PeiPei: A New Ethereum Memecoin Emerges as a Top Gainer, Threatens PEPE\'s Dominance

The Memecoin space has been trending since the start of the year, as new tokens are gaining huge attention soon after their launch

Memecoins have been a hot topic in the crypto world this year, with several new tokens gaining massive attention shortly after their launch.

After tokens like WIF, BONK, and BOME had a successful launch, a new Ethereum memecoin called PeiPei is making headlines.

Memecoins collectively hold a large portion of the $2.15 trillion market capitalization, with an average trading volume of $3 billion to $5 billion. The year began with a significant increase in trading volume, largely due to the popularity of memecoins like Pepe. Following this, FLOKI and the newly launched memecoins like WIF, BONK, BOME & BRETT, among others, experienced a magnificent surge. This surge has paved the way for a new token to gain remarkable strength in a short span of time. A newly launched token, PeiPei, has showcased a similar pattern and is poised to remain elevated for a few more days.

Peipei, an Ethereum-based memecoin, has emerged as a top gainer among the top 500 cryptos in the market. The token’s volume has also seen a steep rise since the beginning of the month, climbing from levels below $100 million to over $220 million in just a week. Furthermore, the token seems to be giving tough competition to the reigning memecoin champion, PEPE.

While PeiPei is up by over 60%, indicating that the token is moving independently of the market, will it manage to replace Pepe as the most popular memecoin or will it follow the same playbook as BRETT?

The chart above compares the performance of all major memecoins to the trending PeiPei token. As evident from the chart, while other tokens have been following a similar, pre-determined trend, PeiPei’s price has demonstrated a monstrous rally. The token’s price dropped below the average range while the rest of them remained largely stable and kicked off a massive upswing and are trading above 150% above the average range.

The PeiPei price formed new highs at $0.0000003484 and is trading just 10% away from these levels. The bulls have regained control of the token following a brief accumulation of strength, and a fresh upswing may resume driving the price above $0.00000035, forming a new ATH.

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