PEPE Token Sees 20% Price Increase in 24 Hours

The PEPE token has experienced a significant price surge, rising 20.5% in the last 24 hours to trade at $0.00000740. Its market capitalization has increased to $2.92 billion, making it the 35th largest digital currency. The token's daily trading volume has also seen a 24% increase, reaching $1.14 billion.

PEPE, inspired by the popular Pepe the Frog meme, was created in April 2023 and has seen a remarkable 12,200% increase since its inception. It reached an all-time high of $0.0000107 on March 14, with a market capitalization of $4.2 billion. Currently, PEPE is the third-largest meme coin after Dogecoin (DOGE) and Shiba Inu (SHIB).

According to Centiment data, the PEPE currency inflow has decreased from 5.57 trillion tokens to 5.47 trillion tokens in the last 24 hours, while the stock market output has seen a small increase, hovering at 6 trillion PEPE. This suggests that investors are holding onto the meme token instead of selling for short-term profit.

The number of daily active addresses has consistently increased over the past three days, from 2,670 on April 29 to 3,249 unique wallets. This, combined with the price rise, may indicate lower price volatility due to reduced whale manipulation.

However, the Relative Strength Index (RSI) has risen from 64 to 72%, indicating that PEPE is moderately overvalued, and high price volatility is expected. An RSI below 50 may suggest further price increases for PEPE."