Meme Coin PEPE Defies Expectations with 1.8% Daily Surge
The meme coin PEPE continues to surprise investors with its resilience in a highly volatile market. Launched in April 2023, PEPE's reliance on internet memes as its sole selling point has proven to be a winning strategy.
Despite having no underlying utility and zero apologies for it, PEPE still ranks among the largest meme coins by market capitalization two years after its launch. With a fully diluted valuation of $1.221 billion, PEPE's market cap is substantial enough to command attention from both short-term traders and long-term investors.
The current price of PEPE is around $0.00000292, with a 1.8% increase in the past day. According to on-chain data, short liquidations outpaced longs over the last 24 hours, suggesting that sellers got caught leaning the wrong way as PEPE climbed through the day.