PeiPei, an Ethereum-based meme coin, has emerged as the top gainer among the 500 largest cryptocurrencies.
The asset’s uptrend began due to a market recovery effort following a drop in Bitcoin’s (BTC) selling pressure. Previously, PeiPei sank 43% from a $0.00000002960 all-time high on July 1 to $0.00000001691 on July 6.
With the crypto market stabilizing, PeiPei showed resilience despite a drought in buying pressure, leading to a consolidation phase observed market-wide. This week was significant for PeiPei, marking an 11.14% gain on Monday.
The meme coin spiked 28.23% on July 9 and continued rallying today, hitting a new all-time high of $0.00000003230. Despite a sharp correction, the token maintained a 9.89% gain this morning, with a 42% increase over the past 24 hours.
PeiPei’s market cap surged by a similar margin to $119 million, positioning it as the 300th largest crypto asset and the biggest gainer among the top 500 crypto assets in the market. The token’s social volume also increased significantly.
Securing a spot among the top trending assets on CoinMarketCap, CoinGecko, and Crypto.com, PeiPei’s 24-hour volume rose by 65.76% to $190.06 million, indicating heightened interest.
Launched in June, the token has soared 771% in value, with a 53.94% surge in the past week, currently trading at $0.00000002940. PeiPei is listed on over 12 centralized exchanges, including MEXC, Bybit, and Gate.io.
The project partnered with Brazilian UFC fighter Gilbert Burns earlier this month. However, despite these achievements, PeiPei’s founders remain unknown, and its roadmap is vague. Investors are advised to exercise caution.
