Pepecoin Becomes Biggest Meme Coin Gainer With 70% Weekly Jump
The tokens racked up $800 million in trading volumes over the past 24 hours, data shows.
Pepecoin (PEPE) surged as much as 40% in the past 24 hours to extend weekly gains to over 70% amid a market-wide rally led by bitcoin (BTC).
Trading volumes for the frog-themed tokens jumped to over $800 million, CoinGecko data shows, as a risk-on environment likely fueled outsized bets on riskier assets, such as altcoins and meme coins.
PEPE gains were significantly higher than meme tokens shiba inu (SHIB), floki (FLOKI) and dogecoin (DOGE) – even as developers of some of these tokens – suggesting high buying interest for pepecoin.
Futures contracts tracking PEPE had more than . Potentially, this may have contributed to the price spike as short positions – or bets that the price of PEPE would fall – were settled. Only bitcoin (BTC) and ether (ETH) futures liquidations have been greater.
Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).
Large liquidations can signal a top or bottom of a steep price move, which may allow traders to position themselves accordingly.
As such, in perpetual futures tied to PEPE futures remain negative, indicating the dominance of bearish positions in the derivatives market. A negative funding rate indicates that shorts are dominant and are willing to pay longs to keep their bearish bets open.
Bitcoin crossed the $30,000 mark on Wednesday amid a flurry of Bitcoin ETF filings by traditional finance players in the U.S., which likely spurred bullish sentiment among traders and led to a market-wide rally.
Edited by Aoyon Ashraf.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Updates: Institutional ETF Investments Indicate Ethereum's Rise to $3,200
- Ethereum (ETH) eyes $3,200 rebound as stablecoin yields decline and market dynamics shift, supported by Santiment’s analysis of 3.9-4.5% lending rates indicating non-overheated conditions. - ETH ETF inflows reversed after three weeks, with BlackRock’s ETHA fund driving $88.22M entry amid post-October price dips and regulatory clarity improvements. - Technical indicators like the ETH-BTC "bullish ribbon flip" and Crypto Fear & Greed Index moving from "extreme fear" to "fear" signal cautious optimism and r
Securitize Gains EU License, Connecting Blockchain Finance Between the U.S. and Europe
- Securitize secures EU regulatory approval to operate blockchain-based trading/settlement systems, becoming the first firm licensed in both EU and US for digital securities infrastructure. - The Avalanche-powered platform enables sub-second settlements across 27 EU states, supporting tokenized equities, debt, and funds while bridging U.S.-EU capital markets. - This milestone validates blockchain's role in institutional finance, with AVAX surging past $15 as Avalanche's institutional-grade infrastructure g
Ethereum News Update: Institutional Investors Acquire 3% of Ethereum’s Total Supply While Valuation Models Indicate a 57% Undervaluation
- Ethereum price holds above $2,900 amid $96.67M net inflows into U.S. spot ETFs, led by BlackRock’s $92.6M contribution ending an eight-day outflow streak. - Institutional buyers like BitMine added 69,822 ETH ($200M), now holding 3% of total supply, while adopting "dip-buying" strategies aligned with Tom Lee’s "supercycle" thesis. - Valuation models estimate Ethereum’s fair value at $4,747 (56.9% undervalued), with DCF and Metcalfe’s Law models suggesting 200-217% undervaluation despite mixed P/E signals.
Hyperliquid News Today: Hyperliquid's HYPE Token Unlock: Will Clearer Governance Mitigate the Threat of Selling Pressure?
- Hyperliquid's 2025 HYPE token unlock (2.66% supply) sparks market stability concerns amid 23% monthly price drop. - Community tensions rise over unlock transparency, with experts warning verbal assurances cannot counter sell-pressure risks. - Weak technical indicators (34 RSI, $35.50 support level) highlight fragility despite $259B monthly trading volume. - Institutional partnerships (BlackRock, Stripe) bolster credibility but governance controversies persist over decentralization. - Future trajectory de
Trending news
MoreCrypto prices
More
