Pepe Coin

Pepe

Coin

<p class="is-style-lead">Pepe Coin (<a href="https://crypto.news/price/pepe/" rel="noopener noreferrer nofollow">PEPE</a>) has rallied by more than 250% this week, displaying a remarkable bullish momentum across the global crypto market.</p>
<p>Several other meme coins, including Bonk (<a href="https://crypto.news/price/bonk/" rel="noopener noreferrer nofollow">BONK</a>), have also recorded double-digit gains this week.&nbsp;</p>
<h2 class="wp-block-heading" id="pepe-s-remarkable-climb">Pepe’s remarkable climb</h2>
<p>Amidst the frenzy of the crypto market, Pepe Coin has emerged as a standout performer, trailing behind meme coins like Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" rel="noopener noreferrer nofollow">SHIB</a>) and Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="noopener noreferrer nofollow">DOGE</a>).</p>
<p>Contrary to initial perceptions of diminishing value, PEPE has experienced a diverse trajectory, transforming into a billion-dollar asset during periods of speculated trend reversals.</p>
<p>Pepe Coin’s journey in February witnessed a consistent upward trajectory, culminating in a 255% rally over the week, as the meme coin’s price hit $0.0000041. Analyzing the weekly and daily chart patterns, the sustained growth indicates potential for further upward movement.&nbsp;</p>
<p>During this surge, <a href="https://coinmarketcap.com/community/articles/65df4b898654694551814c3e/" target="_blank" rel="noopener noreferrer nofollow">six prominent wallets</a> engaged in substantial PEPE trades, involving approximately 2 trillion coins.</p>
<p>The total transactions amounted to $4.37 million, yielding profits close to $2 million for the traders. This significant market activity underscores the heightened interest in PEPE.</p>
<h2 class="wp-block-heading" id="pepe-s-controversies">Pepe’s controversies</h2>
<p>However, the resurgence of PEPE prompts a revisit to past controversies. In January, the PEPE token team addressed a series of suspicious wallet transactions, distancing themselves from “nefarious” former team members. The swift denial and clarification that such activities are not linked to the current team suggest a complex backstory involving rogue developers.</p>
<p>Adding to the intrigue, suspicions of former team involvement trace back to an incident in August 2023, where rogue developers misappropriated 16 trillion PEPE coins, valued at nearly $16 million. Despite these challenges, PEPE has earned a nomination for ‘Memecoin of the Year,’ celebrating its impact on the crypto community and cultural zeitgeist.</p>
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   <p lang="en" dir="ltr">It has come to our attention that there has been a recent action in the <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PEPE</a> deployer. These transactions and any future transactions from the deployer wallet have no association to the remaining team of <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PEPE</a> and Pepe is not associated with any other projects or tokens. These… <a href="https://t.co/4qjLNqkYgr" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/4qjLNqkYgr</a></p>— Pepe (@pepecoineth) <a href="https://twitter.com/pepecoineth/status/1750892041419272415?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 26, 2024</a>
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<h2 class="wp-block-heading" id="pepe-s-current-market-standing">Pepe’s current market standing</h2>
<p>Pepe Coin is priced at $0.054174, representing a 15.14% increase in the last 24 hours and a 255% increase in the past week, according to data available on <a href="https://www.coingecko.com/en/coins/pepe" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>.</p>
<p>With a circulating supply of 420 trillion PEPE, its market cap stands at $1.77 billion. The rise of PEPE within a short time frame since its public launch in April 2023 is notable, as it quickly surpassed the $1 billion market cap milestone in just three weeks after going live.&nbsp;</p>
<p>Powered by the Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) blockchain, Pepe Coin is a popular meme coin characterized by extreme volatility. Despite the official statement claiming no intrinsic value or expectation of financial return, over a hundred thousand investors have engaged with PEPE on major crypto exchanges.</p>
<p>Pepe Coin’s original design incorporated a deflationary mechanism, burning a small percentage of tokens with each transaction to create scarcity. Additionally, a redistribution system allocated portions of transactions to existing token holders, fostering user engagement and encouraging long-term investments.</p>
<p>You might also like: <a href="https://crypto.news/bonk-pepe-memecoin-shiba-inu-price/" rel="noopener noreferrer nofollow"> BONK and PEPE lead 172% memecoin rally, can Shiba Inu’s price catch up? </a></p>
<h2 class="wp-block-heading" id="broader-crypto-trends">Broader crypto trends</h2>
<p>Amidst Pepe’s surge, other meme coins have experienced notable gains. Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="noopener noreferrer nofollow">DOGE</a>) surged by 61% in the past seven days, while Bonk witnessed a significant 102.10% increase.</p>
<p>The overall crypto market cap has swelled to $2.4 trillion, reflecting a period of “extreme greed” among investors, driven by Bitcoin’s dominance and the introduction of <a href="https://crypto.news/institutional-investors-poised-to-fuel-major-surge-in-bitcoin-etf-adoption-bitwise-predicts/" rel="noopener noreferrer nofollow">Bitcoin ETFs.</a></p>
<p>Notably, major financial institutions such as Bank of America’s <a href="https://crypto.news/bank-of-america-wells-fargo-bitcoin-etfs/" rel="noopener noreferrer nofollow">Merrill Lynch and Wells Fargo</a> have entered the Bitcoin ETF arena, increasing mainstream acceptance.</p>
<p>This move, coupled with the possibility of new offerings, is contributing to a bullish trend in the crypto market.</p>
<p>Read more: <a href="https://crypto.news/pepe-jumps-60-in-a-week-emerges-as-top-gainer/" rel="noopener noreferrer nofollow"> PEPE jumps 60% in a week, emerges as top gainer </a></p>

Pepe is up over 250% this week but still trails Shiba Inu, Dogecoin

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