Pepe Coin PEPE/USD has witnessed a surge of 16% in the past 24 hours, surpassing meme coins with higher market capitalization like Dogecoin DOGE/USD and Shiba Inu SHIB/USD.
What Happened: While the overall cryptocurrency market turned green due to the recent announcement of crypto initiatives by financial services institutions, a few developments in particular seem to have worked in favor of Pepe Coin.
Deutsche Bank, a banking giant, said on Tuesday that it had applied for a license for digital asset custody in Germany.
Additionally, EDX Markets, a crypto exchange that has been endorsed by financial industry players including Charles Schwab, Citadel Securities, and Fidelity Digital Assets, commenced trading of Bitcoin BTC/USD and Ethereum ETH/USD on the same day.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: According to CoinMarketCap, Pepe Coin stands at the 86th position with a market cap of $429 million.
As of Wednesday, Etherscan data shows that the token has 119,602 unique addresses holding it, indicating a rise in the number of token holders from early June.
Pepe Coin has been inspired by the Pepe the Frog meme created by Matt Furie in 2005.
Price Action: At the time of writing, PEPE was trading at $0.000001095, up 16.50 % in the last 24 hours, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
