- The cryptocurrency market continues to struggle, with a global market value of around $2.26 trillion and a trading volume that can’t surpass $72 billion.
- This downward trend has dampened investor sentiment, pushing the fear and greed index towards the neutral zone.
- However, amidst the gloom, a few cryptocurrencies have managed to reverse the trend and gain value, with four coins, including PEPE coin, drawing attention with their rises.
Despite a struggling crypto market, PEPE coin and three others are on the rise, even reaching all-time highs. This article explores these surprising trends and their potential implications.
PEPE Coin Leads the Pack
Leading the group is the meme coin PEPE, which features an iconic frog image. PEPE recently reached its all-time high and is currently trading at $0.000011156, just a hair’s breadth from the peak. This represents a notable 10% increase in the last 24 hours and a staggering 111% increase over the past month. PEPE’s recent rise has propelled it to the forefront of the meme coin scene.
PEPE’s Rapid Growth
Launched on the Ethereum Blockchain in April 2023, PEPE quickly caught the attention of the crypto community. Leading figures in the field expressed their support, and major exchanges like Binance, Coinbase, and OKX readily adopted PEPE, providing trading services. This combination of factors accelerated PEPE’s growth and allowed savvy traders to make significant profits. With a market value approaching $5 billion, it secured third place, trailing giants Shiba Inu (SHIB) with $14 billion and Dogecoin (DOGE) with $21 billion.
Keep an Eye on W, GME, and AR!
Wormhole (W), a bridge facilitating communication between different Blockchains, also witnessed a healthy increase. W is currently at $0.544, reflecting a 4.6% daily gain. Gamestop (GME), which became popular with the return of Roaring Kitty during the GameStop events, is the real breakout star of this group. GME showed an incredible 3183% increase in just seven days and continues to climb with a 55% increase in the last 24 hours, meaning its current trading price is $0.01719.
Decentralized Storage Network Arweave (AR) on the Rise
At the end of the list is the decentralized storage network Arweave (AR). AR has been on an upward trend for days, with a daily 5% increase pushing its price to $41.25. This momentum is reflected in the weekly and monthly charts; AR shows increases of 8% and 46% respectively. These success stories underline the profit potential even in a stagnant market. However, it’s crucial to be aware of the inherent risks. Meme coins are by nature highly volatile. While PEPE’s rapid rise has received significant support from major figures and exchanges, its future course remains uncertain.
Conclusion
In a struggling crypto market, PEPE coin and three others have managed to rise, with PEPE even reaching an all-time high. This underlines the potential for profit even in a stagnant market. However, the inherent volatility of meme coins like PEPE means that future trends remain uncertain. Investors should always be aware of the risks involved in cryptocurrency trading.
