On May 14, 2024, the PEPE price reached an all-time high of $0.000012 as the resurgent GameStop (GME) scandal seeped into the crypto memecoin market.
The GameStop saga of 2021 has returned, with the GME stock price rising by 40% on May 14.
PEPE Price Surges 90%
Early market signals and Reddit comments indicate that the rise is mainly motivated by leftover nostalgia for the notorious surge in 2021, which saw institutional bear traders lose billions in liquidated short contracts as retail traders piled on long holdings.
However, this time, the retail bullish mood around the Gamestop (GME) price movement has spilled into the crypto markets, causing a wave of memecoin mania. Interestingly, the PEPE price, which skyrocketed from the beginning of May 2024, has emerged as one of the most sought-after crypto meme coins amid the Gamestop boom.
As shown in the chart above, PEPE’s latest price explosion on May 14 pushed its monthly growth performance to 90%. Notably, the $0.000012 daily period peak is an all-time high for Ethereum’s largest memecoin project by market capitalization.
