The PEPE cryptocurrency has shown remarkable performance in recent weeks, experiencing both high peaks and significant corrections.
Price and Volatility:
In May 2024, PEPE reached an all-time high of $0.0000172, representing 151% growth during that month. However, since that peak, the price has fallen 19%, settling around $0.000014 in June (FX Empire) (#Decrypt).
The recent correction could be close to ending, as a significant decrease in trading volume has been observed, which could indicate an upcoming bullish rally (FX Empire).
Listings and Popularity:
PEPE has been listed on Coinbase perpetual futures, which boosted its price by 16% recently (Decrypt).
The cryptocurrency has also outperformed several other major coins, reaching the 18th spot in market capitalization, with a market value of approximately $7.02 billion (#Binance).
Market Trends:
PEPE trading volume has seen a significant increase, especially following the return of "Roaring Kitty," a key figure in the GameStop stock frenzy of 2021, which has renewed interest in memecoins (#Cointelegraph).
Technical Indicators:
Technical indicators show an RSI (Relative Strength Index) in overbought territory, suggesting that a correction could be in the offing in the near term. Key support levels are found around $0.000015 and $0.000014 (Binance).
In summary, while #pepe⚡ has demonstrated impressive performance and has captured the market's attention, it also presents high volatility and risk, typical of #Memecoin🤑🤑 ins . Investors are advised to exercise caution as these assets may experience rapid and significant fluctuations.
