The Pepe price has pumped by 6% in the past 24 hours, sliding to $0.00001062 as the crypto market as a whole profit 1.5% today.
PEPE is also pump by 15% in a week, yet the meme token is still up by 38% in a month and by 1,275% in a year.
This means PEPE is the best-performing top-50 coin of the past 12 months, with its 24-hour volume suggesting that it continues to attract plenty of demand.
And such demand may help it continue its climb up the market cap leaderboard, with Shiba Inu (SHIB) and Dogecoin (DOGE) now the only other meme tokens above it.
Pepe Price Outlook: Whales Accumulate as Volume Hits $2.7B — Can PEPE Overtake Dogecoin?
It’s encouraging to see that the Pepe price has pumped ,The token’s relative strength index (purple) would certain agree that a rebound should be on its way, given that it had entered an oversold position this morning.
Either way, PEPE’s market remains in good health overall, especially when it continues to command trading volumes in excess of $2.5 billion.
This is big for a meme token, with SHIB and DOGE seeing volumes today of $700,000 and $880,000, respectively.
This would indicate that PEPE is by far and away the most popular meme token in the market right now, and gives credibility to anyone who might claim that it will overtake the two coins above.
And PEPE is certainly popular among whales, with the past month witnessing a big buy of the coin .Its current momentum comes at a difficult period for the cryptocurrency market, which has responded negatively to the escalating conflict in the Middle East and the SEC’s appeal against Ripple.Yet things may settle in the event that tensions between Israel and Iran do not worsen, leaving the market free to resume the growth it began last month.
In such a context, the Pepe price is likely to return to $0.000012 by the end of the month, and reach $0.0000158 by the end of November.
