Pepe Coin outperformed popular meme coins like Dogecoin and Shiba Inu in terms of market capitalization over the past 24 hours, rising 9%.
Pepe Coin’s Surge In Value: What Caused It?
PEPE’s upward momentum coincides with a significant shift in the whole cryptocurrency market, precipitated by prominent financial institutions such as BlackRock, WisdomTree, and Fidelity filing for spot Bitcoin ETFs.
This occurrence has excited investors and had an advantageous impact on the overall cryptocurrency market, with popular meme coins like DOGE and SHIB enjoying price surges of 1% and 0.73%, respectively, during the past 24 hours.
Based on data from CoinGlass, there have been considerable liquidations of PEPE short positions, reaching $2.02 million in the past 24 hours out of $3.03 million in liquidations.
Current Price: Pepe Coin is currently worth $0.0000017 as of this writing. This means that for just $1.59, a person may acquire 1 million PEPE coins.
In April, Pepe Coin made its debut on the Ethereum blockchain and quickly gained up in the market. By May 5, its market capitalization reached more than $1 billion, triggering an upsurge of meme coins with a frog theme.