Categories: Crypto News
| On
2023-12-05 12:25 PM

GTA 6 Leak Spurs PEPE and Gaming Crypto Token Rally

  • GTA 6 Trailer Leak Boosts PEPE Price and Meme Tokens: The unexpected early leak of the GTA 6 trailer triggered a significant rise in PEPE price and other meme tokens, influenced by the event's pop culture impact.
  • Gaming Tokens Join the Rally: Alongside meme tokens, gaming-specific cryptocurrencies like Axie Infinity (AXS), Gala (GALA), and The Sandbox (SAND) also experienced a rise, albeit more modest, following the trailer leak.
  • Caution for Investors in South Africa: Amidst the excitement, investors in South Africa are advised to be vigilant against potential scam tokens related to GTA or GTA 6, reminiscent of the Squid Games token scam from 2021.
By Nonhlanhla

The unexpected early leak of the Grand Theft Auto (GTA) 6 trailer on Monday sparked a notable rise in PEPE price, along with other memes and gaming crypto tokens, highlighting the influence of pop culture on the cryptocurrency market.

PEPE Price Reacts to GTA 6 Trailer Leak

At the time of the leak, PEPE price was trading at $0.000001403, showing an increase of nearly 5% in an hour, adding to the previous 24 hours’ 15% rise. The boost in PEPE price was directly linked to the sudden reveal of the highly anticipated GTA 6 trailer. Other meme tokens like Memecoin (MEME) and Bonk (BONK) also saw increases ranging from 3% to 4% in the same timeframe.

Gaming Tokens Also Experience Uptick

Notably, gaming tokens such as Axie Infinity (AXS), Gala (GALA), and The Sandbox (SAND) joined the rally. While their increases were not as dramatic, they still managed to climb over 2% in the past hour. This trend is expected to continue, fueled by the excitement surrounding the GTA 6 trailer release.

Anticipated Surge Arrives Early

The surge, initially expected on Tuesday, December 5, coinciding with the trailer’s planned release, arrived a day early due to the leak. Rockstar Games, the developer, confirmed the leak and officially released the trailer shortly thereafter.

Investor Caution Advised in South Africa

As meme coins and gaming tokens gain traction in South Africa, driven by pop culture events, investors are advised to exercise caution. The market’s excitement can also attract potential scam tokens, as seen in 2021 with a Squid Games-inspired token scam that defrauded investors of nearly $3.4 million. South African investors should remain vigilant, particularly regarding tokens claiming association with GTA or GTA 6, to avoid falling prey to similar schemes.

This development presents an intriguing scenario for South African cryptocurrency enthusiasts and investors, blending the worlds of gaming and digital finance in an increasingly interconnected global market.

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Nonhlanhla

Nonhlanhla P Dube is a senior news reporter. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her on: Email: nonhlanhla@rateweb.co.za

Tags: PEPE Coin