The price of PepeCoin increased by 5.55% in the last 24 hours, making it one of the top-performing cryptocurrencies of the day. The trading volume during this period also surged by 129%.
What Do the On-Chain Metrics Have to Say?
Recent on-chain activity reveals a significant increase in the number of active addresses, indicating participation from new wallets. However, exchange outflows have decreased, suggesting that fewer investors are moving PEPE into cold storage. This is generally seen as a bullish indicator. However, the supply held by whales has stabilized, showing no strong accumulation trend, which may indicate caution from larger investors.
PEPE Price Analysis
Currently, PEPE is trading at $0.00001001, up 5.55% on the day and 11.84% over the week. The meme coin has broken past the crucial support level at $0.00000949 and is now testing resistance at $0.00001045. If the price cannot break above this level, it may lead to mild profit-taking.
FAQs
Why is PepeCoin trending today? PepeCoin has gained over 5.5% in the last 24 hours due to a sharp rise in trading volume and wallet activity. How high could the PEPE price go? The PEPE price faces strong resistance at $0.00001045. A breakout above this level could open the door to $0.00001296. What is the price of PEPE? At the time of press, the price of 1 PEPE is $0.00001001 with an intraday change of +5.55%.
The growing interest in PepeCoin and the recent surge in market activity highlight the potential future prospects of this asset. The price's stability above key levels may signal further upward movement.
