While memecoins have always managed to attract the attention of investors, a big move came from Pepe Coin (PEPE), one of the popular memes.
At this point, according to the data, PEPE has surpassed Uniswap (UNI) and Litecoin (LTC) and is ranked 20th in terms of market capitalization.
Accordingly, PEPE continued its upward momentum, surpassing the $11.37 billion market cap and reaching new highs, leaving Uniswap (UNI) and Litecoin (LTC) behind.
While PEPE has achieved great success, analysts state that this success is due to increased whale activity and increased accessibility through platforms such as MoonPay.
At this point, popular cryptocurrency analyst Ali Martinez said that institutional interest in PEPE has increased, stating that whales increased their PEPE holdings by $1.14 billion over the weekend.
The analyst noted that historically, such accumulation preceded price rallies, and that whales laid the foundation for upward momentum with their accumulation.
It was also stated that PEPE’s integration with MoonPay was behind this rise. Accordingly, MoonPay now allows more than 20 million users in 180 countries to purchase tokens through platforms such as Apple Pay and Venmo.
*This is not investment advice.
