PEPE Coin: Top 100's Biggest Gainer with 40% Rally in 24 Hours

Bombolo | News and Media

In the volatile world of cryptocurrencies, there is one coin that has been making waves recently. Pepe (PEPE), the popular frog-themed memecoin, has emerged as the top performer among the top 100 projects. With a remarkable rally of 40.6% in the last 24 hours and an impressive 69% surge in the weekly charts, Pepe has captured the attention of investors and crypto enthusiasts alike.

Also Read: Pepe Coin: Unleashing Its Millionaire Potential - From $100 to $1.12 Million

Growing Holders and Profitability

Pepe not only gained significant value but also witnessed a steady increase in its number of holders. According to data from Etherscan.io, PEPE now boasts a total of 121,461 holders, marking a 0.478% growth in just 24 hours. Furthermore, this rally has resulted in a rise in the percentage of holders in profit. Statistics from IntotheBlock reveal a 12.53% increase in holders profiting from their investments within the last 24 hours. Currently, 44% of holders are in profit, while 41% are still holding positions in losses. Surprisingly, 15% of holders have managed to break even.

BlackRock's Spot Bitcoin ETF and Pepe's Rally

The recent positive investor sentiment surrounding BlackRock's Spot Bitcoin (BTC) ETF filing appears to have played a role in Pepe's rally. As the current market trend is largely influenced by Bitcoin, Pepe, being a frog-themed crypto, seems to be capitalizing on the favorable conditions. Additionally, IntotheBlock data suggests that large transactions have experienced an 8.10% decline, potentially indicating that the current rally is fueled by retail investors.

Also Read: The $ANA Token: Unleashing the Potential of Meme Coins with a 200x Return

Gemini's Mystery Announcement

Adding to the excitement, popular crypto exchange Gemini took to Twitter with a cryptic message, stating, "Feeling pepish about something coming soon." While no specific details have been disclosed, speculation suggests that Gemini may be planning to launch something related to Pepe. Notably, the exchange quickly became one of the largest PEPE holders shortly after the token's launch.

Is PEPE Making a Comeback?

As a memecoin, Pepe heavily relies on online buzz and social media mentions for its relevancy. According to data from LunarCrush, social mentions of the meme coin have decreased by 28.9%. However, social engagements have seen a modest increase of 9.6%. It is important to note that Pepe's latest rally may be short-lived due to its high volatility. Without substantial real-world use cases or widespread adoption, the future growth of this frog-themed crypto is highly dependent on hype and speculation. As of now, PEPE is trading at $0.00000149, reflecting a 2.1% decrease in the last hour.

Pepe, the popular memecoin, has surged to become the best-performing crypto among the top 100 projects. Its recent rally, driven by positive investor sentiment and the influence of Bitcoin, has captured the attention of the crypto community. However, the volatile nature of memecoins and the lack of substantial utility may pose challenges for Pepe's sustained growth. Investors should approach this frog-themed crypto with caution, considering its high volatility and reliance on social buzz for relevancy.

Also Read: Why Bitcoin (BTC) Price Is Up Today? Exploring the Factors Driving the Upward Momentum.

(FAQs)

1. What is Pepe (PEPE)?

Pepe is a memecoin, characterized by its frog-themed imagery, that has gained popularity in the crypto community.

2. Why has Pepe experienced a sudden surge in value?

Pepe's rally can be attributed to positive investor sentiment around BlackRock's Spot Bitcoin ETF filing, as well as the overall market trend influenced by Bitcoin.

3. How many holders does Pepe currently have?

As of the latest data, Pepe has 121,461 holders, with an increase of 0.478% in the last 24 hours.

4. Is Pepe a good investment?

Investing in Pepe comes with risks due to its high volatility and lack of substantial use cases or adoption. Investors should carefully evaluate their risk tolerance before considering Pepe as an investment.

5. What is the price of Pepe at the moment?

At present, Pepe is trading at $0.00000149, reflecting a 2.1% decrease in the last hour.