{"id":609913,"date":"2024-05-26T14:00:13","date_gmt":"2024-05-26T14:00:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=609913"},"modified":"2024-07-11T07:58:42","modified_gmt":"2024-07-11T07:58:42","slug":"pepe-frenzy-100-gains-in-30-days-but-can-the-memecoin-keep-its-composure","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/pepe-frenzy-100-gains-in-30-days-but-can-the-memecoin-keep-its-composure\/","title":{"rendered":"PEPE Frenzy: 100% Gains In 30 Days, But Can The Memecoin Keep Its Composure?"},"content":{"rendered":"

The world of cryptocurrencies is seeing a familiar sight: a meme coin ablaze. Rising in recent weeks, PEPE\u2014a token with the internet’s preferred frog\u2014has left investors questioning whether this marks the beginning of a new age or a passing craze.<\/p>\n

Related Reading: Solana to Hit $1,000? Analyst Makes Bullish Call Despite Recent Downturn<\/a><\/div>\n

PEPE On A Tear: New Highs And Whale Activity<\/strong><\/h2>\n

PEPE has been on a roller coaster over the last month, surpassing projections and leaving a path of green for investors.<\/span> Rising nearly 100% in just 30 days, the price joyfully reached a fresh all-time high. Happy hodlers followed after this meteoric surge; according to IntoTheBlock data, a stunning 97% were seated nicely in profit.
\n<\/span><\/p>\n

Recovering its third-largest meme coin by market capitalisation from Dogwifhat, CoinGecko stats reveal Pepe has increased 56% in the previous week and 99% in the last month.<\/span>
\n<\/span><\/p>\n

The positive momentum has not showed any slowing down tendencies. Another 3.7% increase over the past 24 hours helped PEPE reach its present highest point. Not only financially but also on social media, this outstanding performance has attracted lot of attention.<\/span> The social volume of the coin has surged, suggesting an increase in interest and internet debate.
\n<\/span><\/p>\n

Total crypto market cap close to $2.5 trillion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Fueling the flames, a whale\u2014a word used to describe big investors with great buying power\u2014has been causing stirs.<\/span> Blockchain analytics tool Lookonchain has revealed a whale withdrawing an astounding 500 billion PEPE from Binance, a big bitcoin exchange. This huge build-up points to a vote of confidence in PEPE’s future spanning whale-sized proportions.
\n<\/span><\/p>\n

Buying Frenzy Or Overheated Engine?<\/strong><\/h2>\n

Although the recent price rise and social media buzz are definitely encouraging indicators, some analysts are cautions. Technical indicators taken closer show possible warnings of an overheated market. Measuring purchasing and selling pressure, the Chaikin Money Flow<\/a> (CMF) has slumped.<\/span>
\n<\/span><\/p>\n

\"\"
PEPE price action in the last 24 hours. Source: Coingecko<\/a><\/figcaption><\/figure>\n

Likewise, the Relative Strength Index (RSI) and Money Flow Index (MFI) both linger in the overbought zone, implying PEPE’s price might be poised for a fall.<\/p>\n

Selling pressure adds still another level of complexity to the picture.<\/span> While some investors are loading in, others could be cashing out their gains. Last week, PEPE’s exchange outflow increased on a crypto analytics portal called Santiment, suggesting purchasing demand. They also saw a rise in supply on exchanges, though, which would indicate some investors might be using the high price to sell.<\/span>
\n<\/span><\/p>\n

\"\"
Source: Santiment<\/figcaption><\/figure>\n

Potential Price Correction<\/strong><\/h3>\n

News BTC examined PEPE’s daily chart to evaluate this possible selling pressure’s effect. According to their research, the price might initially drop below $0.0000122 before maybe finding support and starting yet another bull run. A more thorough correction might see PEPE drop below $0.000010 or even less, though.<\/span>
\n<\/span><\/p>\n

Related Reading: Shiba Inu On The Verge Of 600% Rally? Analyst Weighs In<\/a><\/div>\n

The Most Traded Memecoin<\/strong><\/h3>\n

Meanhwhile, Pepe was still among the most traded cryptocurrency assets over the previous day, according to data from Binance, with only BNB Coin (BNB), Bitcoin (BTC), and Ethereum (ETH) surpassing it.<\/p>\n

Pepe still ranks highest among meme currencies traded, topping well-known coins as Shiba Inu (SHIB), Dogecoin (DOGE), and Floki (FLOKI).<\/p>\n

Featured image from ART street, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The world of cryptocurrencies is seeing a familiar sight: a meme coin ablaze. Rising in recent weeks, PEPE\u2014a token with the internet’s preferred frog\u2014has left investors questioning whether this marks the beginning of a new age or a passing craze. Related Reading: Solana to Hit $1,000? Analyst Makes Bullish Call Despite Recent Downturn PEPE On A Tear: New Highs And Whale Activity PEPE has been on a roller coaster over the last month, surpassing projections and leaving a path of green for investors. Rising nearly 100% in just 30 days, the price joyfully reached a fresh all-time high. Happy hodlers followed after this meteoric surge; according to IntoTheBlock data, a stunning 97% were seated nicely in profit. Recovering its third-largest meme coin by market capitalisation from Dogwifhat, CoinGecko stats reveal Pepe has increased 56% in the previous week and 99% in the last month. The positive momentum has not showed any slowing down tendencies. Another 3.7% increase over the past 24 hours helped PEPE reach its present highest point. Not only financially but also on social media, this outstanding performance has attracted lot of attention. The social volume of the coin has surged, suggesting an increase in interest and internet debate. Fueling the flames, a whale\u2014a word used to describe big investors with great buying power\u2014has been causing stirs. Blockchain analytics tool Lookonchain has revealed a whale withdrawing an astounding 500 billion PEPE from Binance, a big bitcoin exchange. This huge build-up points to a vote of confidence in PEPE’s future spanning whale-sized proportions. Buying Frenzy Or Overheated Engine? Although the recent price rise and social media buzz are definitely encouraging indicators, some analysts are cautions. Technical indicators taken closer show possible warnings of an overheated market. Measuring purchasing and selling pressure, the Chaikin Money Flow (CMF) has slumped. Likewise, the Relative Strength Index (RSI) and Money Flow Index (MFI) both linger in the overbought zone, implying PEPE’s price might be poised for a fall. Selling pressure adds still another level of complexity to the picture. While some investors are loading in, others could be cashing out their gains. Last week, PEPE’s exchange outflow increased on a crypto analytics portal called Santiment, suggesting purchasing demand. They also saw a rise in supply on exchanges, though, which would indicate some investors might be using the high price to sell. Potential Price Correction News BTC examined PEPE’s daily chart to evaluate this possible selling pressure’s effect. According to their research, the price might initially drop below $0.0000122 before maybe finding support and starting yet another bull run. A more thorough correction might see PEPE drop below $0.000010 or even less, though. Related Reading: Shiba Inu On The Verge Of 600% Rally? Analyst Weighs In The Most Traded Memecoin Meanhwhile, Pepe was still among the most traded cryptocurrency assets over the previous day, according to data from Binance, with only BNB Coin (BNB), Bitcoin (BTC), and Ethereum (ETH) surpassing it. Pepe still ranks highest among meme currencies traded, topping well-known coins as Shiba Inu (SHIB), Dogecoin (DOGE), and Floki (FLOKI). Featured image from ART street, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":609921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,88164,88145],"class_list":["post-609913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-memecoins","tag-pepe"],"acf":[],"yoast_head":"\nPEPE: 100% Gains In 30 Days, But Can It Keep Its Composure?<\/title>\n<meta name=\"description\" content=\"The world of cryptocurrencies is seeing a familiar sight: a meme coin ablaze. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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