In an unexpected turn of events, Bitcoin has held its ground even as some major altcoins experienced sharp drops in value. SUI and PEPE both saw losses of 5% and 8% respectively, leading to a surprising market anomaly.
Members of the “rogue” Pepecoin team have been blamed for an alleged $16M PEPE multisig wallet withdrawal. This has reportedly left the organization’s investors and users reeling from the loss.
The meme coins that began as a joke are proving to be no laughing matter. PEPE and SHIB prices rose double digits within the last week, solidifying their place in the cryptocurrency market.
Crypto markets have seen a surge in ‘meme coins’ this week, with PEPE and SHIB leading the charge with double-digit gains. Analysts are pointing to increased investment in these coins as a sign of the maturing crypto market.