thenewscrypto.com
- $PEPE Coin has surged over 30%, reaching a new all-time high of $0.00001422.
- BlockTower Capital sold 202 billion $PEPE tokens for $2.8 million to Cumberland, making a 26% profit within six days.
In the latest wave of consolidation within the global crypto market, memecoins are once again driving significant gains. Leading this surge is $PEPE, which has achieved a remarkable rise of over 30%, reaching a new all-time high above $0.000014 in the early hours of trading.
As Ethereum (ETH) demonstrates increased strength, Ethereum-based memecoins, $PEPE and $FLOKI are following suit, with $PEPE edging closer to the top 20 tokens, with a market cap of nearly $5.6 billion.
This surge followed reports that the U.S. Securities and Exchange Commission (SEC) had requested at least three securities exchanges to revise their applications to list spot Ethereum ETFs.
$PEPE and $FLOKI Lead the Rally
$PEPE has consistently shown strong performance since the start of the month and has become one of the most traded assets on Binance. However, the price of $PEPE has turned to a bullish pattern and is currently trading in an ascending channel pattern.
Notably, BlockTower Capital recently transferred 202 billion $PEPE tokens (valued at $2.8 million) to Cumberland for sale, just two hours after $PEPE’s price crossed $0.000014. This follows BlockTower Capital’s acquisition of the same amount of $PEPE (worth $2.22 million) six days earlier, resulting in a $578,000 profit and a 26% return on investment.
However, after surpassing the $0.00001422 mark, it is on the verge of testing higher targets at $0.00001458. With market sentiment turning bullish, expectations are high for $PEPE to continue its upward momentum, aiming for the next milestone at $0.00001650 and potentially reaching new heights at $0.00002.
Meanwhile, $FLOKI has also broken through a significant resistance phase, moving within a bullish pattern. After a period of ascending consolidation, $FLOKI’s price surpassed the resistance level, experienced a minor retracement to test the new support, and has now begun its ascent toward the next resistance zone between $0.000254 and $0.000266.
$FLOKI has emerged as the top gainer today, with a rally exceeding 15%, when it was outpaced by Bonk (BONK), which saw a trade volume surge of over 20%, securing the sixth spot among top gainers.