Pepe Coin (PEPE), the world’s third-largest meme coin, has experienced a remarkable surge.
Currently, it seems impossible to halt the surge in PEPE, the world’s third-largest meme coin. In the past twenty-four hours, the price of PEPE Coin has increased by an additional twelve percent, bringing its weekly gains to more than eighty percent.
The price of PEPE Coin is currently trading at $0.0000166, and its market value has recently crossed $7 billion, achieving a new milestone. PEPE has recently experienced a surge in value, which coincides with a significant increase in investor interest, as the daily trading volumes have surpassed $2.56 billion.
PEPE Coin Hits New All-Time High
Following Dogecoin and Shiba Inu as the third-largest meme coins, PEPE has reached a significant milestone, becoming the third-largest meme coin overall. The token has achieved a gain of 135% over the past month, surpassing not only its competitors but also the overall cryptocurrency market.
The Ethereum-based cryptocurrency has yielded a twelve-fold return to its holders thus far this year. Rich investors have taken notice of this rally, which has drawn their interest. A whale reportedly removed 1.32 trillion PEPE tokens from Binance over the course of the past five days, according to the on-chain tracking site Spot On Chain. A return of 21% has been created by this whale’s PEPE portfolio at the present pricing.
Following the legalization of spot Ethereum exchange-traded funds (ETFs), the cryptocurrency market has been experiencing a positive sentiment, which is aligned with the recent excellent performance of PEPE. Because purchasers are resisting efforts to pull the price down, Pepe’s price action continues to be optimistic.
A solid support structure has developed in the vicinity of the $0.00001380 level, which we have tested twice. Additionally, PEPE is establishing higher lows and higher highs, indicating an increasing upward trend. Additionally, the price is trading above the simple moving averages (SMA) for both the 50-day and the 200-day time periods, which further strengthens the bullish picture.
The on-chain analysis company Santiment said that the number of active addresses holding PEPE increased from 3,600 to 12,000 between May 21 and May 22. This suggests that PEPE is poised for further rallies during this period. We saw a similar surge in the number of wallets carrying PEPE in the middle of May.