The price of pepe (PEPE), one of the many memecoins that spawned out of crypto winter, has doubled in a week to a $500 million market cap as traders anticipate the etchings of a bitcoin (BTC) spot ETF-induced bull market. The frog-themed memecoin was one of the beacons of optimism in the recent bear market, rising to a $1.6 billion market cap in early May as traders speculated over whether it could rival the likes of dogecoin (DOGE) and shiba inu (SHIB). The hype rapidly wore off as the market cap slipped to $244 million earlier this month, but it now appears to have found a way out of the doldrums.
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