$PEPE

1.14 Trillion PEPE in 24 Hours, What Happens?

PEPE, the frog-themed meme coin, is experiencing massive activity in the crypto market that could indicate a bullish sentiment. Over 1.14 trillion PEPE tokens have been traded in the past 24 hours in a move that suggests renewed interest in the asset.

PEPE Price Performance

According to data from CoinMarketCap, PEPE market volume surged by a whopping 19.74% to $2.13 billion. This increase in trading volume occurred as investors and traders alike moved to take positions in anticipation of a potential market recovery.

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It is worth noting that the increased interest has led to a surge in the price of PEPE. At the time of writing, PEPE is trading at $0.00001868. This represents a 2.15% increase as the meme coin fights to maintain price stability.

In previous trading, PEPE price rose to $0.00001941 before witnessing mild fluctuations due to market dynamics. However, the token found a crucial support level at $0.0000185 and has been trading above that mark so far despite the volatility.

Market watchers are considering this as a major advance for PEPE, given that over the past seven days, the coin has dropped to a low of $0.00001455. In a show of resilience, PEPE has embarked on a corrective journey that shows promise if it can maintain the momentum.

Could PEPE see a price hike?

Analysts stress that for PEPE to rediscover price levels close to the $0.00002760 mark it reached in the second week of December, the community needs to be strong. It is worth noting that the positive sentiment from the meme coin community could fuel the asset’s recovery.

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For example, Elon Musk, the billionaire entrepreneur known for his love of memes, recently made a fuss about PEPE. In a post on X, he shared a meme about how some users on the social media platform are dealing with information and news related to PEPE.

Additionally, whale activity in the community may help determine the price direction as PEPE starts to return to previous levels.

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