The all-time high (ATH) for PEPE was $0.058518 in the early hours of this morning UTC.
As of this writing, the third-largest meme coin by market value is trading for $0.057456, having since declined by almost 15%.
PEPE has experienced a historic month. The last thirty days saw a 723.7% increase.
The last week added 533.1% to these gains, while the final seven days saw a 248.3% increase in price. These gains were distributed over the entire month.
Shiba Inu (SHIB) was the only other meme currency among the top seven in terms of market value to have experienced a stronger rally over the past seven days. Shib surged 281.1% to close at $0.00003991 at the moment.
In general, the market as a whole saw a surge this month, which supported the meme coin rally.
In the past 30 days, Ethereum has increased 61% while Bitcoin has up 56%.
The fact that meme coins were experiencing a significant surge in value suggests how well-liked cryptocurrencies are becoming once again, as investors are starting to take on more risk and invest in tokens that have little to no practical use other than serving as hypothetical stores of value.
PEPE’s chart over the last three months indicates that the end of February marked the start of the spectacular price activity.
Since then, there have been numerous upward cup-and-handle formations, which suggest a very bullish cycle of buying interspersed with times of market correction.
With a Relative Strength Index (RSI) of 53, PEPE indicates that the market has fairly priced in its value at this time.
Additionally, it implies that more rallies may be possible as long as Ethereum and Bitcoin are able to maintain public demand in the wake of the impending Ethereum ETF industry milestone and Bitcoin halving.
Look Into Sponge While Everyone FOMOs PEPE’s ATH!
It’s fair to wonder if meme coins are worthwhile investments given the tantalizing rises that have occurred throughout the month. Already very speculative, cryptocurrency can also be very volatile.
The quick answer is that due diligence is a must for every investment.
Purchasing tokens on the blockchain holds similar promises to purchasing stock in a corporation. Each investor must ensure that the initiative they are supporting is worthwhile or beneficial.
Meme coins, however, frequently have little worth outside from their cultural capital, which fluctuates in tandem with the underlying meme’s level of popularity.
The sole reasons Dogecoin (DOGE) is a classic are its unique features and early advantage. Both as a commercially significant blockchain and as a store of value, Ethereum pales in comparison to Bitcoin. It is mostly dependent on its brand.
Sponge is one token that provides more than just giggles. Not only is it the newest and trendiest meme coin, but it also supports a useful ecosystem.
Ethereum was used to produce the ERC-2o standard token SPONGE. It recently moved to a V2 on Polygon, an Ethereum Layer 2 scaling solution, after being improved.
Alongside the update, the team unveiled a few significant enhancements, such as a new staking scheme that provides a minimum yield of 40% APY.
At the moment, this yield is approximately 623%. The amount varies according on how many tokens are locked up and how many stakers there are.
In a future racing game, players compete with one another to win SPONGE rewards. The game is powered by SPONGE.
Notice: Nothing in this content should be construed as financial advice; it is merely informative. The ideas stated in this article are those of the author and may not necessarily represent those of Vikunews.in . It is recommended that readers conduct extensive research before to making any investing decisions. Any financial losses are not the responsibility of vikunews.in