- PepeCoin (PEPE) just achieved a new all-time high (ATH) today at $0.000008585
- The rally of the crypto community’s beloved frog-themed coin came as Bitcoin (BTC) came a few dollars away from realizing its highest recorded price back in November 2021.
PEPE Leapfrogs to a New ATH
While the normies are going FOMO on Bitcoin due to its near-ATH price movement lately, those who are looking to risk maximizing their game are shifting their play to altcoins. Recently, Shiba Inu (SHIB) has been leading the charge, but alongside it are the other animal-themed coins like Dogecoin (DOGE) and PepeCoin (PEPE).
In the past 24 hours, our beloved frog meme coin established support at $0.000006615 and resistance at $0.000008585 based on CoinMarketCap data. It should be noted that today’s peak marks a new ATH for PEPE, which significantly surpassed its previous record-high of $0.000003734 on May 6th last year. It also shows a whopping 13,000% growth in less than a year.
As of this writing at 7:30 AM UTC, PEPE found its footing at $0.000007536, showing a 15% gain in the same timeframe. PepeCoin displayed a staggering amount of volume in transactions with a rise of 40% within the day, too, as $4.35 billion PEPE moved between wallet addresses and crypto exchanges. This positions it in the top 10 of the most traded cryptos on the platform. Meanwhile, the digital coin’s circulating supply of 420.69 billion PEPE is now worth over $3.17 billion, which puts it in 39th place out of the 8,000-plus active cryptos indexed by CoinMarketCap.
What is Making Pepe Jump?
The price actions of Bitcoin are considered to hold the heaviest influence on cryptocurrency investors right now. The bull run in the world’s leading crypto by market cap has also prodded the sleeping bulls within the meme coin niche. As a result, favorites like PEPE, SHIB, and DOGE have benefitted greatly from the renewed optimism of the consensus.
Early on SHIB jumped by over 60% in its value as BTC inched closer to its ATH. But the biggest story by far is PEPE’s journey to its new summit, which is over 50% above its milestone in 2023.
Further pushing the values of altcoins are social media trends creating a lot of buzz for altcoins as investors who were late to the Bitcoin party looked for alternative crypto investments that could potentially give them a run for their money.
Lastly, there’s that simple allure PEPE brings to the table, thanks to its approachable entry point, engaging content, and easily recognizable logo in the world of meme coins.