Popular meme coin Pepe (PEPE) has surpassed its rivals such as Dogecoin (DOGE) and Shiba Inu (SHIB) with its astonishing rise.
PEPE, the new meme coin of the cryptocurrency market and the star candidate of this bull, is the latest Rising by around 420% in 1 week It made its investors rich.
Against this Shiba Inu, FLOKI (FLOKI) And dogecoin Despite the development announcements made by last bull season stars such as Overshadowed by Pepe’s massive rise.
Commenting on the reason for the rise, analyst Nick Ruck stated that individual investors see meme coins as a better means of earning, resulting in significant increases, especially in newly released meme coins:
As traders and investors take a breather from the recent rise in prices of bluechip tokens and coins, they are turning to meme coins to make quick profits.
Emerging as an internet phenomenon in the early 2000s From Pepe the Frog Inspired by PEPE, it has managed to attract the attention of investors since the first day it was launched. Especially from the cryptocurrency market Individual investors who want to make high profits quicklyas always, flocked to meme coins, causing PEPE and its equivalents to rapidly gain value.
Increasing risk appetite brought about millions of dollars of liquidation in the futures market. CoinGlass According to data on PEPE in the last 24 hours Short worth $13 million directional futures position was liquidated.
According to CoinGecko data, only in the last 24 hours 38% up exhibiting PEPE, at the time of writing From $0.00000692 is being traded.