Pepe Explodes As Bitcoin Breaks $30,000

Join Our Telegram channel to stay up to date on breaking news coverage

Pepe Coin’s (PEPE) meteoric 40% increase is one of the primary drivers of the current optimistic market trend in cryptocurrencies. This memecoin was one of the strongest performers in the crypto market a few months ago, hitting all-time highs almost daily.

Despite legal obstacles encountered by major exchanges such as Binance and Coinbase as a result of the SEC lawsuit, the cryptocurrency market has shown resilience and made a remarkable recovery, and one of these is the Pepe coin.

Pepe coin surges 40% as the top gainer amid a market-wide rally

The cryptocurrency market has been somewhat positive over the past few days, with Bitcoin surpassing the $30,000 milestone for the second time this year. Pepe (PEPE) has seen its price increase by more than 35% in just 24 hours, significantly outperforming the rest of the cryptocurrency market.

Among the market-wide bounce brought on by a revival of positive feelings, the deflationary frog-based memecoin has emerged as the top gainer. As a result of the SEC’s legal action against major cryptocurrency exchanges Coinbase and Binance, the cryptocurrency market has recently experienced a slump.

Despite this, Bitcoin surpassed $30,000 as bullish traders responded positively to reports of Bitcoin ETF filings. The current recovery was helped along by the fact that investment firm BlackRock applied for a Spot Bitcoin ETF.

JUST IN – $10 trillion BlackRock officially files for spot #Bitcoin ETF pic.twitter.com/RgXxzlzTOY

— Bitcoin Magazine (@BitcoinMagazine) June 15, 2023

These trends have piqued the interest of major financial institutions, which reflects well on the eventual mainstream acceptance and widespread deployment of Bitcoin. Pepe Coin’s price has risen alongside the cryptocurrency market as institutional investors get more excited about Bitcoin and other cryptocurrencies.

PEPE’s sudden skyrockets a temporary surge or a sustainable bull run?

Over the last month, PEPE has shown a nearly 60% correlation with Bitcoin, explaining its recent price spike. However, despite these improvements, 41% of Pepe Coin holders are in losses as of press time. 44% of holdings are profiting, while 15% have broken even. See our guide to the best crypto ICOs to invest in here.

Despite Pepe Coin’s recent surge, its long-term viability must be questioned. Because of the token’s lack of utility and the considerable concentration of large holders, price volatility may be high. PEPE is currently encountering resistance at $0.00000144, with support in the $0.00000122-0.00000145 zones.

If the coin breaches its current resistance level, it may encounter a new barrier at roughly $0.00000174. Pepe Coin is currently trading at $0.000001610 at the time of writing. The market’s progress and Pepe Coin’s fate remain unpredictable, and it remains to be seen whether the memecoin can sustain its current advances.

Given these circumstances, buyers are now focusing on other high-potential memecoins, such as Wall Street Memes, which have shown promising early results. See our guide to the best memecoins to buy here.

Emerging memecoin that also captures the attention of the crypto market

Pepe coin, Shiba Inu coin, and other meme cryptos have all seen short-term price increases as a result of the Bitcoin ETF upgrade. Meanwhile, Wall Street Memes is attracting the attention of investors as it surges to hit the $10 million milestone. See our guide to the best altcoins to buy now here.

The Wall Street Memes token raises $9.3 million: Is it the next Pepe coin?

Wall Street Memes continues to fly through its presale stages as PEPE reaches a resistance level on the charts and uncertainty surrounds its continued bull run. As it approaches the $10 million mark, the platform has now raised more than $9.3 million. See our guide to the best low market cap crypto to buy here.

This new token, created by the same people who created the Wall Street Bulls NFT collection, gives individuals who missed out on the memecoin craze a second chance. Unlike most memecoins that are susceptible to “pump and dump” performance, $WSM stands out with a community of over a million followers across many social platforms.

The excitement surrounding $WSM continues to grow, fueled by rumors of its probable listing on major cryptocurrency exchanges such as Binance. This anticipation is further fueled by high-profile engagement, such as Elon Musk’s interactions with Wall Street Memes’ tweets.

Furthermore, by limiting the supply to 2 billion tokens, $WSM provides a community-focused approach to tokenomics. Half of this amount is reserved for presale buyers, with the remainder going toward ensuring liquidity on exchanges and rewarding users. See our Wall Street Memes price prediction here.

As $WSM rides the memecoin trend, combined with its strong community support, it has caught the interest of many analysts, who forecast it to be the next 100x crypto. To take part in the presale visit wallstmemes.com.