PEPE surged 78%, Memecoin's market value exceeded $116 billion
PEPE has been very popular recently. Once listed on several major exchanges, the price has been rising rapidly, setting new highs.
Look, the current trading price of PEPE is $0.00002093, up 15% in 24 hours, and up 104% in the past 7 days. This momentum is simply amazing!
Moreover, PEPE's trading volume has also soared, jumping 124% in 24 hours to $19.6 billion. The market value has also risen, and it briefly hit $10.2 billion on November 14. Although it has fallen back a bit now, it is still $8.8 billion.
Let's analyze why PEPE has risen so sharply?
First of all, several major exchanges have listed PEPE. Robinhood and Coinbase, the two big guys, announced on November 13 that PEPE can be traded. Especially Coinbase, as the third largest exchange in the world in terms of trading volume, once it went online, the price of PEPE went up a level.
In addition, Upbit, the largest exchange in South Korea, also listed PEPE trading pairs, which increased the trading volume of PEPE a lot.
Take a look at the memecoin family, which is also in the red. On November 14, when PEPE rose, other memecoins also rose, and most of them achieved double-digit growth.
What's more impressive is that the total market value of memecoin has exceeded 116.5 billion US dollars, an increase of 111.5% in the past week. This speed is faster than riding a rocket.
In addition, the open interest of PEPE has also increased significantly, from 108 million US dollars on November 5 to 282.2 million US dollars on November 14, which is also a good bullish signal.
The financing rate has also risen, which usually means that futures traders are bullish and expect prices to rise in the future.
So, PEPE is in the limelight these days, and everyone is watching to see if it can reach new highs.
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