TL;DR
- PEPE has outperformed other meme coins with a 6% daily and 40% weekly price increase, boosted by its addition to Coinbase’s trading program.
Over the past year, its value has surged by approximately 1,800%, with its market capitalization currently equaling almost $3 billion.
PEPE Defies the Current Market Trend
The popular frog-themed meme coin – Pepe (PEPE) – is among the best performers in the cryptocurrency market, with its price rising by 6% on a daily scale. Moreover, its valuation is up nearly 40% over a week.
In comparison, other meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) have recorded some losses in the past 24 hours.
PEPE experienced a new surge in green, following Coinbase’s announcement to add support for the token. More precisely, Coinbase introduced Pepe perpetual futures on its International Exchange and Pro platforms.
“The opening of our 1000PEPE-PERP market will begin on or after 9:30am UTC on 23 APR 2024,” the announcement reads.
Previously this month, the meme cryptocurrency dogwifhat (WIF) experienced a price boost. This surge was likely due to Coinbase’s announcement that they would offer WIF perpetual contracts. As a result, WIF’s value increased by approximately 15%.
PEPE’s Impressive Year
A meme coin, presently the third-largest in its category, made its debut in April and soon gained significant attention in the market. The value of this coin has increased by around 1,800% over the past year, and its market capitalization even reached an astounding $4 billion back in March.
PEPE’s outstanding achievements during the past few months might be attributable to assistance from other exchanges in addition to the previously mentioned sponsorship from Coinbase.
According to CryptoPotato’s report, Binance announced the listing of the coin in May 2023. More recently, Binance broadened its trading offerings and made it possible to borrow PEPE using it as collateral on Binance Loan.
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2024-04-23 12:48