Key Points
- Pepe (PEPE) token surged by 20% in the past 24 hours.
- Meanwhile, Bitcoin is currently struggling above $58k.
As altcoins experience price surges, Bitcoin is currently struggling to remain above $58k, up by about 2% in the past 24 hours, according to CoinMarketCap.
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Bitcoin’s price dropped to its lowest levels in more than two months, as May kicked off. The digital asset dipped to a little above $56,500, ahead of making a comeback above the current level of $58k.
The Bitcoin ecosystem welcomed the ETF products and the Runes Protocol in 2024, and post the halving event that took place on April 20, slashing miner rewards, these are the two new catalysts that could have a say in the coin’s price path forward.
As the price of Bitcoin experiences high volatility these days, the Ethereum-based memecoin PEPE is now the top gainer in CMC’s top 100 list.
Pepe (PEPE) token’s price saw an important move upwards of approximately 20% in the past 24 hours, according to CoinMarketCap. Now, the total market capitalization of PEPE is about $3.14 billion as the coin’s price continues to rise.
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On April 23, Coinbase shared an important message about PEPE, revealing that the exchange made new perpetual futures contracts available on Coinbase advanced.
Coinbase posted that users in eligible jurisdictions (outside the US and UK) could trade 1000PEPE-PERP with up to 10X leverage.
New perpetual futures contracts are now available to trade on Coinbase Advanced.
You can now trade 1000PEPE-PERP with up to 10X leverage. $PEPE
Happy trading to those in eligible jurisdictions (outside the US and UK). pic.twitter.com/uY4CsPyWce
— Coinbase Traders (@coinbasetraders) April 23, 2024
What is PEPE?
Pepe (PEPE) is a deflationary meme coin that’s launched on Ethereum. The crypto has been created as a tribute to the Pepe the Frog meme, created by Matt Furie.
The founders of PEPE remain anonymous.
The project’s main aim is the capitalize on the popularity of meme coins. PEPE token institutes a non-tax policy, and it’s up-front about the lack of utility.
Back in April and May 2023, the token saw a significant price rise, which led to its market cap reaching $1.6 billion.
