The crypto market has been dropping over the past few months, but new indicators are showing that things are about to bounce back for Pepe coin. If you have any interest in Pepe coin or hold any Pepe coins, then you need to see this. So, what is the latest news that has recently come out about Pepe? And how will all of this affect the price of Pepe coin? Let’s dive in.
Pepe Coin Price Update
On July 14th, Pepe coin’s price is around 880 units (with five zeros). Pepe’s price is up 2% in the last 24 hours, with a 24-hour trading volume of $500 million. The token currently has a market cap of over $3.7 billion, ranking it as the 27th most valuable cryptocurrency. Please keep in mind these prices might have changed by the time you read this article.
Why Pepe Coin is Gaining Attention
- Early Investor Profits: An early Pepe investor reaped a massive 570x profit. This has reignited market interest and speculation in the volatile crypto market.
- Whale Activity: Large-scale transfers of Pepe coins have been noted, with significant whale activity accumulating millions of dollars worth of Pepe tokens.
- Network Growth: There has been a notable uptick in Pepe’s network growth, indicating a rise in the number of new addresses being created. This suggests growing interest and potential bullish sentiment for Pepe coin.
Factors Influencing Pepe Coin’s Price
- Market Recovery: With the wider crypto market showing signs of recovery, Pepe coin is expected to benefit from this positive sentiment.
- Whale Accumulation: The accumulation of Pepe coins by whales often indicates confidence in the token’s future performance.
- Trading Volume: Although Pepe’s trading volume is currently low, a fresh trigger could significantly boost interest and trading activity.
- Patterns in Price : The Falling wedge pattern is resembling a similar breakout structure which we witnessed back in April 2024 which lead to a price pump around 4X
- Lows on RSI : Just like the price the momentum suggests a similar situation for Pepe coin, The divergence has been zero with RSI which makes the prediction even more convincing.
Conclusion
Pepe coin is showing strong potential for gains, driven by early investor profits, whale activity, and network growth. If you’re interested in $PEPE or already hold some, now might be a good time to pay attention to these developments. Keep an eye on the market and consider joining a crypto community to stay updated with the latest news and predictions.
You should know that memecoin price surges depend on more than one factor. If you want to dive deep into them, make sure you checkout this article
