🌎 Pepe Coin Hits New Record High Amid Market Uptrend

Pepe Coin Hits New All-Time High, Surpassing $0.00002678 Amidst Market Uptrend

The Pepe Coin, a frog-themed cryptocurrency, has surged to a new all-time high in the last 24 hours, outshining a majority of the altcoins and top meme coins in the market. As the third-largest meme coin, Pepe Coin’s price has spiked to $0.00002678, marking a significant increase.

Market Performance and Price Surge

Compared to the overall performance of the crypto market, Pepe Coin has seen its price rise by over 20% in the last seven days and over 130% in the last 30 days. This surge has also led to Pepe breaching the $11 billion market cap.

So, what’s behind the sudden price pump? Several factors could be contributing to this increase.

Possible Reasons for the Price Surge

One possible reason is the recent price performance of Ethereum. ETH reclaimed the $4,000 level on December 6, a milestone that was last seen in March. This breach has aided the Ethereum ecosystem tokens, including Pepe Coin.

Another factor is the open interest of PEPE, which has reached a new high of $356.79 million. This metric has seen a 30% hike in the last 24 hours.

Holder Metrics and Market Sentiment

According to recent data, 98% of Pepe holders are now making money at the current price, with 0% of the holders in losses. Approximately 25% of the holders have held Pepe for over a year, and 53% have held it for a period of one to 12 months.

Other Ethereum-based meme coins, such as Shiba Inu, have also seen a modest gain of close to 3%.