Throughout 2023, PEPE has experienced a remarkable recovery as the continued frenzy for the meme coin has gripped the cryptocurrency market.
After a long decline from July 14 to October 3, this memecoin stopped its downtrend and entered an accumulation phase. Then, starting from October 20, it started a new bullish uptrend, significantly outperforming ETH-based altcoin SHIB and Elon Musk-backed DOGE. #PEPE
As a result of this upward trend, PEPE has reclaimed its spot in the top 100 cryptocurrencies and is currently ranked 96th.
BTC breaks through $35,000, the market enters an upward trend
The upward trend in the market was largely influenced by the market leader BTC, as BTC broke through the important $35,000 mark on Tuesday.
For many market participants, the current rally is driven by expectations that an ETF may be approved, which could usher in a new round of capital.
Additionally, DOGE is among the five popular meme coins that were affected by BTC’s rise to the $35,000 level. Shiba Inu also experienced a 5.9% increase and is currently trading at $0.00000765, similar to DOGE.
In a significant development, PEPE’s development team announced the destruction of approximately $6.9 trillion of PEPE on X, equivalent to a value of approximately $6,000,000. In addition, they hired a new team of consultants to guide PEPE's future development direction. The original team is actively exploring how to use the remaining 3.79 trillion tokens in the multi-signature wallet in CEX to seek strategic partnerships and marketing opportunities. #DOGE #SHIB
The PEPE community can get regular updates on Twitter and the official Telegram channel about future token burns, developments, and usage.
PEPE price surged 25.83% in 24 hours
As of today, the price of PEPE has reached $0.000000930549, with a 24-hour trading volume of $455,035,042.79. This indicates a significant price increase of 25.83% in the past 24 hours, while the price has increased by 43.63% in the past 7 days.
The total circulation of PEPE is 420 billion PEPE, and the current market value is $398,014,904.
On the contrary, the price of SHIB is currently 0.00000739$, and the 24-hour trading volume has reached 314,695,140.13$. In the past 24 hours, the price of SHIB has increased by 2.72%, and in the past 7 days, it has increased by 6.04%. The total circulation of Shiba Inu is 590 billion SHIB, and the market value has reached 4,348,847,496$.
Meanwhile, DOGE is trading at $0.065989, with a 24-hour trading volume of $1,064,277,555.26. In the past 24 hours, DOGE's price has risen by 3.02%, and in the past 7 days it has risen by 11.02%. The total circulation of DOGE is 140 billion DOGE, with a market value of $9,327,269,145.
These recent price movements and market activity for MEME indicate a renewed confidence and interest in the cryptocurrency market. Furthermore, these figures solidify PEPE’s position as a strong performing asset in the market.
