PEPE on the Rise: Time to Watch Out for Memecoin’s Next Moves
• PEPE, a memecoin, enjoyed a surge in its price and trading volume recently.
• Market indicators suggested that buying pressure was dominant in the market for PEPE.
• SmartMoney who made $1.27 million on PEPE spent 100 ETH to buy 128 billion PEPE at $0.000001443, indicating continued price rally.
PEPE’s Price Uptick
Recently, while most memecoins struggled, the price of Pepe [PEPE] shot up by more than 15% in the last seven days along with an increase in trading volume. Market indicators showed that buying pressure was dominant in the market for PEPE and indicated a continued price uptick.
Memecoin Pack Decoupled
A few days ago, the memecoin pack decoupled from other cryptos as their values went up. However, top memecoins like Dogecoin [DOGE] and Shiba Inu [SHIB] soon began to struggle while whales showed interest in Pepe [PEPE] by increasing accumulation. This hinted at an upcoming bull rally for PEPE?
Realistic or Not?
Despite this trend shift from other cryptos, Santiment pointed out that some memecoins like PEPE still had a market cap rise compared to Bitcoin’s flat performance at $29.6K. According to CoinMarketCap , the memecoin’s price shot up by more than 15% in the last seven days and it was trading at $0.000001353 with a market cap of over $530 million.
As SmartMoney made a move which hinted at a continued price rally; they spent 100 ETH to buy 128 billion PEPE at $0.000001443 according to Lookonchain’s tweet..This suggested that smart money was confident on the memecoin and expected its value to rise further in coming days .
All signs point towards an upcoming bull run for Pepe [PEPE], especially given how smart money is showing confidence by increasing accumulations and spending ETH on it – whether or not this will happen is yet to be seen but all eyes are now watching out for what comes next!