PEPE Price Rises 250% in a Week, Other Meme Coins Also Rise

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Bittime - PEPE, one of the meme coins inspired by the internet character Pepe the Frog, recorded a tremendous price increase in the past week. PEPE pricerose more than 250% from IDR 0.000005445 on February 28, 2024 to IDR 0.0000191 on March 6, 2024, according to CoinMarketCap data.

PEPE is a deflationary coin launched on the Ethereum network as an ERC-20 token. This coin was created as a tribute to Pepe the Frog, a meme that was popular in the early 2000s. The project aims to capitalize on the popularity of meme coins, such as Shiba Inu and Dogecoin, and seeks to establish itself as one of the top meme-based crypto assets.

PEPE offers a no-tax policy, a redistribution system that rewards long-term holders, and a burning mechanism to maintain coin scarcity. The total supply of PEPE is 420,690,000,000,000 coins, and every time there is a transaction, 1% of the number of coins transferred will be burned automatically.

Also Read How to Buy Crypto:

PEPE's roadmap features three phases, where phase one includes listing on CoinMarketCap and getting trending on Twitter, while phase two includes listing on centralized exchanges (CEX) and phase three includes listing on tier 1 exchanges and a “meme takeover.”

PEPE's rally occurred amid a broader crypto market rally, which caused the total market capitalization of crypto assets to jump to USD 2.25 trillion or the equivalent of IDR 35,230 trillion on March 1, 2024, for the first time since April 2022, according to CoinGecko data.

Another Meme Coin That's Rising in Price

Other meme coins, such as Dogecoin and Shiba Inu, have also experienced price increases in the past week, although not as much as PEPE. Dogecoin rose 5.68% to IDR 1,271, while Shiba Inu rose 11.85% to IDR 0.0000001.

Meme coins are crypto assets created based on jokes, parodies or popular culture references. Meme coins typically have no clear intrinsic function or value, but rely on community appeal and virality to attract attention and market demand.

Although meme coins are often considered speculation or a high-risk investment, some meme coin enthusiasts believe that these crypto assets can provide huge profits in the long term. One example is Sponge, a new meme coin that has surged 192% in the past month.

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What is Pepe Coin (PEPE)? Memecoin On Ethereum Blockchain Listed On Bittime

Pepe Coin's Rising Popularity in the Crypto Market: Analysis of PEPE's Price and Market Strength

PEPE Coin Aims for New Top in March As Bitcoin Soars

Most Popular Meme Coins February 2024: ApeMax, Pepe, BONE and More

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.