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Amid the hype around meme coins, cryptocurrency industry experts are noticing a revival of interest in the PEPE token.
After a long decline that lasted from July 14 to October 3, the meme coin stopped its downward trend and entered the accumulation phase. Starting on October 20, PEPE began a bullish uptrend again, outperforming altcoins Shiba Inu SHIB $0.00000544 Shiba Inu 2.46% Market capitalization $3.2 billion VOL. 24 hours $4.13 million and Dogecoin DOGE $0.09 Dogecoin 3.39% Market capitalization $13.81 billion VOL. 24 hours $65.45 million .
As a result, PEPE regained its position in the list of the top 100 cryptocurrencies, ranking 96th. This jump in value was largely influenced by bitcoin BTC $80,106.40 Bitcoin 1.69% Market capitalization $1.61 trillion VOL. 24 hours $1.36 billion , which exceeded the $ 35,000 mark on Tuesday. For many market players, the current upward trend is driven by the anticipation of the approval of a bitcoin exchange-traded fund ETF, which could potentially bring a new wave of capital to the market.
Another important event was the announcement by the meme coin’s development team on the X platform (formerly Twitter) that they had burned 6.9 trillion PEPE tokens for about $ 6 million.
As of October 25, the price of Pepe (PEPE) is $ 0.9, and the 24-hour trading volume is $ 455 million. This means that the digital asset has grown by 25.83% over the past 24 hours and by 43.63% over the past 7 days. Pepe’s market capitalization is currently $ 398 million.
SHIB, in turn, is trading at $ 0.739, and its 24-hour transaction volume is $ 314.6 million. Over the past 24 hours, the price of the coin has increased by 2.72%, and over 7 days — by 6.04%. The market capitalization of Shiba Inu is $ 4.3 billion.
Meanwhile, DOGE is trading at $ 0.65 989 with a 24-hour trading volume of $ 1 billion. Over the past 24 hours, DOGE’s price has increased by 3.02%, and over the past 7 days, it has increased by 11.02%. Dogecoin’s market capitalization is $ 9.3 billion.