A two-week high of $0.000001345 was attained by the Pepe token, $PEPE , as a slight upward momentum was observed in its social volume and whale activity.
Over the past 24 hours, PEPE has experienced a 15% increase and is currently trading at $0.000001335. The meme coin’s market cap is presently estimated at around $557 million, accompanied by a 24-hour trading volume of $167 million.
On Nov. 8, $PEPE was among the top 10 coins of interest mentioned by Dogecoin (DOGE) millionaire Glauber Contessoto.
Should that be a bullish news for $PEPE holders and investors?
Despite the recent surge, Pepe’s price remains 69% lower than its all-time high of $0.000004354, recorded on May 5. The asset has witnessed an 89% surge in the past 30 days, aligning with a broader bull run in the crypto market.
According to data sourced from the market intelligence platform Santiment, Pepe’s social volume experienced a remarkable 105% surge over the past day. The heightened social activity primarily originated from platforms like X (formerly Twitter), Telegram, and Reddit.
Furthermore, the count of whale transactions involving a minimum of $100,000 worth of PEPE increased by 50% in the past 24 hours. This figure rose from eight transactions on Nov. 8 to 12 at the time of writing.
Conversely, Santiment's data indicates that the number of active PEPE deposits to exchanges has declined by 33.8% since Nov. 6. This trend suggests that holders may still be awaiting a further surge in price before making withdrawals.
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