Pepe Coin (CRYPTO: PEPE) has experienced a surge of 15% in the last 24 hours, surpassing other popular meme coins in terms of market capitalization, such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
What Happened: PEPE’s rise comes amid a shift in the overall market, triggered by financial institutions like BlackRock, WisdomTree, and Fidelity filing for spot Bitcoin (CRYPTO: BTC) ETFs.
This news has generated excitement among investors and has had a positive impact on the crypto market as a whole, with major meme coins like DOGE and SHIB also experiencing notable spikes of 4% and 4.36% respectively.
Data from CoinGlass shows that $1.78 million PEPE shorts have been liquidated in the past 24 hours, out of the total $2.54 million worth of liquidations.
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Current Price: Pepe is trading at $0.0000017 at the time of writing. This means you can buy 1 million PEPE coins for $1.60.
The PEPE token made its debut on the Ethereum (CRYPTO: ETH) blockchain in April and quickly gained traction, with its market capitalization surpassing $1 billion on May 5. This sparked a new wave of meme coins, many of which drew inspiration from the frog-themed phenomenon.
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