Pepe (PEPE) has recorded an impressive price surge over the past day amid inflated whale activity.
PEPE has surged by 18.5% over the last 24 hours and is currently priced at $0.0000080. The meme token’s market value has grown to a substantial $3.31 billion, positioning it as the 37th largest cryptocurrency in circulation at this moment.
Additionally, the daily trading volume for PEPE surged by 62%, amounting to $1.64 billion. It’s worth noting that approximately half of this coin’s trading, or around $768 million, occurs on the Binance cryptocurrency platform.
Starting on April 11, Coinbase planned to add the Pepe perpetual futures contract to its platform. However, they encountered technical issues and had to postpone the launch indefinitely by April 18. After a five-day hiatus, on April 23, Coinbase made an announcement that non-U.S. residents could now trade the 1000PEPE-PERP contract.
The 1000PEPE-PERP market on Coinbase International Exchange and Coinbase Pro can now be traded freely. You can place various order types, such as limit, market, stop, and stop limit orders.— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 23, 2024
Based on Santiment’s figures, there was an uptick of 11% in the number of whale-sized PEPE transactions (worth $100,000 or more) within the past day, bringing the total count to 273 from earlier 246 distinct transactions.
According to Santiment, the RSI of the meme coin, PEPE, rose from 46 to 56 within the last 24 hours. This signifies that PEPE has become somewhat overbought and potentially overvalued at its current price level. Consequently, a greater degree of price fluctuations could ensue.
With an RSI (Relative Strength Index) under 50, PEPE may be well-positioned for additional price growth.
According to market intelligence data from Santiment, there was a notable rise in Pepe’s trading activity. Specifically, approximately 5.65 trillion PEPE tokens were transferred into exchanges over the past 24 hours, while around 4.87 trillion tokens were taken out.
Approximately 780 billion PEPE dollars flowed into exchanges recently, indicating that certain investors may be positioning themselves for brief gains before the market makes its next move.
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2024-04-24 10:43