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Memecoins market cap hits $26.5B on PepeCoin-led revival

source-logo  invezz.com  + 2 more 28 February 2024 09:29, UTC

The top 100 memecoins have recorded impressive price actions lately, pushing their combined market cap to $26.5 billion, following significant 24-hour recoveries. The metric stood at $26,460, 338,262 billion during this publication.

Source – Coinmarketcap

Also, the asset class saw its trading volume jump by nearly 130% to $6,055,069,436, indicating heightened investor activity and interest in meme cryptocurrencies.

PepeCoin steals the show

PEPE has dominated trends recently due to its bullish performance. The altcoin led today’s crypto gainers as it soared 32% over the past day to press time levels of $0.000002684. PepeCoin yielded over 145% returns for its investors within the past week.

PEPE 7D Chart on Coinmarketcap

PEPE trades at value areas not seen since May last year. The remarkable performance has seen the altcoin climbing to 73rd in the overall crypto list, with $1.164 billion in market cap.

PepeCoin investors cashing out profits

Etherscan data shows some PEPE holders have taken the ongoing price surge as a chance to enjoy profits. States show six wallets sold $4.37 million worth of PepeCoin (1.98 trillion coins) on Binance to realize profits.

The price of $PEPE has surged by over 60% today!

Six wallets sold 1.98 trillion $PEPE ($4.37 million) to secure profits, resulting in a total profit of approximately $2 million.

The wallet "0xa145" deposited 486.72 billion $PEPE ($1.04 million) to #Binance six hours ago,… pic.twitter.com/P5BSewtnlr

— Ayden (@aydennolanai) February 27, 2024

One wallet deposited $1.04 million in PEPE to the exchange six hours ago and realized around $515,000 in profits. Meanwhile, the remaining five sent PepeCoin worth $3.3 million to Binance and accumulated $1.49 million in returns.

Other dog-themed digital coins recorded significant gains over the past day. Floki, Dogwifhat, and Memecoin jumped 20%, 28%, and 8%, respectively. Also, the sector’s top token, Dogecoin (DOGE), soared 5.99% within the previous 24 hours.

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