Pepe Coin ($PEPE ), a memecoin that became well-known earlier this year, has had a price surge of roughly 32% over the last seven days and 10% over the last 24 hours, according to #cryptonews search results.
The general rebirth of the #cryptocurrency industry, with the global #crypto market cap rising by over 3% every day and the majority of digital currencies seeing notable gains, could be one factor contributing to PEPE's recent surge.
Whale behaviour may also be a contributing element to the memecoin's successful performance. 1.08 trillion PEPE coins were purchased by two newly established wallets for a total of over $800,000. Additionally, an investor who had previously made over $2.30 million from #trading the asset returned to the ecosystem by purchasing $645,000 worth of PEPE.
The price of Pepe has also increased by 20% in the last day, breaking through the upper limit of a negative technical formation at $0.00000071, and open interest has increased by 13.92 million, from $12.57 million to $26.49 million. A 320% increase in trade volume raises the likelihood of a further northward surge with a 15% climb in sight. These search results suggest that whale activity and the general resurgence of the cryptocurrency market are the main causes of Pepe Coin's notable price gain.
