Memecoins
Memecoin PeiPei Emerges as Biggest Gainer Among Top 500
PeiPei, an Ethereum-based meme coin, has become the biggest gainer among the top 500 cryptocurrencies.
The asset’s uptrend began following the broader market’s moderate recovery effort following the fall of Bitcoin (Bitcoin) selling pressure. Until now, PeiPei has been a victim of the pressure exerted on the market bloodbathcrashing 43% from its previous all-time high of $0.00000002960 on July 1 to $0.00000001691 on July 6.
PEIPEI Awards – July 10 | Source: Santiment
With the cryptocurrency market on display panels Despite its stability, PeiPei has shown resilience, but has experienced a drought of buying pressure. This has led to a consolidation phase, observed across the market. However, this week has been particularly favorable for PeiPei, after gaining 11.14% on Monday.
The meme coin took advantage of this rebound, climbing 28.23% on July 9 and then rallying again this morning. PeiPei eventually recovered the losses from the recent correction, hitting a new all-time high of $0.00000003230 earlier today.
Despite a sharp correction from that peak, the token held on to a 9.89% gain this morning, with a 42% increase in the last 24 hours. PeiPei’s market cap climbed by a similar margin to $119 million, making it the 300th largest crypto asset. This positions PeiPei as the biggest gainer among the top 500 crypto assets in the market.
Amidst this surge, PeiPei’s social volume has seen a remarkable increase. The token now has secure a spot among the top trending assets on CoinMarketCap, CoinGecko and cryptocurrency exchange Crypto.com. This contributed to a 65.76% rise in 24 hours volume at $190.06 million, indicating increased interest.
Launched in June, the token has seen a remarkable 771% increase in value since then, with a 53.94% increase in the last week alone, currently trading at $0.00000002940.
PeiPei has already secured listing on over 12 centralized exchanges, including MEXC, Bybit, and Gate.io. The project disclosed a partnership with Brazilian UFC fighter Gilbert Burns earlier this month.
Despite his exploits in just one month, the coin meme has yet to solidify its reputation in the crypto scene, with little to no information about its founders and a roadmap that is borderline “vibrant.” As a result, investors are advised to be cautious.