In the last week, PEPE had a rise of more than 100%.
We are experiencing a week of “meme-mania”, with several memecoins on the rise.
The price of the PEPE memecoin had a weekly increase of more than 100%. The rise was driven by its recent incorporation to Coinbasethe second largest bitcoin (BTC) and cryptocurrency exchange in the world.
“When? Now. “PEPE is available to negotiate,” was the publication What did the communications team do? Coinbase on your official X account.
As CriptoNoticias has explained, memecoins are digital assets that pay tribute to a mascot, political or famous figure. They do not solve any problems and are used for entertainment and financial speculation. For that reason, its price can go up or down in a matter of seconds.
In the case of PEPE, it was launched in April 2023 and was born as a tribute to the Internet meme “Pepe, the frog.”
Since the launch was confirmed in Coinbase, meme cryptocurrency rose almost 70% and its price touched the barrier of $0.000025.
At the time of publication of this note, the price is $0.00002171.
Thanks to this rise, the memecoin whose icon is a smiling frog exceeded $10 billion in market capitalization and it is currently the 15th cryptocurrency, according to the ranking prepared by CoinMarketCap.
The market capitalization of a cryptocurrency is the total value of all its units in circulation. It is obtained by multiplying the current price by the number of coins available.
This metric It is used to compare the size of different cryptocurrencies and evaluate their importance in the market.
“Meme-mania” week
From Donald Trump’s victory in the United States electionsa “meme-mania” broke out in the market. In this framework, and as can be seen in the following image, several of the cryptocurrencies with the highest weekly rise are memecoins.
As CriptoNoticias already reported, this rise was driven after Trump confirmed that he will create the Department of Government Efficiency, whose acronym forms DOGEthe same as the ticker of the dogecoin meme cryptocurrency.
Coincident or not, that area would be led by Elon Musk, CEO of Tesla, along with politician Vivek Ramaswamy.
The relationship between Musk and DOGE defies all financial logic. Every time the businessman talks about the memecoin that pays tribute to a viral Internet dog, its price shoots up.
The big question that arises now is whether “meme-mania” is here to stay or is it a merely passing issue.
