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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

PEPE Coin Shines Among Top Gainers, Tallies 78% In Last Week

Kent Tenix
Kent Tenix
1 year ago
2 mins read
PEPE

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The Frog-themed meme coin, PEPE, has buckled up with high gains as the market sees recovery. The token bullishly rode on the positive wave of crypto community sentiments in the last week, adding 78% gains in seven days. 

PEPE’s rally coincides with days of incredible performance across the crypto market. Bitcoin gained 15.03% last week, while the second-largest cryptocurrency by market cap, Ethereum, has scored 9.56% over the past seven days.

Pepe Coin topped charts over the past few days and still maintains a 12.43% 30-day price increase among top-gaining coins despite a slight pullback.

Possible Factors Behind Pepe Coin’s Price Moves

As of the time of writing, Pepe Coin’s trading volume has declined slightly by 8.07%, suggesting the ongoing rally isn’t coming from inflows. PEPE traded with little liquidity due to the prevailing selling pressure from the previous downtrend. So the most plausible reason for the rally could be the Pepe developers who previously sold their pre-mines at high levels. 

Related Reading: Bitcoin Holders Expect Retrace, Will BTC Move Against Crowd Once Again?

The cash-out plus the recent market recovery could’ve catalyzed PEPE’s price rally. The bullish sentiment must have generated enough buzz to push the PEPE price since it is a community-driven token. 

PEPEUSD price chart
PEPE ‘s price currently hovers at $0.0000016522 in the daily chart. | Source: PEPEUSD price chart from TradingView.com

Pepe Hits Market With Unparalleled Performance Amid Heightened Volatility

The frog-theme-inspired meme token hit the market with a disruptive wave, adding growth percentage in thousands, gaining it a front seat in the hearts of meme enthusiasts. However, the enthusiasm died down when the meme coin succumbed to a long dark tunnel of a bearish trend. 

But that didn’t last too long, as PEPE quickly picked pace with substantial growth that saw its price rise to $0.00000164 on June 23. PEPE closed June 22 trading session at $0.00000138, with a 29.5% price increase after rallying 13% on June 21. 

The meme token also scored a nearly 20% price increase over the weekend and 3.9% on Monday, June 26, when most coins traded sideways. These consecutive gains brought the token to a price of $0.00000165, with a 3.52% increase at press time.

Besides the price rise, PEPE’s market cap-to-volume ratio has increased by 36.58% within a 24-hour time frame, according to CoinMarketCap data. PEPE has bounced above its primary support level at $0.0000013675 and is fighting to defend the $0.00000163 resistance level. A break above the current price position could trigger more rallies for the meme token.

Irrespective of the meme coin’s incredible performance over the past few days, the bulls must press on to sustain the momentum. Otherwise, PEPE might plunge back into an all-time low.

Featured image from Pixabay and chart from TradingView.com
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Kent Tenix
Kent Tenix

Kent Tenix

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on crypto, business, technology, or finance, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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