• Pepe Coin (PEPE) has skyrocketed by over 40% in the past 24 hours.
• This impressive price increase comes amid a general rally of the digital asset market, whose global capitalization recently surged to $1.23 trillion.
• Possible factors driving this surge include Gemini’s video featuring PEPE’s logo and BlackRock’s plans to release a Bitcoin Spot ETF in the US.
Pepe Coin (PEPE), a meme coin launched in mid-April, has skyrocketed by over 40% in the past 24 hours. This impressive price increase comes amid a general rally of the digital asset market, whose global capitalization recently surged to $1.23 trillion (per CoinGecko data).
Factors Driving Price Surge
Two possible factors contributing to PEPE’s surge could be Gemini’s mysterious announcement and returned optimism in the overall crypto market. The cryptocurrency exchange posted a short video on Twitter that features PEPE’s logo and its possible shot “to the Moon” which hints about the end of bear market for Bitcoin (BTC). Additionally, BTC and most alternative coins have charted massive gains in the past few days following BlackRock’s plans to release a Bitcoin Spot ETF in the United States.
Price & Market Cap
PEPE’s valuation tapped a one-month high after soaring by approximately 40% over the last day. In addition, its market cap has ascended from around $400 million on June 21 to more than $633 million as of writing these lines.
The impressive growth of PepeCoin could be seen as an indicator for bullish sentiment returning back into cryptocurrency markets as well as an opportunity for investors interested into exploring meme coins with high potential upside returns.
Overall, PepeCoin’s recent performance demonstrates that cryptocurrencies remain an attractive investment option despite current turbulent macroeconomic environment caused by COVID-19 pandemic and other geopolitical events taking place globally throughout 2020–2021 period so far.