In the ongoing madness all around meme coins that have captivated the cryptocurrency market in 2023, PEPE has seen a significant resurgence.
After a prolonged decline from July 14 to October 3, the memecoin stopped its downward trend and entered an accumulation phase. The fund then entered a renewed bullish uptrend from October 20, outperforming Ethereumbased altcoin Shiba Inu (SHIB) and Elon Musk-backed Dogecoin (DOGE) by a significant margin.
As a result of this upward trend, PEPE has regained its position among the top 100 cryptocurrencies, currently ranking 96th.
Bitcoin’s rise above $35,000 is creating an upward trend in the market
This increase in value has been largely influenced by the market leader, Bitcoin (BTC), which crossed the $35,000 mark on Tuesday.
For many, the current uptrend is driven by the anticipation of a spot Bitcoin adoption exchange rate fund (ETF), which could potentially bring a new wave of capital to the market.
Furthermore, Dogecoin is among the five popular meme coins affected by Bitcoin’s rise to $35,000. Shiba Inu also posted a 5.9% gain and is currently trading at $0.00000765, following a similar pattern to DOGE.
In a major development, the development team behind PEPE announced on
In addition, a new team of advisors has come on board to guide Pepe’s future direction. The original team is exploring using the remaining 3.79 trillion tokens attributed to the Centralized Exchange (CEX) multi-sig wallet for strategic partnerships and marketing opportunities.
The PEPE community can expect regular updates on future token burns, movements or usage via Twitter and the official telegram channel.
PEPE price shoots up 25.83% in 24 hours
As of today, the price of Pepe (PEPE) stands at US$0.000000930549, with a 24-hour trading volume of $455,035,042.79. This represents a significant price increase of 25.83% in the last 24 hours and an increase of 43.63% over the last 7 days.
With a circulating supply of 420 billion PEPE, Pepe currently has a market capitalization of $398,014,904.
On the other hand, SHIB is currently priced at $0.00000739, with a 24-hour trading volume of $314,695,140.13.
In the last 24 hours, SHIB has experienced a price increase of 2.72% and a rise of 6.04% in the last 7 days. With a circulating supply of SHIB 590 billion, Shiba Inu has a market capitalization of US$4,348,847,496.
Meanwhile, DOGE is trading at $0.065989, with a 24-hour trading volume of $1,064,277,555.26. Over the past 24 hours, DOGE has seen a price increase of 3.02% and an increase of 11.02% in the past 7 days.
With a circulating supply of 140 billion DOGE, Dogecoin has a market capitalization of US$9,327,269,145.
The recent price movements and market activity of these meme coins reflect the renewed confidence and interest in the cryptocurrency market. Furthermore, these figures strengthen PEPE’s position as the standout in the market.
Featured image from Shutterstock, chart from TradingView.com