The price of Pepe ($PEPE) is surging by 6.9% this morning as meme coins are starting to recover from the losses they took in the first half of January.<\/p>\n
Pepe delivered gains of 14% in the past week,<\/strong> while other tokens in this space, like Dogecoin ($DOGE) and dogwifhat (WIF), have also performed quite positively during this period, producing returns of 24.7% and 19.9%, respectively.<\/span><\/p>\n
An encouraging inflation report in the United States this Wednesday may have contributed to pushing the price of meme coins higher.<\/p>\n
According to the Bureau of Labor Statistics (BLS), prices rose by 3.2% compared to a year ago in December<\/strong>. This figure was slightly lower than analysts\u2019 consensus estimate of 3.3% for this period.<\/p>\n
Market participants welcome lower-than-expected inflation readings as they increase the odds that the Federal Reserve will reconsider its current stance on interest rates and make additional cuts in 2025.<\/p>\n
Meme coins are high-risk assets that benefit from loose financial conditions and expansive monetary policies. Hence, lower interest rates favor the valuation of these cryptocurrencies.<\/p>\n
The Wall Street Pepe ($WEPE)<\/a> presale has reached a new milestone, as it has now raised over $50 million from investors in under two months.<\/p>\n
To buy $WEPE, head to the Wall Street Pepe website<\/a> and connect your wallet. You can either swap ETH, USDT, or BNB tokens or use a bank card to complete the transaction.<\/p>\n