PEPE price has seen notable growth as it attempts to recover from the previous sell-off. According to data from CoinMarketCap, PEPE is about to remove a zero from its price in a move that could mark the biggest change it has seen in weeks.
PEPE performance index
At the time of writing, PEPE is up 0.32% over the past 24 hours to $0.000009242. Although the growth rate was higher in the previous hours, unexpected volatility is catching up to it. However, if the meme coin achieves additional record growth, it could push the price towards the $0.00001 mark.
PEPE's growth prospects are clear, however, some metrics could stand in the way. The most obvious is trading volume. At the time of writing, interest in PEPE, as seen in volume, is low, with the index down 22.3% to $534,911,945.
Aside from volume, PEPE's historical data suggests the token may recover little this month. Insights from Cryptorank show that PEPE has an average sell-off rate of 23% this month. This data comes from a record from July 2023, when the token closed down 23.8%.
So far this month, it is down more than 22%.
PEPE economics are reasonable.
PEPE has recently demonstrated positive economics despite being a meme coin with a huge circulating supply. From moving tokens in and out of exchanges to buying it with whale addresses, PEPE has always attracted high net worth individuals.
PEPE also consistently appears in token-related index products within its niche. This recognition is necessary for its sustained relevance in the broader industry. In all its strides so far this year, PEPE has managed to keep its market cap at $3,879,229,405.
