PEPE Coin Soars 30%, Hits Record as Meme Crypto Rallies

• PEPE meme cryptocurrency surges 30%, reaching $0.00001128 peak.
• Investor profits $13.67 million from PEPE in three months.
• “Roaring Kitty” return sparks meme coin market rally, including PEPE.

The meme cryptocurrency themed around frogs, PEPE , experienced significant growth this week, with its value increasing by over 30%, reaching a record peak yesterday at $0.00001128. The coin has drawn considerable attention as its price has jumped by nearly 109% over the previous month and by an impressive 901% over the last six months. Both investors and market analysts view the meme coin optimistically and set ambitious goals for its future.

Meme cryptocurrencies have generally been experiencing a downward trend for an extended period, but PEPE bucked this trend yesterday with a notable price increase, achieving double-digit percentage gains. This unexpected spike has led to heightened expectations for the coin’s future market performance.

Additionally, large-scale investors, or “whales,” have profited handsomely from PEPE; one such investor earned a profit of $13.67 million from the coin in three months. This whale invested approximately $1.56 million to acquire 1.40 trillion PEPE and then, about 14 hours ago, sold 140.4 billion PEPE for 1.57 million DAI at PEPE’s new peak value. Despite this substantial sale, the whale still possesses 1.26 trillion PEPE, currently valued at $13.7 million.

Since March, PEPE has faced challenges breaking through the resistance level at $0.00000900. Nonetheless, the coin’s value has been on a rising trajectory since mid-April.

As of this writing, PEPE’s price stands at $0.00001103, reflecting a 6.75% increase within a single day. The coin has also seen a notable increase in trading volume, which has sparked further interest from investors and heightened engagement in the meme coin market.

Is the Recent Re-entry Influencing the Price Increase?

The resurgence of Keith Gill, also known as “Roaring Kitty,” who had been inactive in the meme coin space since June 2021 and re-entered on May 13, 2024, appears to coincide with PEPE’s strong performance. His return seems to have catalyzed the meme coin market, with PEPE being among those reaping the benefits.

Roaring Kitty’s comeback is believed to have triggered the rally in meme coins, with the Solana-based GameStop meme cryptocurrency (GME) climbing over 350% and the AMC token soaring by 900%. Other meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have also seen increases, as reported by CoinGecko.