Pepe coin experienced a significant 23% jump on July 16, driven by a substantial purchase from venture capital firm Nascent.
The firm bought 141 billion PEPE, worth approximately $1.57 million, after selling its MKR holdings. This move signals strong confidence in the meme coin’s potential.
Nascent’s recent actions involved trading 1,215 MKR tokens valued at $3.41 million for 141.23 billion PEPE and 281K LDO tokens through Binance.
This brings Nascent’s total PEPE holdings to 608.85 billion, valued at $7.49 million. This aggressive acquisition strategy highlights the firm’s belief in PEPE’s growth prospects.
Following this acquisition, PEPE’s price surged to $0.00001201. The coin’s value fluctuated between $0.000009399 and $0.00001251 in the past 24 hours. Market analysis from Coinglass showed a 23.19% increase in futures open interest and a 178.66% rise in derivatives volume, indicating strong investor interest.
With the RSI at 58, the market shows a slight bullish trend, suggesting potential for further price increases. However, the volatile nature of the cryptocurrency market means investors remain cautious about future movements.
Momentum is building around Solana (SOL), with some market watchers suggesting it could soon surpass Ethereum (ETH) in performance if the crypto market heats up again.
A closely watched crypto analyst, known as InvestAnswers, believes that while Bitcoin (BTC) remains in a clear uptrend, Solana (SOL) is positioned to outperform the leading cryptocurrency.
Bitwise, a leading crypto asset manager, has taken an early step toward launching a NEAR Protocol-based exchange-traded fund (ETF).
SUI’s price jumped from $2.98 to $3.77 on April 25, 2025, before it went back to $3.68 at the time of writing marking a 25% daily gain and pushing its market cap to roughly $12.25 billion.