Pepe (PEPE), which directly reacted to the rise in Bitcoin (BTC), has shown a performance of nearly 100% in the past week.
Bitcoin (BTC), which fell below $25,000 last week due to FUD news, created fear in the market and caused a collapse in altcoins. Almost the entire altcoin market experienced a decline of over 20%. However, the consecutive ETF news brought BTC back to $30,800 as of yesterday. The coin that kept up with BTC the fastest in this seven-day period was Pepe (PEPE). PEPE, which went from $0.00000082 to $0.00000157, showed an overall increase of 91%.
After exchange listings, PEPE, which had fallen out of favor, became one of the top-performing coins in the altcoin market with a 24% increase in BTC. This indicates that crypto investors first turn to memecoins in upward trends. Investors looking to make quick gains see the massive volume in memecoins as an opportunity and focus their trades on these types of cryptocurrencies.
PEPE, which has been waiting for its investors for a long time, brought a breath of fresh air to memecoins with its recent price movement. Volatility reached its peak in dozens of coins with PEPE themes introduced to the market. Moreover, PEPE, which is trending on social media platforms, seems to have regained momentum.