Pepe

Dogecoin

The Pepe token, <a href="https://crypto.news/price/pepe/">PEPE</a>, reached a two-week high of $0.000001345 as its social volume and whale activity witnessed a slight upward momentum.&nbsp; 
PEPE is up by 15% in the past 24 hours and is trading at $0.000001335 at the time of writing. The meme coin’s market cap currently stands at roughly $557 million, with a 24-hour trading volume of $167 million. 
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 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/11/Pepe-PEPE-11.09.47-09-Nov-2023.png" alt="PEPE's price explosion: what's behind meme coin's surge - 24" class="wp-image-14213839">
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 PEPE price, whale activity, social volume, and active deposits – Nov. 9 | Source: <a href="https://app.santiment.net/charts/JvEvTUjS__sCl" target="_blank" rel="noopener">Santiment</a>
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Despite the recent surge, Pepe’s price is still down by 69% from its all-time high of $0.000004354 on May 5. The asset recorded an 89% surge over the past 30 days as the broader crypto market entered a bull run.&nbsp; 
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According to data provided by the market intelligence platform Santiment, Pepe’s social volume skyrocketed by 105% over the past day. Data shows that the social activity mainly comes from X (formerly Twitter), <a href="https://crypto.news/tag/telegram/" data-type="link" data-id="https://crypto.news/tag/telegram/">Telegram</a>, and Reddit. 
Moreover, the number of whale transactions consisting of at least $100,000 worth of PEPE rose by 50% in the past 24 hours — hiking from only eight transactions on Nov. 8 to 12 at the time of writing. 
On the other hand, the number of active PEPE deposits to exchanges, per Santiment, has declined by 33.8% since Nov. 6. This could indicate that holders are still waiting for a further price hike before withdrawing funds. 
According to the market intelligence platform, the PEPE price-daily active addresses (DAA) divergence currently stands at 5.8%. When the DAA divergence indicator rises, it suggests a “buy” signal, per Santiment. 
On Nov. 8, Dogecoin (<a href="https://crypto.news/price/dogecoin/">DOGE</a>) millionaire Glauber Contessoto <a href="https://crypto.news/doge-millionaire-outlines-next-coins-to-target/">mentioned</a> PEPE among the top 10 coins he’s interested in. 
 Read more: <a href="https://crypto.news/toncoin-ton-emerges-as-top-gainer-strong-buy-signal-surfaces/"> Toncoin (TON) emerges as top gainer, strong buy signal surfaces </a>

PEPE’s price explosion: what’s behind meme coin’s surge

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