Pepecoin (PEPE), a meme-inspired cryptocurrency built on the Ethereum blockchain and inspired by the popular Pepe the Frog character, has seen a significant price increase of more than 43%. This surge aligns with the recent market rally observed in Bitcoin.
PEPE recently achieved a significant milestone by being listed on Bitstamp, a well-established and highly regulated centralized cryptocurrency exchange. With over four million customers spanning across more than 100 countries, Bitstamp offers a solid platform for trading. This listing not only boosts PEPE’s liquidity but also increases its visibility to a wider range of potential investors.
PEPE Surges Amid Bitcoin Rally
Pepecoin (PEPE), an Ethereum-based meme coin inspired by the infamous Pepe the Frog character, has witnessed a remarkable surge of over 43% in its price, aligning with Bitcoin’s recent market rally. Currently trading at $0.000002109, PEPE has attracted attention from traders and analysts due to its outstanding performance.
PEPE 1Day Chart. Source: CoinMarketCap
Not only has its price soared, but its trading volume has also experienced a significant increase of 377%, reaching $806 million. This surge in activity has propelled PEPE’s market capitalization up by 50%, now standing at a substantial $884.9 million.
The surge in PEPE’s price trajectory has surprised even seasoned analysts. In January, crypto analyst Ali suggested the potential breakout of PEPE from a descending parallel channel, with a forecast of reaching levels around $0.0000016 to $0.0000019. However, the current surge in PEPE’s value has surpassed these predictions, highlighting the unpredictable nature of the crypto market.
PEPE’s Growth During Bitcoin’s Comeback
While Pepecoin (PEPE) experiences its meteoric rise, it’s worth noting that this surge is happening alongside Bitcoin’s resurgence. Bitcoin, the leading cryptocurrency, has recently crossed the $57,000 mark, reaching a price unseen in over two years.
This rally in Bitcoin is fueled by growing interest from institutional investors, as indicated by on-chain data analysis. CryptoQuant’s Ki Young Ju has highlighted the accumulation of Bitcoin by “whales,” referring to large holders of the cryptocurrency. This accumulation has resulted in unrealized profits for these investors, underscoring Bitcoin’s appeal in institutional circles. These developments have led to heightened predictions of imminent growth from analysts.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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