Over the past 24 hours, Pepe (PEPE) has experienced significant trading activity, with its trading volume skyrocketing by 150% to reach $2.12 billion. Concurrently, the price of PEPE surged by 29.61% to $0.00001213, pushing its market capitalization up by 28% to $5.10 billion, securing its position at 22nd place in the market rankings.
Source:CoinMarketCap
A major catalyst for PEPE's recent momentum is Nascent's acquisition involving 1,215 MKR tokens valued at $3.41 million. In exchange, Nascent received 141.23 billion PEPE tokens valued at $1.57 million and 281,000 LDO tokens worth $503,000. This acquisition has bolstered bullish sentiment, with Nascent now holding 608.85 billion PEPE tokens valued at approximately $7.49 million.
Interest in PEPE has also surged in the derivatives market, with open interest in futures rising by 23.19% to $144.78 million and derivatives volumes increasing by 178.66% to $3.24 billion. Analysts foresee a bullish outlook for PEPE, predicting a potential price increase to $0.00001730 if current positive market sentiment continues.
PEPE recently broke out of a falling wedge pattern with a 29% increase, indicating a potential uptrend. Analysts suggest that for sustained bullish momentum, PEPE needs to consolidate above the $0.00001350 resistance level. Technical indicators, including the Relative Strength Index (RSI) and Chaikin Money Flow (CMF), are supportive of further price appreciation.
Overall, PEPE has shown strong performance in both trading volume and price, driven by significant market interest and strategic acquisitions. Traders are closely monitoring key resistance levels for potential breakout opportunities, underpinned by optimistic market sentiment and increased derivatives activity.
WHPEPE primed for explosive growth with MEXC listing, poised to follow path of viral memecoins like SHIB and DOGE. Early investors eye significant returns amid Solana memecoin craze.
EdmundPEPE price dips 5% to $0.000007554 in 24 hours amid broader market loss. Still, PEPE shows resilience with 55% weekly increase and 3,000% surge over the year. Whale accumulation hints at upcoming rallies.
Huang BoBinance introduces meme token promotion to reengage users. Traders can claim FDUSD vouchers by trading $100 on selected pairs. Strategic move taps into meme token trend, aims to boost activity on the platform.
Xu LinPEPE defies market norms, surging 16% in 24 hrs post-Coinbase listing, indicating potential for further gains.
Xu LinCoinbase's move to introduce perpetual futures for Pepe (PEPE) on its off-shore platform ignited initial enthusiasm among traders, although the token's value retraced shortly after the announcement.
MiyukiCryptocurrency picks for 2024: Bonk thrives on Solana's memes, Retik revolutionizes finance, Pepe brings memes to DeFi, and Shiba Inu aims for meme stardom.
Xu LinDarkfarm's BOME token, inspired by Pepe memes, went viral on Solana, surging over 47x in 24 hours amid artist's massive liquidity provision.
AlexMemecoin frenzy sparks 3,000% surge in weekly volume. Pepe, Floki, and Bonk lead with triple-digit growth. High risk, high reward in volatile memecoin market.
EdmundExplore the journey of Pepe the Frog, a meme that transcended online culture to become a valuable cryptocurrency collectible. Discover how Rare Pepe cards, stored on the Bitcoin blockchain, revolutionized the concept of memes by transforming them into tangible digital assets with real-world value.
Cheng YuanThe scammer has illicitly obtained assets totaling over $7 million in value.
Beincrypto