Memecoin Mania Grip Market: PEPE Hits All-Time High.
Key Takeaways
- PEPE reached a new all-time high on May 14, with its value briefly peaking at $0.0000110 before falling slightly.
- The return to social media of Keith Gill, also known as “Roaring Kitty,” has likely sparked new enthusiasm in the memecoin market.
- The overall memecoin market is going strong, with a notable increase in market capitalization and trading volume.
Ethereum-based MEMCOIN pepe Reached all-time high on May 14th It peaked at $0.0000110.
still Although it has fallen slightly to $0.0000109 at the time of writing, market sentiment remains bullish.
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PEPE’s market cap has now risen to $4.5 billion, cementing PEPE’s market cap at $4.5 billion. 25th largest cryptocurrency. This, along with a 261% surge in trading volume over the last 24 hours, has made PEPE It is the most actively traded memecoin, surpassing Dogecoin (DOGE).
This increase in activity may be related to: The re-emergence of trader Keith Gill, known as “Roaring Kitty,” who fueled the 2021 Gamestop short squeeze. This was an incident in which retail investors drove up the stock price of video game retailer GameStop, causing losses for hedge funds that sold the stock.
He became a hot topic by posting on X for the first time in three years. Another meme speculating about stocks rising. especially, Inspired by Gamestop memecoin GME saw a 293% increase in trading volume. It ranks as the 8th most traded memecoin in the last 24 hours.
The overall memecoin market is also showing an upward trend. At the time of writing, its market capitalization has increased about 4% to $54.1 billion. Overall trading volume increased nearly 137% to $10.6 billion.
As this enthusiasm takes over the market, Memecoin can ride the wave of enthusiasm and potentially reap significant profits in the future.
In other related news, Solana traders recently secured $23 million in profits by leveraging the volatility of meme-themed tokens.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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