Pepe price soars over 70% this week with continued momentum
The post Pepe price soars over 70% this week with continued momentum appeared on BitcoinEthereumNews.com.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Pepe surges over 70% this week, outpacing the broader crypto market amid Ethereum ETF news, while Dogeverse gains traction with its multichain approach. Pepe has surged over 70% this week, posting a decisive outperformance against the broader crypto market. Is the meme coin poised to continue rising or will it run out of steam? Pepe shows strength on ETH ETF rally The United States Securities and Exchange Commission’s green light to Ethereum spot ETFs has enabled Pepe’s recent parabolic rally. Currently, the frog-themed memecoin is trading at $0.00001695, up 14% today, 79% this week, and 183% this month. It holds a $7.1 billion market cap and a $2.7 billion 24-hour trading volume, up 39% today. Based on its market cap, Pepe stands as the third-largest memecoin and the 18th-largest cryptocurrency. However, its trading volume makes it the largest memecoin and the seventh-largest cryptocurrency. This market cap and volume discrepancy reflects a steadfast interest in Pepe, with the Ethereum spot ETFs recently catapulting it into the limelight. Immediately following the ETF approvals on 23 May, Pepe began outperforming other Ethereum ecosystem tokens. However, the momentum has continued, and now leading analysts are backing Pepe for further growth. Jameson recently suggested that Pepe will “flip” Shiba Inu’s market cap and compared its current price action to Dogecoin’s in 2021. CryptoKnight anticipates an explosive uptick toward $0.00003958, marking a 136% increase from its current price. Meanwhile, prominent trader Bluntz suspects Pepe is a leading ETH “beta” alongside other ecosystem memecoins. This refers to Pepe mimicking ETH’s price but with more volatile swings. The analyst also noted that Ethereum is gaining pace on Bitcoin, suggesting that Pepe could provide significant returns. But alongside…
Filed under: News - @ May 27, 2024 7:10 pm