Bittime – The frog-themed meme coin, Pepe (PEPE), has just experienced an incredible price surge of 25% in just one day. This fantastic increase succeeded in bringing Pepe to third place in the meme coin with the largest market capitalization.
The meteoric rise of the Pepe coin has attracted great attention from retail investors, especially amidst the growing altcoin trend triggered by speculation around the potential approval of a spot Ethereum ETF in the United States.
Liquidity and Trading Volume Drive Pepe's Rise
Pepe has over $60 million in liquidity, which facilitates seamless trading for both whales and retail investors. This substantial liquidity played a key role in Pepe's recent rise, allowing for easy exchange and driving up his market value.
Daily trading volume for Pepe now reaches an impressive figure of $3 billion, even surpassing Dogecoin (DOGE) which recorded a daily volume of around $2.58 billion.
Also read: Pepe (PEPE) Soars: Daily Trading Volume Reaches $1.5 Billion
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Meme Coin Resurgence?
The meme coin sector is experiencing a renaissance. Its overall value jumped to about $62 billion and maintained an average daily trading volume of about $10 billion. Pepe's meteoric rise to new record highs underscores this trend, highlighting strong market dynamics driven by high liquidity and significant investor interest.
Also read: Guide to Choosing a Meme Coin: Don't Believe the "We Are More Than Just Memes" Narrative
Market Dynamics and Impact of Ethereum ETF Spot
The broader Ethereum ecosystem is at an important crossroads. Tomorrow's anticipated decision on VanEck's spot Ether ETF in the United States is expected to have substantial market implications. The shift in capital from Bitcoin to Ethereum, as evidenced by the reversal of the ETH/BTC pair and the change in Bitcoin dominance, has visibly benefited Ethereum-based altcoins like Pepe.
Also read Altcoin Ethereum Soars 20%! Here's the Impact of Ethereum ETF Approval by SEC
Early Investors and Significant Transactions
The last few days have seen a surge in activity from early Pepe investors, with a notable liquidation captured by on-chain analysts at Lookonchain.
lookonchain trader pepe making $578k in 6 days
In one significant transaction, a trader deposited more than 201 billion Pepe tokens, worth approximately $2.83 million, to the Bybit exchange within 24 hours. Another early investor, who initially invested $462 and made a stunning $3.4 million profit, deposited more than 182 billion Pepe tokens into Binance during the same period.
Additionally, BlockTower Capital's purchase of 202 billion Pepe tokens via Cumberland a week ago resulted in profits exceeding half a million dollars, underscoring Pepe's lucrative potential amidst current market dynamics.
Also Read How To Buy Crypto:
PEPE to USDT Price Today
According to Bittime Exchange PEPE to USDT today is at 0.000014458 and over the last 24 hours has increased by +3.87%
Pepe's Future: Hold or Sell?
As Pepe continues his impressive rise, investors face an important decision: hold for potentially bigger gains or cash out before a possible market correction. With the cryptocurrency landscape constantly changing, only time will reveal the ultimate trajectory of this frog-themed meme coin.
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How to Buy Pepe (PEPE) on Bittime
You can buy and sell Pepe (PEPE) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Pepe (PEPE) is available on Bittime with the market pair PEPE/USDT . To be able to buy PEPE IDR at 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 Pepe (PEPE), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Pepe (PEPE): Will this Meme Coin Moonbag and Reach ATH
This is the Price Prediction for Pepe Coin (PEPE) After Soaring 145% in a Week
5 Reasons Why Pepe (PEPE) is a Must Invest Right Now
PEPE Coin: Highs, Whale Moves and Smart Money in Q2 2024
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.
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