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Pepe (CRYPTO: PEPE) has soared to a $7 billion market capitalization, adding $4 billion in May alone. Pepe has become the third meme coin, following Dogecoin (CRYPTO: DOGE) and Shiba Inu (SHIB/USD), to reach this significant milestone.
Bitcoin (BTC) is in a tailspin! But what's causing the chaos? It all points back to the defunct Mt. Gox exchange. After years of silence, Mt. Gox is making a surprise move, and traders are worried. Why? Because they're about to unleash a $9 billion hoard of Bitcoin on the market.
According to the analytics X account @lookonchain, earlier today, a mysterious whale transferred a significant amount of PEPE meme coins to the Binance exchange. This gave the asset's price a major push downwards, making it fall another 11% from the recently reached all-time high.
Continuing with the praises of Pepe Coins gains, a trader has turned his mere $462 investment into $3.4 Million. It is no shock as this frog meme coin has surged almost 100% this month, making its value more than twice what it was at the start of the month and setting the all-time high record
The cryptocurrency market has experienced significant price volatility since the start of the week, highlighting increased price action within the crypto space. Moreover, the SEC's approval of the spot Ethereum ETF has ignited a fresh bull rally-like situation in the market.
The crypto markets are facing extreme bearish pressure as the Bitcoin price is slumping hard after losing the $68,000 support level. This has also compelled the other altcoins to undergo a notable pullback, in which the memecoins have taken the lead. The tokens which were leading the top performers now face massive pullbacks.
Thanks to the impressive price rally over the past month, Pepe (PEPE) is now the most profitable token among the leading meme coins.
Crypto Market Selloff: The digital asset space witnessed a sharp decline today, with the majority of altcoins failing to maintain a positive momentum. While Bitcoin price stayed near the bay, major altcoins and meme coins like Ethereum, Solana, XRP, Dogecoin, Pepe Coin, and others, have witnessed a selloff today.
After calling 2024 a “political bull run,” Crypto analyst Miles Deutscher invests heavily in crypto altcoins. He recommends long-term investors focus on leading coins in each category and diversify. His idea is to trade top-performing coins during peak seasons and switch investments as market trends shift.
As the total cryptocurrency market cap slipped 2 percent to about $2.5 trillion on Thursday, the frog-themed meme coin, Pepe (PEPE), continued with the recent correction in the past 24 hours. According to the latest crypto oracles, Pepe's price has dropped more than 20 percent in the past three days, and it traded around $0.
PEPE was on a roll until today, but has dumped by double digits now.
The cryptocurrency markets are now taking a bullish turn and extracting much excitement from meme coin spaces.
Pepe and Bonk have seen increased Open Interest in the last few days, which indicates growing interest.
PEPE's market cap now tops $6.2 billion, outshining major NFT collections in value and daily trading volume, signaling a shift in investor focus. The post Meme coin takeover: PEPE surpasses market value of all major NFT collections combined appeared first on Crypto Briefing.
The cryptocurrency in question emerged as the eighth-biggest meme coin.
Shiba Inu (SHIB) is riding high on its bullish momentum as meme coins across the board see an increase in market performance. The dog-themed meme coin currently holds the leading position in recent gains, with PEPE trailing behind.
Robinhood Crypto Europe, a subsidiary of Robinhood in the EU, has announced an exciting giveaway campaign for its users, involving PEPE tokens. In December 2023, Robinhood launched its crypto service in the European Union, allowing users to buy and sell a range of digital currencies.
The ongoing meme coin frenzy, led by frog-themed Pepe (PEPE), has pushed the industry to nearly $69 billion in market cap and over $10 billion in daily average traded volume. The desire to trade more volatile digital assets has lured more crypto investors to the meme coin industry.
Lookonchain data shows an investor accumulated PepeCoin worth over $1.02 million, 67 billion coins, from OKX exchange on Wednesday. Notably, the top player has switched from Shiba Inu to PEPE, highlighting a potential dynamics shift in the memecoin sector.
The crypto market rejoiced in 2024 as the year brought the industry back to its feet. Despite a recent slump, the year has been a lifesaver for cryptocurrencies. Following ETH ETFs' approval, Ethereum and memecoins have seen significant price surges, with memecoins rallying over the past week.
A major player in the crypto market has shifted his attention from Shiba Inu (SHIB) to focus on Pepe Coin, a leading player in the meme coins sector. However, despite this shift, Pepe Coin experienced a dip in price today, contrasting sharply with SHIB's notable gains of over 9%.
A cryptocurrency trader who lost over $2 million buying Shiba Inu (SHIB) at the top and selling at the bottom in the last market cycle has bought $1 million worth of PEPE.
With the crypto markets turning green, the meme coin sector is spearheading the bull run. Amidst the meme coins, the PEPE price trend remains the top performer with a bull run with a 126% jump in May.
After a 136% gain in May, the PEPE price is settled around $0.00001632 for now. This frog meme coin exhibited impressive gains over the month and created an all-time high record of $0.00001718 just two days ago.
