The Reason for the Rise of PEPE Coin Has Been Revealed!

SUBSCRIBE News

Last week, meme-based cryptocurrency PEPE Coin made a name for itself in the crypto market with its remarkable performance. Both price performance and technical analysis developments attracted the attention of investors and analysts. Here's a summary of the key developments for PEPE Coin over the past week:

PEPE Coin has outperformed the overall global cryptocurrency market, gaining approximately 26.5% in the last seven days. During this period, it has also outperformed other cryptocurrencies in the Ethereum ecosystem. According to current data, PEPE's price is currently around $0.000013, and its 24-hour trading volume has reached $1.68 billion. This increase is primarily attributed to Bitcoin's recent surge, which has fueled interest in meme coins. PEPE currently ranks 27th on CoinMarketCap and holds a strong market capitalization of $5.28 billion.

PEPE is experiencing significant movement in technical formations. I believe it's testing the 0.000013 level and if it holds above this level, sharper gains are possible. As you can see from the chart I drew below, there's a cup-and-handle formation. I recently shared the chart on my Twitter account ! This chart is solely my observation and does not constitute investment advice. I also shared PENGU Coin with you the other day. Click to read. Here's the chart and key levels:

PEPE Coin's community-driven nature stands out as a key factor supporting its price action. PEPE's popularity is growing on social media platforms, particularly Twitter, thanks to its trending presence and active community participation. However, a recent slowdown in whale activity has been observed. An 880% drop in trading volume among major investors has prompted some analysts to exercise caution. Despite this, the community's enthusiasm and the power of meme culture continue to solidify PEPE's position in the market.

PEPE, a deflationary meme coin, stands out with its no-fee policy and redistribution system that rewards long-term investors. The project's roadmap includes goals such as listing on major exchanges and "taking over the meme ecosystem." Analysts believe PEPE has strong upside potential in the current market, especially as the altcoin rally accelerates. However, given the volatility of the crypto market, investors should consider technical and fundamental analysis.

As a result, PEPE Coin remained on investors' radars last week, thanks to both its price increase and positive signals from technical analysis. Driven by community support and meme culture, this cryptocurrency could reach new highs in the coming days, depending on market developments. However, it's important to proceed with caution in this volatile market.