- PEPE’s value surged by 14% as interest in meme coins increased, with Floki and Shiba Inu among the biggest gainers
- The price of Pepe jumped after Arthur Hayes withdrew $250,000 in PEPE from Binance
- Hayes is also promoting Mother Iggy (MOTHER) and Mog Coin (MOG)
Pepe’s (PEPE) price soared over 14% within 24 hours, responding positively to a significant investment from Arthur Hayes, former BitMEX CEO.
This increase follows recent ups for PEPE along with dogwifhat and Sei.
As of now, the frog-themed meme coin is priced at $0.00001047, after eliminating one zero and reaching intraday highs of $0.00001071. Pepe’s trading volume surged by 34% to exceed $1.3 billion.
These gains closely follow Bitcoin’s climb to $65k, with other major altcoins attempting to replicate the trend, placing PEPE among the day’s top gainers within the top 100 by market capitalization.
Pepe’s market capitalization reached $4.4 billion, gaining 14% in the last 24 hours. Among the largest coins by market cap, PEPE ranked just behind Wormhole (W), which increased by 17% to $0.32.
Floki (FLOKI), another prominent meme coin, also rose by 14%, and Shiba Inu (SHIB) outpaced many altcoins with a 13% increase in the past day.
PEPE’s Value Surges Due to Bullish Bets by Arthur Hayes
The meme coin sector is vibrant, with Solana-based baby hippo meme Moo Deng (MOODENG) outperforming all top 500 coins by market cap. However, many other meme coins are also observing solid gains as traders anticipate further upward momentum.
Crypto analyst Rekt Capital noted that PEPE has broken its downtrend with the recent price rally.
PEPE has also ended its multi-month downtrend#PEPE #crypto #BTC https://t.co/HXzveqvwN8 pic.twitter.com/bF1Df1rcAK
— Rekt Capital (@rektcapital) September 27, 2024
PEPE has piqued Hayes’ interest, who has recently upped his bullish stance on Aethir (ATH), a decentralized cloud infrastructure platform for gaming and AI.
In addition to boosting his ATH investment with an extra $1.5 million on Friday, Hayes purchased $250,000 worth of PEPE. The investor acquired these meme coins via the Binance crypto exchange.
Besides PEPE, Hayes has also recently mentioned Mother Iggy (MOTHER) and Mog Coin (MOG).
It’s time for a memecoin breakout. I respect my $MOTHER, I $MOG adore, but I can’t ignore $PEPE.
Yachtzee Bitches!😘😘😘😘😘😘
— Arthur Hayes (@CryptoHayes) September 27, 2024
