The cryptocurrency market displays positive momentum, with a market cap increase of 2.48% reaching $3.46 trillion. Amid this growth, Pepecoin draws the attention of traders and large investors.
Crypto Market Cap
Currently, the cryptocurrency industry's market cap stands at $3.46 trillion, supported by a trading volume of $140.68 billion. This indicates a growing appetite for risk-on assets, with memecoins playing a pivotal role, showing a surge of 6.45% to a total market cap of $59.94 billion.
Whale Accumulation
According to Santiment, there has been a sharp increase in large transactions, including transfers over $100k and $1M. Between June 29 and July 9, whales accumulated approximately 9 trillion PEPE tokens worth over $90M, representing a 1.75% increase in their holdings. This accumulation coincides with a 2.9% drop in exchange supply, suggesting that large investors are moving tokens into cold storage, preparing for a breakout.
Pepecoin Price Analysis
Pepecoin’s price has risen to $0.00001108, positioned above the 0.618 Fibonacci level, which is a key technical zone for trend reversals. Currently priced at $0.00001108, intraday highs reached $0.00001127 with trading volume spiking to $1.34 billion. The RSI is recorded at 56.98, steadily increasing, leaving room for further growth potential, while the next major resistance lies at $0.0000123.
The cryptocurrency market shows positive trends as evidenced by the rise of Pepecoin and interest from large investors. Current technical parameters and market conditions suggest further growth opportunities.
