PEPE Coin Sees 23% Price Surge Before Sharp Correction

bizmin

Pepe Coin (PEPE), a meme-inspired cryptocurrency, has recently made waves in the market with significant price movements.

Previously, PEPE was priced at $0.00001170, marking a 23.22% increase over the past month. However, as of Friday evening, the coin has experienced a sharp correction, dropping by 5% within the last 24 hours to $0.00001004, mirroring the downturn seen across the broader crypto market.

This surge can be attributed to several factors, including the launch of Ethereum Spot ETFs in the U.S. following SEC approval. Given that PEPE is issued on the Ethereum blockchain, which has Ether (ETH) as its native cryptocurrency, this development has had a positive impact on its price.

Additionally, the involvement of major firms like BlackRock and Fidelity in the crypto ETF space has further legitimized the market, drawing increased investor interest toward Ethereum and PEPE. Support from influential figures like Larry Fink of BlackRock has also contributed to this momentum.

Despite the impressive rise in PEPE’s value, it’s essential to avoid jumping to conclusions about its long-term potential, especially amid speculative claims that it could reach $1 in the near future.

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