Memecoins
Pepe Coin rises 13% amid meme coin sector recovery, price hits new all-time high
Pepe coin, a renowned cryptocurrency with frog-themed memes, continued to defy broader market sentiments of a due price correction and once again rose to unprecedented levels. The frog-themed meme cryptocurrency hit a new record high today amid the meme coin industry’s recovery, solidifying its position and attracting significant attention across the global cryptocurrency realm.
With weekly gains of over 50%, followed by a price increase of over 100% recorded in the last month, the meme coin has emerged as a favorite on the radar of traders and investors in the cryptocurrency market. Here is a short report on the current Pepe coin market statistics
Pepe Coin Bull Run: a closer look
In particular, PEPPER kicked off the year on an optimistic note as the token embarked on a bull run in March. Furthermore, it continued to hold above critical price levels, further continuing to pump towards new highs.
Pepe coin hit a new record high of $0.00001577 today, May 25, sparking significant interest from investors. This ATH comes on the heels of a 13% price rally, as mentioned above.
While Coinglass reported $4.58 million in liquidations, the token is seeing a phenomenal rally today, drawing further investor attention to the frog-themed meme token.
CoinGape Media previously reported this Pepe coin it recently secured the 20th place in the ranking of the main cryptocurrencies by market capitalization. Together with the developments mentioned above, PEPE paints a highly bullish market outlook.
Furthermore, jwynn.eth, a renowned cryptocurrency trader, deposited a staggering 491 billion PEPE on Binance, one of the world’s leading cryptocurrency exchanges, to profit from this price rally. It is worth noting that the trader believes that PEPE is still undervalued.
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PEPE price increases by 13%
At the time of writing, The price of PEPE it has gained 12.33% in the last 24 hours and is currently trading at $0.00001548. Its 24-hour lows and highs are $0.00001366 and $0.00001559, respectively. Data from Coinmarketcap shows that PEPE has rallied 53% over the past week, while monthly gains stood at 104.42%.
Furthermore, data from Coinglass highlighted prevailing mixed feelings for PEPE among investors, with OI rising 21.58%, although derivatives volume fell 41.05%.
The RSI continued to move in the overbought zone at 74, fueling market sentiments of a potential price correction.
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