PEPE has witnessed a surge of 106% in the past month.
Pepe coin has reclaimed its position as the third-largest meme coin in the market.
The meme coin sector spearheads bullish rallies with a 34.88% price growth in the last 30 days. In particular, Pepe Coin has shown an impressive 106% growth in market price over the past month. PEPE’s upward rally has resulted in 96% of the holders residing with profitable wallet holdings. The meme coin is now positioned as the most profitable coin in the sector.
Pepe coin began its bullish rally at the end of April and sustained it throughout May. The meme coin fueled by the price rally, made incredible advancements both within the memecoin sector and the overall market.
Notably, it outdistanced leading meme coins including Dogwifhat (WIF) to become the third-largest meme coin. Furthermore, PEPE momentarily surpassed the leading meme coin Dogecoin (DOGE) in trading volume on May 23.
Notably, Pepe coin’s advancements include flipping UNI and MATIC, native tokens of Uniswap and Polygon respectively, at the beginning of this week. However, recent price dips have caused the meme coin to slide downwards.
PEPE Price in the Past Month
Over the past 30 days, the memecoin staged a 106% surge. At the month’s beginning, PEPE traded within the range of $0.000005989 – $000007149. Currently, it traded within the $0.000013 range. This surge has caught the market’s attention and attracted increased investments pushing the coin to an overbought stage.
Moreover, PEPE hit its all-time high of $0.00001718 on May 27. Following this, the frog-themed meme coin witnessed slight dips in market price. At the time of writing, Pepe coin’s is trading at $0.00001416 with a daily decline of 5%. The market cap stood at $5 billion approximately while 24H trading volume increased by 5.67% according to CMC data.
PEPE/USDT Daily Trading Chart (Source: TradingView )
However, despite the recent price dip the current market price stood above the long-term 21-day MA indicating bullish trends according to TradingView data. If the bullish rally has to continue, PEPE is expected to break resistance at the $0.000016 level.
Finally, TheNewsCrypto analysts have predicted that the meme coin’s price might hit a bullish price of $0.00006588. However, if the bears take over it is expected to slide down to the $0.0000045 level by the end of 2024.
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