Pepe

Pepe Coin

Bitcoin

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 <p class="is-style-lead">This past week saw a diverse set of tokens participating in an upswing, and the meme coin Pepe (PEPE) was the star of the show.</p>
 <p>In the wake of the recent crypto <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> turbulence, spurred by <a rel="noopener noreferrer nofollow" title="speculation" href="https://thebittimes.com/tag/speculation.html">speculation</a> about Bitcoin spot ETF acceptance, PEPE has made waves with its announcement of burning more than $5.5 million worth of tokens.&nbsp;</p>
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    <p lang="en" dir="ltr">A frenzy of crypto-based memes like Pepe Coin have gained fresh momentum last week as Bitcoin rallied https://t.co/tO8Qz12cZ7</p>— Bloomberg Crypto (@crypto) October 29, 2023
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 <p>This move led to a significant 30% price hike in a single day, propelling PEPE to its peak in two months. The growth, set against the backdrop of potential Bitcoin spot ETF approval, marks a significant increase in PEPE’s value and indicates a potential rebound in the altcoin sector.</p>
 <p>According to crypto market monitor CoinGecko, over the previous week, the price of PEPE surged by a remarkable 56.5%. However, its current price of $0.00000115 signifies a 3.5% decrease as of now.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/CgVMJSE_lxKwWxWD5fozudOk4ZkSy82H-VIFoRnPZBDo_68OChe7RFtJ_jyNoz3Yy-l1OwBWeMhLJgfVl1e_eaj1Sc6JEPIOULc3uMYI6hsKKbjtS0DTQbj4fiQC45tiLJiVGm07pvz3sN9-JaZLDlo" alt="BTC ETF speculation sparks meme coin market surge - 1">
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   PEPE 7-day price chart | Source: CoinGecko
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 <p>The triumph of PEPE mirrors the burgeoning influence of meme-based cryptocurrencies, which largely thrive on internet communities and social media interaction.&nbsp;</p>
 <p>The buzz around these coins is fueled by several factors like trending social movements, speculative trades, and the lure of quick, albeit uncertain, returns on investment.</p>
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 <p>The past week has reignited the excitement in the crypto <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, with a diverse mix of coins leading the way for gains. Meme coins like Floki Inu (FLOKI) and Pepe capitalized on hype and <a rel="noopener noreferrer nofollow" title="speculation" href="https://thebittimes.com/tag/speculation.html">speculation</a>, with the onset of crypto spring attracting retail investors back to the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>.&nbsp;</p>
 <p>Meanwhile, platforms like the Mina protocol (MINA) and Injective (INJ), and THORChain scored gains due to project advancements and adoption milestones, and gaming tokens like Gala continued to surge as blockchain-based games continue to draw attention.</p>
 <p>Floki Inu saw an 85% increase. As a whole, the top 10 crypto gainers of the week all experienced double-figure returns, outdoing the larger <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>.</p>
 <p>MINA, one of the few larger <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap cryptos, enjoyed a 60% jump to $0.61986, bolstered by an uptick in development activity and increased adoption.</p>
 <p>Injective, a decentralized exchange protocol created for decentralized finance applications, experienced a 56.02% rally over the past week, reaching $13.355. Chainlink (LINK), the oracle network, saw a 44.66% increase this week, hitting an impressive $11.04.</p>
 <p>It’s worth noting that the extreme price volatility and speculative nature of meme coins can lead to unforeseen price swings and potential risk for investors.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> BTC spikes above $35K, Bankman-Fried takes the stand, Gemini sues Genesis, Elon Musk’s plans | Weekly Recap
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/btc-etf-speculation-sparks-meme-coin-market-surge-tbt68267.html">https://thebittimes.com/btc-etf-speculation-sparks-meme-coin-market-surge-tbt68267.html</a></p>

BTC ETF speculation sparks meme coin market surge

TheBitTimes

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