Pepe Coin has surprised the market by reaching new heights despite experiencing significant liquidations. Its price soared to a new all-time high (ATH), making it a focal point in the cryptocurrency community.
Despite facing challenges like substantial liquidations in the last 24 hours, Pepe Coin continues to advance in its cryptographic journey, achieving notable milestones. Today’s landmark achievement underscores optimism about the token’s future prospects and its ongoing development.
Pepe Coin Surpasses $6 Billion Market Cap and Hits New ATH
According to the latest data from CoinMarketCap, Pepe Coin has surged past a $6 billion market cap, securing the 20th position on May 23. In a close competition with Litecoin, the meme token proudly boasted a market cap of $6.11 billion, reaching as high as $6.16 billion earlier in the day.
This milestone highlights the significant growth and value of the meme coin, reflecting its recent achievement of new all-time highs (ATHs). Pepe Coin set a new ATH of $0.00001467 today, defying broader market expectations.
Despite facing substantial selling pressure and experiencing massive liquidations, Pepe Coin managed to achieve this new ATH, fueling optimism among investors about its future potential. The continued interest in the meme crypto suggests that investors are closely monitoring it for potential gains in the coming days.
PEPE Coin Shows Resilience Amid Market Dynamics
As of the latest update, PEPE’s price has gained 5.02% over the past 24 hours, reaching $0.00001444. Despite starting the day with bearish trading, the token quickly surged to unprecedented levels.
Data from Coinglass indicates $8.46 million in PEPE liquidations within the past 24 hours, highlighting increased selling pressure. However, despite these liquidations, the token managed to achieve a new all-time high (ATH).
In contrast, futures and options open interest (OI) increased by 2.41%, while the 24-hour derivatives volume decreased by 24.64%. These factors likely contribute to PEPE’s heightened 24-hour volatility.
Additionally, the Relative Strength Index (RSI) has entered the overbought territory, currently at 76. This suggests that the token may be poised for a correction in the near future. Investors are closely monitoring these indicators amid PEPE’s ongoing price movements.
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