{"id":177438,"date":"2023-06-24T01:39:06","date_gmt":"2023-06-24T01:39:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=177438"},"modified":"2023-06-24T01:39:06","modified_gmt":"2023-06-24T01:39:06","slug":"pepe-coin-skyrockets-70-in-a-week-as-whales-join-the-meme-party","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/pepe-coin-skyrockets-70-in-a-week-as-whales-join-the-meme-party\/","title":{"rendered":"$PEPE Coin Skyrockets 70% in a Week as Whales Join the Meme Party"},"content":{"rendered":"<p>The price of the meme-inspired cryptocurrency $PEPE has surged by nearly 70% over the past week, with its dramatic ascent seemingly having been fueled by cryptocurrency whales \u201cheavily engaging\u201d with the cryptocurrency as it rises.<\/p>\n<p>According to on-chain analytics firm Santiment, the cryptocurrency saw a 61% pump in just 48 hours at a time in which it started seeing the \u201cmost $100,000+ whale transactions\u201d and volume on its network over the last six weeks.<\/p>\n<p>The cryptocurrency\u2019s price rise has seen it outperform rival meme tokens Dogecoin ($DOGE) and Shiba Inu ($SHIB) amid a wider crypto market recovery. Cryptocurrency prices started rising after financial giants submitted applications for spot Bitcoin exchange-traded funds (ETFs).\u00a0<\/p>\n<p>These institutions include the world\u2019s largest asset manager, BlackRock, and $1.5 trillion asset manager Invesco and $85 billion asset manager WisdomTree. Moreover, Germany\u2019s largest banking institution Deutsche Bank has reportedly submitted an application for a digital asset custody license to the Federal Financial Supervisory Authority (BaFin), the nation\u2019s financial watchdog.<\/p>\n<p>PEPE\u2019s price rise has seen the cryptocurrency\u2019s market capitalization surpass the $500 million mark, making it the 64<sup>th<\/sup> largest cryptocurrency yby that metric, ahead of Bitcoin SV ($BSV) and behind Neo ($NEO).<\/p>\n<p>PEPE, as CryptoGlobe reported, is a hot meme coin inspired by the infamous meme and cartoon character\u00a0Pepe the Frog, and was introduced to the market on April 17, 2023. Despite warnings about the contract owner\u2019s potential ability to modify transaction taxes and blacklist functions, PEPE\u2019s market has seen a remarkable boom.\u00a0It is\u00a0now a top 100 digital asset\u00a0after multiple centralized exchange listings.<\/p>\n<p>Earlier, a\u00a0fortunate cryptocurrency investor has\u00a0seemingly managed to turn an investment of just 0.125 ETH\u00a0in PEPE into a staggering $1.14 million in just a matter of days by buying into it at the right time.<\/p>\n<p><em>Featured image via\u00a0Unsplash.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2023\/06\/pepe-coin-skyrockets-70-in-a-week-as-whales-join-the-meme-party\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of the meme-inspired cryptocurrency $PEPE<\/p>\n","protected":false},"author":3,"featured_media":177437,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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