Meme Coin PEPE Marketcap Surges To $1bn
By Kapil Rajyaguru
Pepecoin (PEPE), the new token based on “pepe the frog” meme, has reached a $1 billion market capitalization after it debuted last month. The token has gained 70% over the past 24 hours, reaching an all-time high, according to data from CoinGecko.
The PEPE rally has spurred increased trading activity in other meme tokens on decentralized exchanges, according to data from IntoTheBlock. For instance, WOJAK and PEEPO have climbed more than 600% in a week. Longer-standing meme tokens such as dogecoin (DOGE) and shiba inu (SHIB) have not witnessed the same price movement, both trading in the red on the week.
The U.S. added 253,000 jobs in April, up from a downwardly revised 165,000 in March and ahead of economist forecasts for 180,000, according to a report from the Bureau of Labor Statistics (BLS).
The unemployment rate was 3.4%, down from 3.5% in March and against expectations for 3.6%.
Bitcoin’s price failed to produce any meaningful results in the past 24 hours and remains where it was back then – at $29500. However, Ether, the second largest virtual currency, was up by 4.43% in the last twenty four hours and was trading around $1980.
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