This article was paid for*
The price of popular meme coin Pepe (PEPE) skyrocketed by 18% in the last 24 hours to trade at $0.00001111, with the token’s trading volume rising by 184% to $2.34 billion.
Crypto.com Inspires Traders To Buy Pepe
A likely reason for the surge in Pepe’s price, and especially volume, comes from a post published by the Crypto.com exchange on May 15.
The popular trading platform launched a Pepe app campaign, offering investors a chance to win UFC 303 tickets and a share of $50,000 in PEPE.
To qualify for the event, they must buy or trade at least $50 worth of the frog meme coin to join.
The event will last until May 29, giving investors and traders about a week more to join. Sure enough, the event caused many to buy the meme coin, thus pushing its price up due to increased demand.
A crypto expert behind the YouTube channel TodayTrader, with 11.7k subscribers, said that Pepe is the meme coin leading the surge in this bull run in his recent video.
Roaring Kitty’s Return Is Still Pushing The Prices Up
Pepe’s surge comes amid a wider meme coin surge that has seen most meme-based cryptocurrencies trade in the green on May 21.
The sector saw a surge in interest last week after a legendary trader and investor, Roaring Kitty, returned to the trading world after a 3-year absence.
Roaring Kitty withdrew from the public in 2021, after participating in what is now known as the GameStop short squeeze.
At the time, institutional investors were shorting the stocks of GameStop and several other firms for their own profit, not caring that they would destroy these companies financially along the way.
Roaring Kitty and other amateur investors from a subreddit known as WallStreetBets decided to help the projects through mass stock purchases, which resulted in their prices going up, causing institutions to lose money.
Roaring Kitty’s return caused GameStop’s stock price to surge briefly, but once the meme stock went up, meme coins soon followed.
New Solana Meme Coin Sealana
While Pepe’s price surge is a major opportunity for meme coin investors and traders to make some money, an even greater opportunity may be waiting for them in Solana’s ecosystem.
Last month, Solana’s network saw the start of a new presale of a meme coin called Sealana (SEAL).
As the name suggests, this is a seal-based project that stands out from all the frogs, cats, dogs, and sloths that have been dominating the meme coin sector over the past few months.
The project is humorous and fun, and unlike most modern meme coins, it doesn’t try to compete with others by adding DeFi features such as staking. Instead, Sealana went back to what it means to be a meme coin, offering users a token that is simply there for the fun of it.
While it sounds simple, it might be just what the sector’s participants needed. The Sealana presale started slow, but it blew up a few weeks back and is now sitting at $2.2 million raised, and counting.
Its token, SEAL, sells for $0.022 per unit and can be bought with ETH, USDT, BNB, SOL, or credit/debit card.
*Cryptonomist did not write the article or test the platform.
