Over the last 12 hours, Pepe (PEPE) has been trading at $0.0000109, experiencing a 2.04% decline in the last 24 hours, despite a 35.42% surge over the past week(CoinGecko)(crypto.news). The meme coin has generated significant attention in the crypto space due to heightened whale activity and its continued growth in popularity.
Key Market Developments:
- Whale Accumulation: Whale activity has been a crucial factor in PEPE’s recent performance. Multiple large-scale purchases, including one involving $800,000 worth of PEPE, have contributed to its recent surge(CryptoPotato). This uptick in buying pressure has led to a week-long rally, positioning PEPE among the best-performing memecoins in the market.
- Market Sentiment: The broader cryptocurrency market has shown signs of recovery, with a 3% increase in global market capitalization over the last 24 hours. This positive sentiment has helped fuel PEPE’s rise, which remains a favorite among memecoin traders(CryptoPotato)(crypto.news).
- Technical Outlook: PEPE is currently trading in the $0.0000107 – $0.0000115 range, with strong support at the lower end. However, given its rapid price increase, analysts are cautious about potential profit-taking by short-term holders. If PEPE can break through resistance at $0.0000115, it may aim for higher targets(CoinGecko).
Outlook:
Despite a slight dip, PEPE’s overall bullish trend suggests room for continued growth if whale interest remains strong. However, traders should remain cautious of potential pullbacks due to profit-taking.
PEPE’s recent performance highlights its resilience as a top-tier memecoin, making it a coin to watch in the coming days.
