Pepe Coin Outperforms Dogecoin, Shiba Inu: Less Than $1 Worth Pepe Coin Can Make You A Meme Coin Millionaire Today

September 14, 2023 1:23 AM | 2 min read

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Pepe Coin (CRYPTO: PEPE) has emerged as the top meme coin performer, surpassing both Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in the past 24 hours. At the time of writing, PEPE was trading at $0.0000006785, registering a growth of 2.01%. SHIB and DOGE, on the other hand, experienced gains of 0.88% and 1.12% respectively.

What Happened: The recent surge in PEPE’s value can be attributed to the overall positive sentiment in the market following the release of inflation Consumer Price Index (CPI) data. According to the Bureau of Labor Statistics, consumer prices witnessed an upward trend, primarily driven by a surge in oil prices.

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In August, the CPI rose by 0.6% compared to the previous month and 3.7% compared to the previous year. These figures exceeded economist forecasts of a 3.6% annual increase.

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Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the two leading cryptocurrencies, also experienced marginal growth of 1% and 1.12% respectively, reflecting the generally positive trend in the market.

With PEPE currently trading at $0.68, achieving millionaire status with PEPE could be possible for a mere $0.68 investment.

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Why It Matters: Data from the market intelligence platform Santiment reveals a significant increase in the amount of PEPE tokens being deposited on exchanges, soaring from 116 billion coins to 950 billion tokens since September 9. Additionally, active deposits of Pepe Coin surged from 73 to 170 transactions at the time of writing.

Nevertheless, Pepe Coin faced challenges in recent weeks. On August 24, the project’s founding team members unilaterally transferred $16 million worth of PEPE tokens to exchanges, leading to concerns within the community about a potential “rug pull scam.” This incident resulted in a 30% decline in the PEPE market.

Adding to the turmoil, Pepe Coin’s accredited Telegram channel was hacked by an anonymous entity known as “lordkeklol” on September 9, as confirmed by the project’s official X (formerly Twitter) handle.

Photo by dCrypto on Shutterstock

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