The frog-themed Cryptocurrency Pepe (CRYPTO:PEPE) was one of the most successful meme coins of the last week, surpassing the others due to its performance.
What happened
The cryptocurrency based on Ethereum (CRYPTO:ETH) soared more than 27% this week, becoming the best-performing meme coin on the market with a valuation of over $2 billion.
In doing so, it outperformed high-quality tokens like Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB), which expanded by only 3.51% and 4.80%, respectively.
Last week, the cryptocurrency was listed on Binance.USthe American subsidiary of the cryptocurrency trading colossus Binance (CRYPTO:BNB). This followed its listing on other leading US trading platforms such as Coinbase and Robinhood last month.
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This $11 billion capitalization cryptocurrency has benefited from a broader market rally that has led to Bitcoin (CRYPTO:BTC), the world’s largest cryptocurrency, beyond the $100,000 milestone.
PEPE has soared more than 150% in the past month as the cryptocurrency space pinned high hopes on the US president-elect. donald trump to support the growth of the industry with friendly policies.
In the last 24 hours, the total balance held by long-term PEPE holders increased by 4.4%, according to data from IntoTheBlock. An increase in accumulation usually indicates bullish sentiment.
PEPE price movement
At the time of writing, PEPE was trading at $0.00002645, up 0.87% over the past 24 hours, according to data from Benzinga Pro.
Photo courtesy of CUBUK/Shutterstock.com
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