Following a slowdown in the broader crypto market, top crypto assets Bitcoin and Ethereum each rose modestly, between 1.2% and 1.6%, in the past 24 hours. However, the pepe meme token (PEPE) jumped 77% against the US dollar, and its market capitalization ballooned to $141 million, just $24 million below its all-time high valuation. Other major coin assets, including dogecoin and shibu inu, rose 1.2% to 1.4% today, while the baby doge coin saw a 10% rise in during the last day.
As the Meme Coin market declines, Pepe and Babypepe tokens rise in value
THE meme coin market fell 3.1% against the US dollar in the past 24 hours and currently stands at $18.9 billion. On Saturday, eight of the top ten meme coins posted daily gains, with the new crypto asset grandpa (PEPE) open the way. PEPE is up 77% in the past day and is now 513.15% higher than the coin’s all-time low of $0.000000055142 per unit, which was recorded on April 18.
Although the new PEPE coin is up 77% today, it is still down more than 15% from its all-time high, which was recorded on April 20. On that day, a single PEPE coin was traded for $0.000000399788, and the market capitalization of the token surpassed $165 million. Currently at $0.000000336030 per unit, the meme coin market value is $141 million today. Interestingly, despite being hosted on centralized crypto exchanges, Uniswap v2 is currently the most active exchange for PEPE transactions.
Other notable gainers in the meme coin market on Saturday included the baby doge coin (BABYDOGE), which rose 10%, floki (FLOKI), up 5.5%, and dejitaru tsuka (TSUKA), in up 7.5% against the US dollar. In terms of coin trading volume even on Saturday, Dogecoin (DOGE) led the way with $610 million in the past day, while the shibu inu (SHIB) had a global 24-hour trading volume of $172 million. PEPE ordered the third highest volume of meme coins over the weekend, with $54 million.
PEPE’s gains have seemingly propelled other Pepe the Frog-related crypto assets over the past 24 hours, with zkpepe up 9.9%, by mcpepe jumping 4.1%, and PEPE.bet up 0.7%. Interestingly, according to Coingecko.com measurements, babypepe (BABYPEPE) has seen a 132% increase against the US dollar over the past day. Babypepe is just a few days old, like the new PEPE token, after collecting fiat value on April 18, 2023. While babypepe has over four quadrillion tokens, coingecko.com and coinmarketcap.com do not indicate the market value of the new coin.
What do you think the future holds for Pepe the Frog-related crypto assets, and do you think they will continue to rise in value? Share your opinion in the comments below.
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