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 <p class="is-style-lead">The Pepe token, PEPE, reached a two-week high of $0.000001345 as its social volume and whale activity witnessed a slight upward momentum.&nbsp;</p>
 <p>PEPE is up by 15% in the past 24 hours and is trading at $0.000001335 at the time of writing. The meme <a rel="noopener noreferrer nofollow" title="coin’" href="https://thebittimes.com/tag/coin.html">coin’</a>s market cap currently stands at roughly $557 million, with a 24-hour trading volume of $167 million.</p>
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   PEPE <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, whale activity, social volume, and active deposits – Nov. 9 | Source: Santiment
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 <p>Despite the recent <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a>, Pepe’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> is still down by 69% from its all-time high of $0.000004354 on May 5. The asset recorded an 89% <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> over the past 30 days as the broader crypto market entered a bull run.&nbsp;</p>
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 <p>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), Telegram, and Reddit.</p>
 <p>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.</p>
 <p>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 <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> hike before withdrawing funds.</p>
 <p>According to the market intelligence platform, the PEPE <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>-daily active addresses (DAA) divergence currently stands at 5.8%. When the DAA divergence indicator rises, it suggests a “buy” signal, per Santiment.</p>
 <p>On Nov. 8, Dogecoin (DOGE) millionaire Glauber Contessoto mentioned PEPE among the top 10 coins he’s interested in.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pepe-s-price-explosion-what-s-behind-meme-coin-s-surge-tbt69609.html">https://thebittimes.com/pepe-s-price-explosion-what-s-behind-meme-coin-s-surge-tbt69609.html</a></p>

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

TheBitTimes

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