<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/pepe-token-gains-momentum-with-significant-price-increase/" data-wpel-link="internal">PEPE Token Gains Momentum with Significant Price Increase</a><br></p>
<p style="text-align: justify">The rally of PEPE, the world’s third-largest <a href="https://en.coin-turk.com/pepe-coin-captures-attention-with-notable-price-surge/" data-wpel-link="internal">meme token</a>, is gaining speed. In the last 24 hours, PEPE token’s price increased by 12%, pushing its weekly gains above 80%. At the time of writing, PEPE’s price is trading at $0.0000166, with a market cap surpassing $7 billion, reaching a new milestone.</p> 
<h2 id="pepe-s-upward-momentum">PEPE’s Upward Momentum</h2> 
<p style="text-align: justify">The recent surge in PEPE occurred during a period of significant investor interest, with daily trading volumes soaring above $2.56 billion. PEPE has become the third-largest meme token, following Dogecoin (DOGE) and Shiba Inu (SHIB). The token not only outperformed its rival meme tokens but also surpassed the broader cryptocurrency market, achieving a 135% gain last month.</p> 
<p style="text-align: justify">The Ethereum-based cryptocurrency has provided its holders with a 12-fold return since the beginning of the year. This rally has attracted the attention of large-scale <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. On-chain monitoring platform Spot On Chain reported that a whale withdrew 1.32 trillion PEPE tokens from Binance in the last five days. At the current price, this whale’s PEPE portfolio yielded a 21% return. PEPE’s recent stellar performance aligns with the optimistic sentiment in the cryptocurrency industry following the approval of spot Ethereum ETFs.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-355995 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/pepee-1.jpg" alt="" width="1352" height="747"></p> 
<h2 id="santiment-s-pepe-report">Santiment’s PEPE Report</h2> 
<p style="text-align: justify">Pepe’s price movement continues to rise as buyers resist efforts to lower the price. Strong support has formed around the $0.00001380 level, which has been tested twice. Additionally, PEPE’s formation of higher lows and higher highs indicates a bullish trend. The price is also trading above the 50-day and 200-day simple moving averages (SMA), further strengthening the bullish outlook.</p> 
<p style="text-align: justify">On-chain analysis firm Santiment reported that the number of active addresses holding PEPE increased from 3,600 to 12,000 between May 21 and May 22, preparing PEPE for further recovery. A similar increase was observed in wallets holding PEPE in mid-May.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/pepe-token-gains-momentum-with-significant-price-increase/" data-wpel-link="internal">PEPE Token Gains Momentum with Significant Price Increase</a></h5>

PEPE Token Gains Momentum with Significant Price Increase

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