Meme Coins Rocketing Again, Pepe (PEPE) Rallies 7500x in Few Days

Meme coins, i.e., joke cryptocurrencies with zero utility backed by semi-ironic community-driven narratives, are ready to steal all the headlines again. Analysts noticed some coins that are in the spotlight for the global "dog-coins" community.

"Most memeable memecoin" PEPE prints unmatched rally

Novel meme cryptocurrency Pepe (PEPE), which uses the "Pepe The Frog" character as its mascot, rallied by 7,500x in a few hours. Cryptocurrency researchers from the Arkham team tracked the story of its largest potential whale.

gm - it appears to have been memecoin season over the past couple of days.

This account 0x8e5 bought 1.827T "PEPE" over the weekend for $20, a position which is now worth well over $150K.

I'm sure he would have been very pleased, if he hadn't sold it all 8 hours later 😭 pic.twitter.com/skFkkBVAOj

— Arkham (@ArkhamIntel) April 18, 2023

The single Ethereum (ETH) account purchased 1.82 trillion PEPE for just $20. This stake is a significant share of PEPE's net circulating supply. In two days, the price of this allocation spiked over $150,000.

As such, the obscure cryptocurrency only available in four Uniswap (UNI) pools registered an almost 7,500x price upsurge in no time. Unfortunately, the "whale" spotted by Arkham sold it too early.

As of today, PEPE continues its breath-taking rally. The token is up by 50% in the last 24 hours. Its trading volume exceeds $40 million; CoinGecko and CoinMarketCap have started tracking its performance.

More liquidity for new generation of DOGE and SHIB

PEPE is not the only meme-themed cryptocurrency gaining traction in mid-April 2023. For instance, ArbDoge AI (AIDOGE) token, which does not want to be called a meme coin, spiked by over 100% in the last 24 hours.

New Listing on #Huobi$AIDOGE @ArbDogeAI

Deposits open now
Trading goes live soonhttps://t.co/ZOmrN05gwa#newlisting pic.twitter.com/RDZo3ubp0q

— Huobi (@HuobiGlobal) April 18, 2023

Unlike PEPE, it scored a number of major listings on top exchanges: Huobi opened deposits and is going to start trading for this crypto. The token leverages three powerful narratives of 2023 as it is built on Arbitrum (ARB), uses Doge stylistics and is described as an "AI-generated" product.

Also, MTG token based on BNB Chain spiked by 100% overnight. It is listed by Gate.io and is available on BSC-based DEX PancakeSwap (CAKE).