1.14 billion PEPE in 24 hours, what's happening?
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PEPE, the frog-themed meme coin, is seeing massive activity in the cryptocurrency market that could signal bullish sentiment. Over 1.14 trillion PEPEs have been traded in the past 24 hours, a move that signals renewed interest in the asset.
PEPPER Price trend
According to CoinMarketCap data, PEPE market volume increased significantly by 19.74% to $2.13 billion. This increase in trading volume occurred as investors and traders moved to take positions in anticipation of a possible market rally.
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In particular, the increased interest has caused the price of PEPE to increase. At the time of writing, PEPE is trading at $0.00001868. This represents a 2.15% increase as the meme coin struggles to maintain price stability.
In the previous trading, PEPE price rose to $0.00001941 before experiencing minor fluctuations due to market dynamics. However, the token found $0.0000185 to be a crucial support level as it has so far traded above that level despite the fluctuations.
Market observers consider this a significant advance for PEPE, as the coin has dropped to a low of $0.00001455 in the past seven days. In a show of resilience, PEPE has started a pullback that looks promising if it can maintain its momentum.
Can Pepe experience a price rally?
Analysts argue that for PEPE to rediscover price levels close to the $0.00002760 mark reached in the second week of December, the community must be solid. In particular, the positive sentiment of the meme coin community could fuel the asset’s rebound.
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For example, Elon Musk, the billionaire innovator known for his love of memes, recently caused a stir about Pepe. In a post on X, he shared a meme about how some users of the social media platform treat information and news about PEPE.
Additionally, whale activity in the community could help determine the direction of prices as PEPPER begins to rebound to previous levels.$PEPE #pepecoin🐸🚀 #pepe #XmasCryptoMracles #XmasCryptoMiraclesChristmas