Memecoins led by Pepe see double-digit gains as Bitcoin flirts with $35,000 benchmark
Bitcoin’s latest rally has cleared the path for a resurgence in memecoins, led by #PEPE🔥🔥 the cartoon frog-themed token that’s recently surged double digits.
The world’s most popular cryptocurrency has gone on a tear recently, breaking through $35,000 last week to hit its highest level in more than a year. Bitcoin, at time of publication, was up just under 1%, at $34,600, on Monday—and is still up almost 13% over the past seven days.
The surge led by Bitcoin has awoken the memecoin traders who were laying low over the past several months as crypto prices lagged. The pack leader, Pepe coin, has jumped 57% over the past seven days, reaching its highest level since August. Others like Dogecoin and Shiba Inu also gained.
If Bitcoin continues upward, memecoins could get comfortable in its slipstream—but because the tokens often have little to base their value on, any piece of bad news could drive prices right back down.
