In the continuing frenzy surrounding meme coins which have captivated the cryptocurrency market all through 2023, PEPE has skilled a major resurgence.
After a chronic decline from July 14 to October 3, the memecoin halted its downtrend and entered an accumulation part. Subsequently, it launched into a renewed bullish uptrend beginning on October 20, outperforming Ethereum-based mostly altcoin Shiba Inu (SHIB) and Elon Musk-backed Dogecoin (DOGE) by a major margin.
As a results of this uptrend, PEPE has reclaimed its place within the prime 100 checklist of cryptocurrencies, at the moment rating 96th.
Bitcoin’s Surge Beyond $35,000 Sparks Market Uptrend
This surge in worth has been largely influenced by the market chief, Bitcoin (BTC), which surpassed the $35,000 mark on Tuesday.
For many, the present uptrend is pushed by anticipation of the approval of a spot Bitcoin exchange-traded fund (ETF), which may doubtlessly convey a brand new wave of capital into the market.
Furthermore, Dogecoin is among the many 5 standard meme cash influenced by Bitcoin’s rise to $35,000. Shiba Inu additionally skilled a 5.9% achieve and is at the moment buying and selling at $0.00000765, following an identical sample to DOGE.
In a major growth, the dev group behind PEPE announced on X (previously Twitter) that roughly 6.9 trillion $PEPE tokens, price round $6,000,000, have been burned.
Additionally, a brand new group of advisors has been introduced on board to information the longer term path of Pepe. The authentic group is exploring utilizing the remaining 3.79 trillion tokens, attributed to the Centralized Exchange (CEX) multi-sig pockets, for strategic partnerships and advertising and marketing alternatives.
The PEPE group can anticipate common updates on future token burns, actions, or makes use of by way of Twitter and the official telegram channel.
PEPE Price Skyrockets By 25.83% In 24 Hours
As of at this time, the value of Pepe (PEPE) stands at US$0.000000930549, with a 24-hour buying and selling quantity of $455,035,042.79. This represents a major worth enhance of 25.83% within the final 24 hours and a 43.63% enhance over the previous 7 days.
With a circulating provide of 420 billion PEPE, Pepe at the moment holds a market capitalization of $398,014,904.
On the opposite hand, SHIB is at the moment priced at $0.00000739, with a 24-hour buying and selling quantity of $314,695,140.13.
Over the previous 24 hours, SHIB has skilled a worth enhance of two.72% and a 6.04% enhance over the previous 7 days. With a circulating provide of 590 billion SHIB, Shiba Inu has a market capitalization of US$4,348,847,496.
Meanwhile, DOGE is buying and selling at $0.065989, with a 24-hour buying and selling quantity of $1,064,277,555.26. Over the previous 24 hours, DOGE has seen a worth enhance of three.02% and an 11.02% enhance over the previous 7 days.
With a circulating provide of 140 billion DOGE, Dogecoin holds a market capitalization of US$9,327,269,145.
The latest worth actions and market actions of those meme cash replicate the renewed confidence and curiosity within the cryptocurrency market. Furthermore, these numbers solidify PEPE’s place because the standout performer available in the market.
Featured picture from Shutterstock, chart from TradingView.com
