😱🐸PEPE managed to attract attention with a 20% price increase in 24 hours

#PEPE has risen by 20.5% in the last 24 hours and is trading at $0.00000740 at the time of writing. The asset's market capitalization increased to $ 2.92 billion, making it the 35th. he made it into the largest digital currency.

Moreover, the daily trading volume of meme coin reached $ 1.14 billion, an increase of 24%.

Inspired by the popular Pepe the Frog meme of the 2000s, the Pepe token was created in April 2023. The asset has recorded a rise of 12,200% since its inception, reaching an all-time high of $0.0000107 on March 14, bringing its market capitalization to $4.2 billion.

It is important to note that Pepe is currently the third largest meme coin after Dogecoin (DOGE) and Shiba Inu (SHIB).

According to the data provided by Centiment, the PEPE currency inflow has decreased from 5.57 trillion tokens to 5.47 trillion tokens in the last 24 hours. However, the stock market output recorded a small increase and is hovering at 6 trillion pepe.

This market behavior suggests that investors are slightly hoarding the meme token instead of selling it for short-term profit.

Data from the market intelligence platform shows that the number of daily active addresses of Pepe has increased consistently over the past three days - from 2,670 on April 29 to 3,249 unique wallets at the time of reporting.

When the price rises along with the number of active addresses, lower price volatility is usually expected due to the lower chance of whale manipulation.

On the other hand, PEPE showed signs of overheating, with the Relative Strength Index (RSI) rising from 64 to 72 percent. At this point, the RSI indicator indicates that pepe is moderately overvalued and high price volatility is generally expected under these market conditions.

an RSI below the 50 mark could potentially suggest further price increases for PEPE.

#PEPEUSDT #Memecoins #binance