Pepe Coin Soars Over 250% – Will March Bring More Surprises?
March 02 2024 - 5:31AM
NEWSBTC
There are lots of surprises during the bull season. Occasionally,
during a bull run, coins that have been falling or thought to be
dead can rise again, and tokens with defective models can
self-correct. In the instance of Pepe Coin (PEPE), which was
thought to have lost value and utility but has recently gained
attention and is amassing a large number, this is the situation.
Related Reading: Ethereum Bulls Get Aggressive As Traders Set
Sights on $4,000 Amid Market Frenzy With Bitcoin getting close to
its peak price and the market rallying, the cryptocurrency space is
a flurry of activity. Memes have particularly profited from this
renaissance because of their widespread popularity and low cost,
which draw in a diverse range of investors. Pepe Coin Climbs Amid
Increased Memecoin Interest Pepe Coin has stood out in this surge
of interest, coming in third place in the meme coin rankings, only
behind Shiba Inu (SHIB) and Dogecoin (DOGE). This rise suggests
that investors are becoming more interested. PEPE had a very
diverse trajectory and became a billion-dollar asset at periods
when there was speculation of a huge trend reversal. The market cap
rise of the memecoins was increasing dramatically. Source:
Coingecko The weekly and daily chart patterns, when analyzed, show
consistent growth that might perhaps reach new heights. February
saw the start of Pepe’s value climb, which culminated in a 200%
spike in just one week. Today, Pepe reached a top of $0.0000041,
and registered an impressive 255% rally in the weekly timeframe.
The coin’s performance was equally notable in the 24-hour
timescale, with a nearly 50% gain. The weekly chart shows Pepe’s
value is still above the critical resistance level, indicating that
the market is confident and that there may be further rises ahead.
PEPE seven-day sustained price rally. Source: Coingecko The bulls
will regain momentum and challenge the price’s upper resistance
level of $0.00000315 if the market pushes the price above the
barrier level of $0.00000280. Additionally, if the bulls maintain
their hold on the market, it will rise further and get ready to
test its upper boundary of $0.00000350. Meme Coin Profits Up In the
meantime, a scenario of note occurred when six prominent wallets
made trades and sold approximately 2 trillion $PEPE coins between
them. Sales for the transaction totaled about $4.37 million, while
profits came close to an astounding $2 million. Token exchanges of
this size demonstrate the extent of market activity around $PEPE
during this upswing. Total crypto market cap is currently at $2.262
trillion. Chart: TradingView.com Although lacking the technological
sophistication of Ethereum, its merits reside in its active
participation by the community and the capacity for social media to
go ubiquitous. Similar to other meme coins, Pepe Coin is subject to
significant fluctuations in value due to celebrity endorsements and
community sentiment. This renders it a potentially lucrative
investment opportunity for individuals adept at navigating the
tumultuous realm of internet meme culture. With Pepe Coin
experiencing a remarkable 250% surge, all eyes are on what March
holds for this unpredictable cryptocurrency. As investors eagerly
anticipate further developments, the question lingers: Will Pepe
Coin continue to defy expectations and unveil more surprises in the
coming month? Related Reading: BNB Barrels Past $400, As Binance
TVL Nears $5 Billion – Details Featured image from Pexels, chart
from TradingView.com
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