Pepe Coin (PEPE) Price Shoots 260% In A Week, More Steam Left?

Pepe coin (PEPE) has been one of many main contributors to the continuing memecoin frenzy out there. Over the past week, the Pepe Coin (PEPE) value has surged by a staggering 263%. Within the final 24 hours, PEPE has added a 40% upside to its value now buying and selling at $0.000004366 with its every day buying and selling quantity capturing up by 200% to $2.31 billion.

PEPE Joins the Memecoin Fest

The Ethereum-based frog-themed memecoin has been one of many top-performing altcoins lately out there.

The numerous rise in PEPE’s market worth could be attributed to a mixture of underlying fundamentals and technical elements. A pivotal second occurred with the introduction of a particular supply by Binance geared toward incentivizing the acquisition and retention of PEPE.

This initiative supplied complimentary tokens and improved returns, serving as a transparent endorsement of PEPE by Binance and attracting additional curiosity from traders. This strategic maneuver not solely boosted PEPE’s buying and selling quantity but additionally bolstered investor belief, taking part in a considerable function in its general market efficiency.

PEPE Coin Whale Strikes

In response to Lookonchain, a blockchain analytics platform, a major transfer was made by a whale yesterday, depositing almost 2 trillion PEPE tokens into one of many world’s largest cryptocurrency exchanges.

The whale’s accumulation journey started on June 7, 2023, when Pepe Coin was buying and selling at $0.000001054. From June to December of that yr, the handle amassed 1.97 trillion Pepe tokens.

Roughly two months after this six-month shopping for spree, the whale deposited its whole PEPE holdings, valued at round $6.07 million, to Binance. As per the blockchain analytics platform, the whale reaped a revenue of over $3.49 million inside a matter of hours.

A sensible whale deposited all 1.97T $PEPE($6.07M) to #Binance and made a revenue of $3.49M.

Then he modified his place from $PEPE to $SHIB, withdrawing 75.9B $SHIB($893K) from #Binance 3 hours in the past.https://t.co/X67O2VjR1y pic.twitter.com/nL7rRDZCXT

— Lookonchain (@lookonchain) February 29, 2024

Extra Steam Left?

Amid its current breakout above $0.000003537, the Pepe coin has entered a value discovery part with the opportunity of additional upside from right here. The RSI is hovering near common ranges, but it has persistently remained above, indicating the continuing dominance of the bulls.

This implies that bullish momentum stays strong and should present itself shortly. With the anticipated subsequent bullish surge, the Pepe Coin (PEPE) value is prone to attain new highs alongside the higher resistance of the sample, surpassing $0.0000055.

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Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Expertise and Cryptocurrency markets. He’s constantly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and generally discover his culinary expertise.

The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.