Why Pepe Coin Rises While Other Cryptos Fall: Key Factors Behind Its Growth
1. Exchange Listings
The inclusion of PEPE on major cryptocurrency exchanges has significantly boosted its visibility and accessibility.For instance, Coinbase's listing of PEPE on November 13, 2024, led to a 49% price surge within a single day.
2. Whale Activity
Large investors, known as "whales," have been actively trading PEPE.Significant purchases and deposits by these investors can drive up demand and prices.For example, a whale deposited approximately 52.62 billion PEPE tokens (valued at $10.03 million) on Binance, realizing a 97% gain in just one week.citeturn0search2
3. Community Engagement and Social Media Buzz
PEPE's strong and active community has played a crucial role in its price appreciation.The widespread sharing of memes and discussions on platforms like Twitter and Reddit have amplified interest and investment in the coin.
4. Meme Coin Popularity
Inspired by the popular "Pepe the Frog" meme, PEPE has attracted investors looking to capitalize on the viral nature of meme-based cryptocurrencies.This cultural resonance has contributed to its rapid adoption and price increase.
5. Market Dynamics
The cryptocurrency market is highly volatile, and investor sentiment can shift rapidly. PEPE's recent performance may be influenced by speculative trading and the search for high-risk, high-reward opportunities, especially as more established cryptocurrencies experience downturns.
