The meme coin PEPE, which represents the famous frog ๐ธ, has seen unprecedented activity in the crypto market ๐ฐ, reflecting bullish movements ๐ that could be an indication of regained confidence ๐. Over $1.14 billion worth of PEPE ๐ has been traded in the last 24 hours, showing a significant increase in investor interest in the asset ๐.
PEPE price evolution ๐น
According to data from CoinMarketCap ๐ป, the PEPE market saw a significant jump in trading volume of 19.74% ๐ to $11 billion ๐ต. This increase reflects the movements of investors and traders who are taking new positions ๐ผ in anticipation of a possible market recovery ๐.
PEPE price analysis at the moment ๐
As of writing โ๏ธ, PEPE is trading at $0.00002549 ๐ฒ, reflecting a 2.15% increase ๐ in its value, as the coin continues to face challenges in maintaining price stability โ๏ธ. Earlier, the price reached $0.00002748 before witnessing some volatility โก due to market volatility ๐ช๏ธ. However, PEPE managed to find a support level at $0.0000185 ๐, where it is trading around this level despite the price changes ๐.
This development is a significant improvement in PEPEโs performance ๐, especially after it dropped to its lowest level over the past week at $0.00001455 ๐ฅฒ. The coin appeared to be regaining its strength ๐ช as it began a correction process, indicating a possible return to higher levels if the current momentum continues โก.
Is PEPE experiencing a major rebound? ๐
Analysts point out that for PEPE to return to levels close to $0.00002760 ๐ต, which it reached in mid-December ๐๏ธ, community support must remain strong ๐ฌ. It is well known that communities supporting meme coins play a crucial role in driving price action ๐ฅ.
For example, Elon Musk ๐งโ๐ผ, who is known for his passion for memes ๐, recently created a buzz around PEPE when he posted a meme on the X platform ๐ฑ, refocusing attention on the coin. Whale activity ๐ could also help determine the market direction, increasing the chances of a return to PEPEโs earlier price levels โณ.