Popular meme coin pepe coin (PEPE) participated in the recent Bitcoin market rally, gaining more than 43% in price.
Meteoric Rise of PEPE
PEPE is currently trading at $0.000002109 and is attracting the attention of investors and analysts with its outstanding performance. Not only has its price risen, but its trading volume has also increased by an impressive 377%, reaching $806 million. This increase increased PEPE’s market value by 50% to $884.9 million.
The increase in the price of PEPE was surprising, exceeding the predictions of even experienced analysts. In January, crypto analyst Ali suggested that PEPE could break out of a descending parallel channel and reach $0.0000016 to $0.0000019 levels. However, the increase in the current value of PEPE crypto- It made clear the unpredictable nature of the market.
A major milestone in PEPE’s journey is its recent listing on Bitstamp, one of the oldest and most regulated centralized crypto exchanges in operation. Founded in 2011, Bitstamp has a strong user base of more than four million customers in more than 100 countries. Listing PEPE on this reputable exchange not only increases its liquidity but also enables it to reach a wider audience of potential investors.
Bitcoin’s Impact on PEPE
While PEPE’s meteoric rise is impressive, it is happening at the same time as Bitcoin’s resurgence. The leading cryptocurrency recently surpassed the $57,000 level, reaching a price point not seen in more than two years. Behind this rise is the increasing interest of institutional investors, as shown by on-chain data analysis.
CryptoQuant’s Ki Young Ju pointed out that the cryptocurrency was accumulated by “whales,” referring to Bitcoin’s large holders. This accumulation has led to unrealized profits for these investors, underscoring Bitcoin’s appeal among institutional circles and supporting analysts’ lofty predictions of upcoming growth.
