Pepe’s Phenomenal Surge
Pepe, the frog-faced meme coin, has outperformed its competitors with an astounding surge in value. CoinGecko reports that PEPE has soared over 52.6% in the past 24 hours and has experienced a remarkable 78.2% increase in the past week.
The coin has garnered attention after a single investor turned a mere $260 investment into an impressive $8 million within two weeks. However, it’s crucial to note that PEPE’s volatility is comparable to that of other joke cryptocurrencies, and its future prospects remain uncertain.
Despite a setback in August when rogue developers illicitly transferred millions of dollars worth of PEPE from its multi-sig wallet, the coin has since rebounded and now boasts a market cap of $917.55 million.
Bitcoin’s Influence on Meme Coins
Pepe’s Unrivaled Success
While Pepe has emerged as the top-performing meme coin, other meme tokens have also witnessed notable gains. Dogecoin (DOGE), the largest meme coin, has risen 12.3% today, while its rival Shiba Inu (SHIB) has climbed over 9.4% in 24 hours.
Bitcoin’s Ascendance
The recent surge in Bitcoin’s value has had a positive impact on meme coins. As the leading cryptocurrency experiences gains, it often elevates other tokens as well.
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