$PEPE is seeing a surge in trading activity, suggesting growing interest in the cryptocurrency. Over the past 24 hours, more than 1.14 trillion PEPE tokens have been traded, contributing to a significant 19.74% rise in its market volume, reaching $2.13 billion. This uptick in trading reflects optimism among investors and traders, who seem to be positioning themselves ahead of a potential market rally.
As a result of the increased activity, PEPE's price has risen to $0.00001868, a 2.15% increase. Earlier, it peaked at $0.00001941, but after some fluctuations, the price has stabilized around the $0.0000185 support level, which is seen as a key point of stability. This recovery is particularly noteworthy as just a week ago, PEPE had dipped to $0.00001455. Now, it appears to be on a positive path of recovery, though its future price movements will depend on maintaining this momentum.
For PEPE to reach its previous highs, especially the $0.00002760 mark it hit in December, it will need continued support from its community. The enthusiasm around meme coins, particularly with figures like Elon Musk, who recently posted about PEPE, could play a role in driving its price upward. Additionally, the behavior of large investors, or "whales," will likely influence the direction of PEPE's price in the coming weeks.