Pepe Coin is Soaring 90% in the Last 24 Hours, Here's Why
Pepe Coin (PEPE) is one of the hottest memecoins out on the crypto market today. Since its launch in mid-April 2023, PEPE’s price has skyrocketed by a staggering 638% for the past week. The gains for the past 24 hours alone have hit 90%. The asset’s market capitalization has also skyrocketed to almost $700 million. It’s clear that the Pepe hype isn’t going anywhere, but why exactly is Pepe soaring? Let’s take a look. Why is PEPE Soaring? There are multiple potential reasons behind Pepe Coin’s recent surge. For starters, the market is currently green across most coins and tokens. Bitcoin, ETH, and other altcoins went up shortly after the Federal Reserve announced another increase in interest rates by 25 basis points. Pepe Coin debuted at a very good time, seeing a huge spike post-interest rate level hike. In addition, crypto whales have taken an interest in Pepe, with many whale investors going in on the newest memecoin. A crypto whale recently swapped all their ...