In the past 24 hours, Pepe Coin, a meme cryptocurrency, has witnessed an impressive surge of 15%, surpassing other well-known meme coins such as Dogecoin and Shiba Inu.
This surge in Pepe Coin’s value comes amidst a larger market shift influenced by major financial institutions like BlackRock, WisdomTree, and Fidelity, who have recently filed for spot Bitcoin exchange-traded funds (ETFs). The news has generated excitement among investors and has had a positive impact on the overall cryptocurrency market.
Notably, Dogecoin and Shiba Inu have also experienced notable price spikes, with gains of 4% and 4.36% respectively, reflecting the broader market trend.
According to data from CoinGlass, a significant $1.78 million worth of Pepe Coin shorts have been liquidated within the past 24 hours, out of a total of $2.54 million in liquidations.
As of now, Pepe Coin is trading at $0.0000017 per coin, making it possible to acquire 1 million Pepe Coins with just $1.60.
Pepe Coin was launched on the Ethereum blockchain in April and quickly gained traction among cryptocurrency enthusiasts. Its market capitalization surpassed $1 billion on May 5, sparking a wave of new meme coins inspired by the frog-themed phenomenon.