Crypto Market Hits $3 Trillion Amid PEPE Frenzy
The cryptocurrency market has reached a milestone of $3 trillion in total capitalization for the first time in eight months. This comes as PEPE, a memecoin, has surged over 15% in 24 hours and nearly 50% in a week.
According to data from BSCN, PEPE's strong performance is part of a broader market move that also saw gains in other tokens such as NEAR, TAO, and PENGU. However, the post did not provide specific figures for these assets' gains.
The combination of a $3 trillion total market capitalization and strong gains among several tokens marks a broad-based move across parts of the crypto market. The PEPE token's nearly 50% weekly increase is notable, especially considering it places its latest rally in a different time frame from the broader market-cap milestone.
The CoinMarketCap Fear and Greed Index was near 80 at the time of the report, indicating strong sentiment surrounding the cryptocurrency market.