Pepe Coin (PEPE) – the memecoin that turned into a sensation earlier this year – appears to have returned to the main crypto scene.
Its price has surged by almost 32% in the past seven days and 10% in the last 24 hours (according to CoinGecko).
One reason behind PEPE’s surge could be the overall revival of the cryptocurrency sector. The global crypto market cap has increased by approximately 3% on a daily basis, with most digital currencies charting substantial gains.
Another factor playing a role in the memecoin’s positive performance could be the whales’ activity. Lookonchain revealed that two recently created wallets spent a total of over $800,000 to purchase 1.08 trillion PEPE coins.
In addition, a different investor who previously profited more than $2.30 million from trading with the asset jumped into the ecosystem again by buying PEPE worth $645,000. “And this guy also spent 550 ETH ($951K) to buy 1.04T PEPE on August 29,” the Web3 data analysis platform reminded.
It is worth mentioning that PEPE is not the only memecoin soaring today (September 29). The Bored Ape Yacht Club-affiliated cryptocurrency – ApeCoin – is up over 10% daily and 12.5% on a weekly basis.
Those curious to find out more about the different memecoins, their specifics, and purposes can watch our video: