PEPE Coin, a frog-themed memecoin, experienced a remarkable surge this week, reaching a new all-time high. It soared over 30% and reached $0.00001128. The coin has gained significant attention as its price has increased by almost 109% in the past month and 901% in the past 6 months. Investors and analysts are now setting high targets for this meme coin.
Meme coins have been in a bearish trend for a long time, but yesterday, PEPE made a surprising move with a double-digit price surge. This unexpected rise has raised expectations for the coin’s future value.
Notably, whales are profiting from this surge. One whale made a profit of $13.67 million from PEPE in just three months. Out of that profit, the whale spent around $1.56 million to buy 1.40T Pepe coins. Recently, the whale sold 140.4B PEPE for 1.57M DAI at the new all-time high. Despite this large sale, the whale still holds 1.26T Pepe coins, which are worth $13.7 million.
Since March, Pepe Coin has been struggling to surpass the resistance level of $0.00000900. However, the coin’s price has been on an upward trend since mid-April. Currently, it is valued at $0.00001103, showing a 6.75% increase in a day. The surge in trading volume has also attracted investor interest and market engagement with this meme coin.
The surge in Pepe Coin’s performance coincided with the return of Keith Gill, also known as the “Roaring Kitty,” who had been dormant in the meme coin sector since June 2021 but re-entered on May 13, 2024. This re-entry ignited the meme coin market, benefiting PEPE along with other meme coins such as Solana-based GameStop memecoin (GME) and the AMC token, which witnessed significant increases. Even Dogecoin (DOGE) and Shiba Inu (SHIB) experienced gains, according to CoinGecko data.
In other crypto news, El Salvador has mined $29 million in Bitcoin using volcano energy.
