In short: PEPE, the frog-themed meme coin, has gained 78% in the last seven days, coinciding with a positive wave in the crypto market, particularly with the performance of Bitcoin and Ethereum. Despite a slight pullback, it maintains a 12.43% price increase over the past 30 days. While the reason for the rally may be due to Pepe developers selling their pre-mines, the bullish sentiment generated enough buzz to push the PEPE price as it is a community-driven token. PEPE is fighting to defend the $0.00000163 resistance level, and further rallies will depend on sustained momentum.
Our quick analysis:
Pepe Coin’s recent spike in price left many avid cryptocurrency watchers surprised, as the meme-inspired token soared to the front seat of the hearts of meme enthusiasts. For those who were watching carefully, Pepe Coin added growth percentages in thousands, leading the way for a new class of frog-inspired meme coins.
This bullish sentiment was enough to send the price of PEPE skyrocketing last week, gaining 78% in seven days. This rally accompanied days of incredible performance across the crypto market, with Bitcoin gaining 15.03% and Ethereum scoring 9.56% over the past seven days.
Although Pepe Coin's trading volume has declined slightly, it still offers a 12.43% 30-day price increase among top-gaining coins. The previous downtrend had hampered trading liquidity, but the recent market recovery, alongside the possible sell-off by Pepe developers, may have catalyzed the rise in PEPE's price.
PEPE's market cap-to-volume ratio has increased by over 36% within 24-hours, increasing its market share of support and resistance. A break above its current position could drive more rallies.
Yet, despite the euphoria, the bulls must press on and sustain the momentum. Otherwise, this frog-inspired token could swiftly go back to hopping about as though it were on a hot plate.
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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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