Popular meme coin Pepe surged 118% over the past two days to hit a 10-month high on Feb. 27. The meme coin was trading at $0.0000026, up 58% over 24 hours, as of press time. The token hit a high of $0.0000029 before giving up some of the gains over the last two hours, based on CryptoSlate data.
Pepe’s market cap currently stands above $1 billion, with a 24-hour trading volume of $1.38 billion — up 480% over the past day. Meme coins are one of the top sectors on CryptoSlate today, showing 11.8% in 24 hours and 16.91% in weekly gains. Bitcoin’s recent rally has benefitted Pepe and led to increased interest and investment in other meme coins, indicating a renewed enthusiasm for these niche digital assets. Popular meme coin Floki Inu (FLOKI) and recently launched Dogwifhat (WIF) were up over 30% over the past 24 hours, with the latter surging almost 60% before a retracement. GROK and LADYS also recorded gains of 22% and 19.9% over the past day, while other small-cap meme coins like Akita Inu and SNEK also posted similar gains.
Meanwhile, the original meme coin DOGE was up roughly 12% over the same period, while SHIB and BONK followed close behind with an approximately 10% rise. Google trends data shows that retail interest in crypto is resurging, with crypto-related searches up more than 200% across the board. The resurging interest is bolstered by the introduction of institutional money in the industry through the recent launch of spot Bitcoin ETFs by TradFi giants like BlackRock.
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