Over the past 24 hours, the frog-themed memecoin PEPE has grown by more than 8%, ahead of its main competitors DOGE and SHIBA. The first one lost 0.7% over the last 24 hours, the second one lost 0.61%.
Over the past 30 days, the PEPE memcoin rate has increased by more than 52%. Over the year, the comic asset rose in price by 1312%.
The crypto asset's market capitalization also increased by 9% and currently stands at $5.43 billion. However, memcoin is still worth 25% cheaper compared to the record value of $0.0000167 reached on May 28, 2024.
According to CoinMarketCap, PEPE previously fell at the same time as the overall cryptocurrency market, causing the token to fall in price by about 8% over the past seven days.
Memcoin's latest price action follows a significant acquisition by a major investor, sparking speculation about a potential PEPE rally. According to data from the network platform Scopescan, on June 11, the crypto whale withdrew 256 billion PEPE coins worth $2.9 million from the Bybit cryptocurrency exchange.
Another possible reason for the increase in PEPE could be the news of a potential listing of the asset on the leading cryptocurrency exchange Coinbase (NASDAQ:COIN). Earlier, in April 2024, the site opened a perpetual futures market for the token.
