- PEPE climbed 74% over the week in an explosive price rally.
- The internet frog meme-inspired coin has emerged as one of the best-performing cryptocurrencies amidst regulatory crackdown.
- Gemini exchange hinted at PEPE coin listing early on Thursday, fueling a bullish sentiment among holders.
PEPE, one of the largest meme coins in the crypto ecosystem, yielded upwards of 80% gains for holders over the past seven days. PEPE price advanced nearly 74% since Monday’s opening price of $0.00000093.
PEPE beats meme coins Dogecoin and Shiba Inu with massive gains
PEPE, a meme coin inspired by “Pepe the Frog” meme, surpassed $633 million in market capitalization in an explosive move. The meme coin’s price increased by 74% since June 19. At the time of writing, PEPE is exchanging hands at $0.00000151.
Shiba Inu and Dogecoin yielded modest gains for holders within the same time frame.
PEPE price chart shows that the token witnessed a large rally starting June 20, when Bitcoin rallied closer to the $30,000 level. Catalysts like institutional adoption and giant financial institutions filing for spot Bitcoin ETFs drove Bitcoin price higher. Following in Bitcoin’s footsteps, meme coins like PEPE yielded double-digit gains for holders.
PEPE/USDT one-day price chart
PEPE hit a local peak of $0.00000168 early on Thursday, wiping out all losses incurred by the meme coin since its decline on May 23.
The meme coin is currently trading above its 10-day Exponential Moving Average (EMA) at $0.00000114. The Fibonacci retracement of PEPE decline from the May peak of $0.00000437 to low of $0.00000088 has established key resistance levels for the meme coin.
PEPE faces resistance at 38.2% Fibonacci level at $0.00000222 and the 50% retracement at $0.00000263. It remains to be seen whether PEPE’s gains are sustainable in the long term.
Besides the Bitcoin price rally to $30,000, PEPE’s probable listing on Gemini exchange has acted as a bullish catalyst. The exchange teased PEPE’s listing on its platform in a tweet earlier today.
Feeling pepish about something coming soon… pic.twitter.com/PEwsTOVT22
— Gemini (@Gemini) June 22, 2023
PEPE’s listing on Gemini would introduce the meme coin to 1.8 million active users of the cryptocurrency exchange.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Price Forecast: BTC misses Santa rally even as on-chain metrics show signs of price recovery
Bitcoin (BTC) price hovers around $97,000 on Friday, erasing most of the gains from earlier this week, as the largest cryptocurrency missed the so-called Santa Claus rally, the increase in prices prior to and immediately following Christmas Day.
$18 billion in Bitcoin and Ethereum options expire today: Market braces for big moves
A record-breaking $18 billion in Bitcoin and Ethereum options expire today, sparking anticipation of sharp market moves and potential volatility.
Crypto.com launches US trust company for digital asset custody
Crypto.com launches a US trust company to offer digital asset custody services, marking a major step in its North American expansion strategy.
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery
The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.