The cryptocurrency market continues to struggle, with the global market cap standing at around $2.26 trillion and transaction volume failing to exceed $72 billion. This downward trend has dampened investor sentiment, pushing the fear and greed index towards neutral territory. However, amidst the gloom, several cryptocurrencies managed to buck the trend and gain value. In particular, four coins, including PEPE coin, attracted attention with their rise. PEPE coin even reached its all-time high (ATH).
PEPE coin is among the top risers
Leading the group is the meme coin PEPE, which features the iconic frog image. PEPE recently hit a new all-time high and is currently trading at $0.000011156, just a hair away from the top. This represents a significant 10% increase in the last 24 hours and a staggering 111% increase in the past month. PEPE’s recent rise has brought it to the forefront of the meme coin scene.
cryptokoin.com As we reported, PEPE, launched on the Ethereum Blockchain in April 2023, quickly attracted the attention of the crypto community. Prominent names in the space voiced their support, and major exchanges such as Binance, Coinbase, and OKX readily adopted PEPE, enabling trading services. This combination of factors has accelerated PEPE’s growth and allowed savvy traders to make significant profits.
With a market cap approaching $5 billion, it has firmly secured third place, trailing giants Shiba Inu (SHIB) at $14 billion and Dogecoin (DOGE) at a staggering $21 billion. This rise turned into a significant amount of profit for PEPE holders. Data from IntoTheBlock reveals that almost all PEPE investors were making profits on paper just a few hours ago, and even now the figure remains at an impressive 98%.
Watch out for W, GME and AR!
Wormhole (W), a bridge that facilitates communication between different Blockchains, has also witnessed a healthy rise. W currently sits at $0.544, reflecting a 4.6% daily gain. Gamestop (GME), made popular by the return of Roaring Kitty, made famous during the GameStop events, is the real breakout star of this group. GME is up an incredible 3183% in just seven days and continues to climb, up 55% in the last 24 hours alone. This means the current trading price is $0.01719.
At the bottom of the list is decentralized storage network Arweave (AR). AR has been in an uptrend for days, with its price rising by 5% daily to $41.25. This momentum is also reflected in weekly and monthly charts; AR increases by 8% and 46% respectively. These success stories underscore the profit potential even in a stagnant market. However, it is very important to recognize the inherent risks. Meme coins are highly volatile by nature. While PEPE’s rapid rise has received significant support from key figures and stock markets, its future trajectory remains uncertain.
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