Behind the price surge of Pepe Coin (PEPE)!
Recently, Pepe Coin (#PEPE), a meme coin with the image of a frog, has emerged in the digital currency market. Its price has risen significantly in the past 24 hours, with an increase of up to 11.15%. This growth is no accident and is supported by a series of market dynamics.
First of all, the active participation of large-scale investors and professional investors is one of the important factors driving the price increase of PEPE. According to reports, a large number of "whales" and "smart money" have recently poured into the market and actively bought Pepe coins. In particular, an investor named 0x37d withdrew a huge amount of Pepe coins from Binance. This behavior attracted widespread attention from the market and intensified the buying craze for the currency.
In addition, the market’s optimism is also reflected in the growth of open interest (OI) and derivatives trading volume. According to Coinglass data, Pepe’s OI increased by 2.31% to $118.78 million, while derivatives trading volume increased by 137.54% to $2.81 billion in October. These data clearly demonstrate the market’s optimistic expectations and strong interest in Pepe Coin.
The Rise of Floki (FLOKI)
At the same time, another meme coin with the image of a dog, Floki (FLOKI), has also shown strong growth momentum in the market. In the past 24 hours, the price of Floki has increased by 3.36%, reaching the level of $0.0002025. This growth was also due to the positive response of the market and a series of favorable factors.
Market maker DWF Labs withdrew a staggering 2 billion Floki from Binance, a move that has undoubtedly injected new life into the market. In addition, the Floki community’s upcoming token destruction proposal also provides strong support for the currency’s price increase. It is reported that the proposal aims to permanently destroy more than 15 billion Floki. This move is expected to reduce the supply on the market, thereby further increasing its price.
Market optimism is also reflected in the growth of Floki’s OI and derivatives trading volumes. According to data, Floki’s OI increased by 15.73%, while derivatives trading volume also increased by 244.72%. These growth trends echo well with Floki’s price rise, further proving the market’s positive expectations and strong interest in this meme coin.
The crypto market experienced a sharp drop on April 13, and the altcoins generally fell back by 50%-80%. Many fans' assets were halved. I personally felt deeply sad and regretful. Next, I anchored a spot on Ouyi. Personal information is that market makers are entering the market and are ready to make moves. Hesitation will lead to failure! Portal: (Put square introduction)
