Highlights:
- Brett and Pepe have surged in the past 24 hours as South Korea’s top exchange announced trading pair support for the coins.
- BRETT saw over 10% increase ahead of PEPE with less than 10% upswing.
- Holders making money at BRETT’s current price have touched 53% following the subtle surge.
Popular meme coins Pepe (PEPE) and Brett (BRETT) have surged significantly as Upbit unveils new trading pair support for the tokens. In a new development, Upbit, a leading exchange domiciled in South Korea, has unveiled features that will enable PEPE and BRETT tradings against Tether (USDT).
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When events like the one described above happen, the impacts are always significant for the cryptocurrencies involved. Hence, it is unsurprising that BRETT and PEPE are recording remarkable price increments that have elicited widespread reactions among market participants.
Upbit, South Korea's largest cryptocurrency exchange, announced the addition of USDT trading pairs for Brett (BRETT) and Pepe (PEPE). BRETT and PEPE are both memecoins. Binance Futures will launch the BRETTUSDT Perpetual Contract with up to 50x leverage.https://t.co/apzyvjoqr7
— Wu Blockchain (@WuBlockchain) August 20, 2024
PEPE Records 5% Surge in 24 Hours as Upbit Unveils New Trading Pair Support
The third most valuable meme coin, PEPE, has reacted positively to the latest update. Interestingly, the token has skyrocketed by about 5.02% within a day interval, bringing its selling price to roughly $0.00000776. Consequently, PEPE’s market capitalization has ascended to approximately $3.27 billion. In addition, the frog-themed crypto asset’s 24-hour trading volume saw a 72.8% upswing with a $788.18 million valuation.
Before PEPE’s remarkable price surge, the meme crypto asset kept recording losses, evidenced by price changes across specific periods. For context, the token recorded 6.8%, 3.8%, and 36.9% in declines, respectively, in its 7-day-to-date, 14-day-to-date, and 30-day-to-date statistics.
The decline recorded above underscored the frog-themed token’s struggles in recent weeks. Therefore, market participants hope the recent positive changes will boost the embattled token. Meanwhile, despite the subtle increment, PEPE is 54.9% below its $0.00001717 all-time high attained in May 2024.
Holders Making Money at Current Price Hits 53%
While PEPE might have recorded a subtle price appreciation, holders’ making money at the token’s current price remained unimpressive. According to IntoTheBlock’s data, only 53% of the token holders are making profits. 10% are neither losing nor gaining, while 37% are accumulating losses.
Meanwhile, concentration by large holders was significant at about 73%. On the other hand, transactions greater than $100K in the past seven days touched $256.42 million, underscoring an active coin network. For holders’ composition by time held, 28% have held on to the token for more than a year, 63% have owned the token between a month and twelve months, and 9% have owned the token for less than a month.
BRETT Registers Over 10% Increment in 24 Hours
Like PEPE, Brett also recorded price surges. However, its increment was more pronounced relative to PEPE. At the time of press, Brett is changing hands at about $0.089, reflecting a 17.14% upswing in the past 24 hours. Among meme coins, Brett ranks as the seventh most valuable crypto with a $881.2 million valuation. In its 24-hour trading statistics, Brett recorded a 360.95% upswing, bringing its worth to about $107.5 million.
Interestingly, Brett’s 7-day-to-date, 14-day-to-date, and 30-day-date price changes have been recording declines, underscoring poor market actions. How events unfold will ascertain if the recent price change is sustainable. Moreover, chances are high that the remarkable price appreciations could be transient, which invariably implies that price drops might be Imminent.
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