Pepe Power! Meme Coin Surges On Back Of GameStop Nostalgia

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	456,848,783,051	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

456,848,783,051

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-32.47	-0.85%	3,807.81	3,807.52	3,807.77

Price Change

Price Change %

Current Price

Bid Price

Offer

-32.47

-0.85%

3,807.81

3,807.52

3,807.77

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,884.24	3,778.50	3,841.94	3,840.28	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,884.24

3,778.50

3,841.94

3,840.28

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:17:40	0.001300	3,807.81	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:17:40

0.001300

3,807.81

USD

Price x Volume	Volume	Base Symbol	Related Pairs
133,834,754.25	34,838.66	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

133,834,754.25

34,838.66

Pepe Power! Meme Coin Surges On Back Of GameStop Nostalgia

15/05/2024 9:34am

NEWSBTC

The internet’s resident amphibian is back in the spotlight, but this time Pepe the Frog isn’t gracing troll forums – he’s maneuvering his way to the top of the cryptocurrency charts. PEPE, the meme coin named after the internet legend, is experiencing a historic surge, fueled by a potent mix of nostalgia and retail investor fervor. Related Reading: On A Tear: Toncoin Outshines Bitcoin With Price Surge And Social Buzz From Backwater To Bullfrog: PEPE’s Rise PEPE’s recent ascent is nothing short of meteoric. Trading volume has skyrocketed by an impressive 300% in the past 24 hours, with the price reaching an all-time high. This dramatic rise coincides with a resurgence in Gamestop (GME) stock, leading many to believe that the retail investor army of 2021 is back for round two, armed with meme coins as their weapon of choice. The return of Keith Gill, better known online as “Roaring Kitty,” has acted as a rallying cry for these digital warriors. Gill’s surprise post on his dormant Reddit account sent shockwaves through the market, reigniting the nostalgic flames of the original Gamestop saga. Analysts suggest this nostalgia has spilled over into the crypto market, sparking a full-blown meme coin craze. PEPE, already experiencing a steady climb since mid-April, has emerged as the unlikely champion of this digital meme menagerie. Whales Take A Dip In The Pepe Pond It’s not just the small-time investors driving the PEPE surge. Big money, or “whales” in crypto speak, are also diving headfirst into the frenzy. On-chain data reveals a whale recently splashing out a cool 1.86 million USDC for a whopping 195 billion PEPE tokens. Another whale scooped up a hefty 406 million PEPE, further propelling the price upwards. This guy spent 1.86M $USDC to buy 195B $PEPE 12 hours ago and has now made an unrealized profit of $236K.https://t.co/TSngBKN2yC pic.twitter.com/Oszxx3nIO2 — Lookonchain (@lookonchain) May 14, 2024 But Is It All Golden Memes And Rainbows? While PEPE’s current trajectory is a dream come true for early adopters, a cautionary tale lurks beneath the frothy surface. Meme coins are notorious for their wild volatility. Their value is often built on hype and fleeting internet trends, not robust financial fundamentals. This means a sudden shift in sentiment could trigger a dramatic price crash, leaving investors holding the Pepe bag. Related Reading: Bullish On Ethereum: Analyst Predicts Crypto’s Imminent Takeoff Furthermore, PEPE is a relatively new player in the crypto game, with an uncertain future. Unlike established cryptocurrencies, PEPE lacks a proven track record. Its long-term viability remains a question mark. Featured image from @GameStopPepe/X, chart from TradingView

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