Key Takeaways
PEPE reached a brand new all-time excessive on Could 14, with its worth briefly peaking at $0.0000110 earlier than barely dipping;
The return of Keith Gill, aka “Roaring Kitty,” to social media has probably sparked renewed enthusiasm within the memecoin market;
The general memecoin market is bullish, with a notable improve in market capitalization and buying and selling volumes.
Ethereum-based memecoin PEPE hit a file excessive on Could 14, peaking at $0.0000110.
Although it barely dipped to $0.0000109 on the time of writing, market sentiment stays bullish.
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PEPE’s market capitalization has now climbed to $4.5 billion, securing its place because the twenty fifth largest cryptocurrency. That’s accompanied by a 261% surge in buying and selling quantity within the final 24 hours, making PEPE probably the most actively traded memecoin and surpassing Dogecoin (DOGE).
This improve in exercise could also be linked to the reappearance of Keith Gill, a dealer referred to as “Roaring Kitty,” who fueled the 2021 Gamestop quick squeeze. That was an occasion when retail traders drove up the inventory value of online game retailer GameStop, inflicting losses for hedge funds that had shorted the inventory.
Him posting on X for the primary time in three years has sparked hypothesis about one other meme inventory rally. Notably, the Gamestop-inspired memecoin GME noticed its buying and selling quantity soar by 293% up to now 24 hours, rating it the eighth most traded memecoin.
The general memecoin market can be seeing a bullish pattern, with its market capitalization growing by almost 4% to $54.1 billion on the time of writing. Buying and selling volumes throughout the board have soared almost 137% to $10.6 billion.
As this mania grips the market, memecoins can trip the wave of enthusiasm and doubtlessly see important positive aspects sooner or later.
In different associated information, a Solana dealer has not too long ago managed to capitalize on the volatility of meme-themed tokens and secured $23 million in income.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Conflict II period.With near a decade of expertise within the FinTech trade, Aaron understands the entire greatest points and struggles that crypto fanatics face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to particular person for every part and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the area as we all know it, and make it extra approachable to finish rookies.Aaron has been quoted by a number of established retailers, and is a broadcast writer himself. Even throughout his free time, he enjoys researching the market tendencies, and in search of the subsequent supernova.
