- PEPE witnessed a surge in price and Network Growth.
Social volume was high and sentiment around the token was positive.
As an experienced analyst, I’ve closely monitored the meme coin market and Pepe (PEPE) in particular over the past few weeks. While PEPE had witnessed a decline in popularity and price, recent data from Santiment indicates that the token’s Network Growth has been on the rise. This is an optimistic sign as it suggests new addresses are showing interest in PEPE, which could lead to significant price surges in the future.
Over the past few weeks, Pepe (PEPE) hasn’t fared well, with its following decreasing significantly compared to other similar coins. Consequently, the meme coin has seen considerable volatility in its pricing.
According to AMBCrypto’s interpretation of Santiment’s findings, the expansion of PEPE‘s network was on an uptrend.
The emergence of fresh inquiries regarding new addresses for the token implies a potential substantial rise in its value in the future.
Whales swim towards PEPE
Another factor that could help PEPE rally would be the accumulation of whales.
Based on information from Lookonchain, a major investor transferred approximately $1.26 million in USDC to acquire around 142.96 billion PEPE tokens at an average price of $0.000008831 per token.
Over the past six months, this whale has executed a total of seven successful PEPE trading transactions, amassing a profit of $915,000.
As of the current moment of reporting, PEPE was priced at $0.00000868 on the markets, representing a 2.75% increase from its value over the past 24-hour period.
As an analyst, I’ve observed that after touching the $0.00000448 mark on the 14th of April, the meme coin displayed a series of new highs in price followed by new lows, which is a common characteristic of an uptrend or bull market.
As a crypto investor, I’ve noticed that the price experienced some fluctuations during this timeframe, but the general direction continued to be upward.
Moving ahead, the price of PEPE may reach the $0.00000926 mark in the future before undergoing another price adjustment.
As a financial analyst, I’ve observed that the Chaikin Money Flow (CMF) for PEPE has been decreasing over the past few days and currently stands at -0.03. This signifies that the inflow of capital into PEPE may have started to dwindle.
At present, PEPE‘s RSI, or Relative Strength Index, stood at 62.55. This figure suggests that the stock’s bullish trend was strong but hadn’t yet reached the point of being overbought.
A surge in popularity
As a crypto investor, I’ve noticed that PEPE‘s social media presence plays a significant role in determining its price trend. Lately, there has been a noticeable increase in its social volume, suggesting heightened interest and buzz surrounding the token on various social media platforms.
Realistic or not, here’s PEPE’s market cap in DOGE’s terms
The sentiment analysis weighed heavily in favor of PEPE, implying that more positive than negative remarks were present during the time of assessment.
If this trend continues, the meme coin’s price may continue to rally in the near future.
Read More
- DOGS PREDICTION. DOGS cryptocurrency
- SQR PREDICTION. SQR cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- KNINE PREDICTION. KNINE cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- UXLINK PREDICTION. UXLINK cryptocurrency
- METIS PREDICTION. METIS cryptocurrency
- CLOUD PREDICTION. CLOUD cryptocurrency
- STG PREDICTION. STG cryptocurrency
- USD HKD PREDICTION
2024-05-06 14:15