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PEPE Coin Spikes 15%, Leaving Dogecoin, Shiba Inu Trailing In the Dust — 1M Frog-Themed Tokens Worth Less Than $2 Today

Published 30/06/2023, 06:19
© Reuters.  PEPE Coin Spikes 15%, Leaving Dogecoin, Shiba Inu Trailing In the Dust —  1M Frog-Themed Tokens Worth Less Than $2 Today

Benzinga - Pepe Coin (CRYPTO: PEPE) has experienced a surge of 15% in the last 24 hours, surpassing other popular meme coins in terms of market capitalization, such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).

What Happened: PEPE’s rise comes amid a shift in the overall market, triggered by financial institutions like BlackRock, WisdomTree, and Fidelity filing for spot Bitcoin (CRYPTO: BTC) ETFs.

This news has generated excitement among investors and has had a positive impact on the crypto market as a whole, with major meme coins like DOGE and SHIB also experiencing notable spikes of 4% and 4.36% respectively.

Data from CoinGlass shows that $1.78 million PEPE shorts have been liquidated in the past 24 hours, out of the total $2.54 million worth of liquidations.

More: A Stay At The Floating Palace From James Bond's ‘Octopussy’

Current Price: Pepe is trading at $0.0000017 at the time of writing. This means you can buy 1 million PEPE coins for $1.60.

The PEPE token made its debut on the Ethereum (CRYPTO: ETH) blockchain in April and quickly gained traction, with its market capitalization surpassing $1 billion on May 5. This sparked a new wave of meme coins, many of which drew inspiration from the frog-themed phenomenon.

Read Next: Bitcoin, Ethereum, Dogecoin Trade Mixed As ETF-Induced Rally Pauses: Analyst Predicts Strong July For King Crypto Amid Vanishing ‘Crypto Death’ Fears

Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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