Dominates Trading Volumes with $1.3 Billion Surge appeared on BitcoinEthereumNews.com.
The cryptocurrency world has been buzzing with excitement over the past week as trading volumes for Pepe (PEPE), a frog-themed memecoin, have seen a significant uptick. This spike in activity has led to a robust rally, with PEPE’s value appreciating by over 31% in the last week alone. PEPE’s impressive performance was highlighted by a remarkable 68% increase from its local low in early September, reaching its highest price since early August. Discover how Pepe (PEPE) is leading the memecoin resurgence with an impressive rally and significant trading volume increases, reflecting broader trends in the cryptocurrency market. PEPE’s Significant Price Movement and Trading Volume Surge Over the past week, Pepe (PEPE), an Ethereum-based memecoin, has astonished the market with a 31% rally. This surge is reflected in its current trading price of $0.00001076, the highest level it has reached since August 3. The remarkable price movement corresponds with a trading volume that hit $1.3 billion on September 27, representing a 35% increase within a day and a 316% rise over the week. Recovery Across the Memecoin Sector PEPE’s resurgence is not an isolated event; it mirrors a broader recovery trend among memecoins. Top contenders like Dogecoin (DOGE) and Shiba Inu (SHIB) have posted substantial gains of 20.7% and 50% respectively over the past week. Even lesser-known memecoins such as Solana-based Dogwifhat (WIF) and Base’s Brett (BRETT) have seen weekly gains of 31% and 28% respectively. Overall, the total market cap of memecoins has surged to $53.7 billion, reflecting a 34.5% increase over the past week. Renewed Investor Confidence The surge in PEPE and other memecoins appears to be driven by renewed investor confidence in risk-on assets. Recent data from Alternative.me’s Crypto Fear & Greed Index, which has moved into the ‘greed’ zone at 61 from ‘fear’ at 30 a month…
Filed under: News - @ September 28, 2024 12:10 am