๐ธ๐ฅPEPE Price Rises 50% to Target a New ATH
The crypto market is facing another setback with the fall in Bitcoin prices. As a result, most of the cryptocurrencies are under losses, including #pepe PEPE, the frog-themed meme coin, managed to stay in profit overall this week, as its price increased by 50%, but compared to its value yesterday, the token is down by 7%. The meme coin is currently trading at $0.000007373, which is only 31% away from the all-time high record set just a month and a half ago.
This decline in the crypto market is due to halving the post-Bitcoin volatility attacks as cryptocurrencies face sharp declines due to liquidation issues. In addition, the geopolitical situation in the Middle East is also deteriorating, affecting the performance of the market.
Despite all these declines, the meme market is in relatively good shape, as investors are turning to meme coins for short-term gains.
Can PEPE Reach a New ath Soon?
PEPE is among the most preferred meme coins and has always managed to bounce back from such Decadent situations. Even now, crypto analysts such as Captain Faibik believe that pepe can rise to an ath due to clear bullish flag patterns.
However, whale activity has also increased recently, as there has been an 11% increase in whale transactions exceeding the value of $100,000. The number of such whales increased from 246 to 273 in one day
Result
With a few bullish indicators, pepe has a chance to progress towards achieving the ATH goal. The meme coin needs a bullish trend from the crypto market to create the momentum it had the previous month. If the market returns to the conditions of the last month, PEPE may be able to rise to the top of the month before the end of the month.
