According to CryptoPotato, Pepe Coin (PEPE), a memecoin that gained popularity earlier this year, has seen its price increase by nearly 32% in the past seven days and 10% in the last 24 hours. One possible reason for PEPE's surge is the overall revival of the cryptocurrency sector, with the global crypto market cap increasing by approximately 3% daily and most digital currencies experiencing significant gains.

Another factor contributing to the memecoin's positive performance could be the activity of whales. Lookonchain revealed that two recently created wallets spent a total of over $800,000 to purchase 1.08 trillion PEPE coins. Additionally, another investor who previously profited more than $2.30 million from trading with the asset re-entered the ecosystem by buying PEPE worth $645,000. The Web3 data analysis platform also noted that this investor spent 550 ETH ($951,000) to buy 1.04 trillion PEPE on August 29.

It should be noted that PEPE is not the only memecoin experiencing growth on September 29. ApeCoin, a cryptocurrency affiliated with the Bored Ape Yacht Club, is up over 10% daily and 12.5% on a weekly basis.