Pepe (CRYPTO: PEPE) led the meme coin gains Sunday night as the broader cryptocurrency market capped the week on a high.
What happened: The Ethereum (CRYPTO: ETH)-based cryptocurrency popped over 6% over the last 24 hours, with trading volume exploding by 120%.
In doing so, PEPE outgained meme heavyweights like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which rose 2.99% and 1.16%, respectively.
The latest uptick propelled the frog-themed coin's weekly gains past 14%, making it one of the most lucrative meme coin bets.
See Also: Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters
Notably, the balance held by PEPE's long-term holders rose 0.04% in the last 24 hours, according to IntoTheBlock, indicating accumulation by diamond hands. Moreover, large transactions valued at over $100,000 spiked 12.21%.
Well-known analyst Max Schwartzman said he was excited over what PEPE had to offer, predicting a "Jackpot July" for the meme coin.
Leading cryptocurrencies such as Bitcoin (CRYPTO: BTC) trended upward after President Donald Trump called BTC’s growing adoption a "great thing" for the U.S.
Price Action: At the time of writing, PEPE was exchanging hands at $0.00001005, up 6.03% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has plunged 46%.
Photo Courtesy: Akif CUBUK on Shutterstock.com
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