Pepe (PEPE): A Standout in the Memecoin Market Downturn

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by Giorgi Kostiuk

2 years ago

Amid today's lackluster market, some meme coin categories such as Pepe (PEPE) are showcasing remarkable growth. This pioneering frog-coin finishes the week with significant gains.

Pepe (PEPE) Becomes a Leader

In the last 24 hours, Pepe (PEPE), one of the most popular multi-chain meme cryptocurrencies, saw its price drop from $0.00000730 to $0.000007. This makes it the only meme coin in the red among the top 100 cryptocurrencies for the day. However, over the last seven days, Pepe (PEPE) price surged by over 6%, positioning it as the seventh fastest-growing altcoin in the top 100, outperforming all competitors in the meme coin segment.

Dogecoin (DOGE) Segment Apathy

Dogecoin (DOGE), with its nearly 10% weekly losses, is yet again in the spotlight for memecoiners. As previously covered by U.Today, a 'death cross' was registered this week for DOGE. The majority of indicators suggest potential worsening for DOGE bulls. Falling below $0.15, the coin erased all gains since mid-October 2024 and was displaced by Cardano (ADA) as the eighth largest altcoin by market cap.

General Market Overview

In the current market scenario, the index is down by 0.2%, while Bitcoin (BTC) rose by 0.9% and Ethereum (ETH) added 1.2% amid decreasing trading volumes. In the last 24 hours, $163 million worth of cryptocurrency positions were liquidated, with over 66% being short positions opened by bears.

Despite the overall decline in meme coins, Pepe (PEPE) remains at the forefront with its significant weekly growth. Meanwhile, Dogecoin (DOGE) faces pessimism and loses positions amid the 'death cross'.

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