Ethereum

Token

Shiba Inu

The PEPE

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/pepe-token-price-surges-12" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Token Price Surges 12%</a><br></p>
<p style="text-align: justify">The PEPE token, the third largest meme cryptocurrency, has seen a remarkable price jump of 12% over the past 24 hours, bringing its weekly gains to over 80%. Currently trading at $0.0000166, PEPE’s market capitalization has exceeded $7 billion, marking a significant milestone.</p>
<h2 id="what-is-driving-pepe-s-price-up">What is Driving PEPE’s Price Up?</h2>
<p style="text-align: justify">Recent interest from investors has driven PEPE’s price upward, with daily trading volumes surpassing $2.56 billion. This makes PEPE the third-largest <a href="https://en.bitcoinhaber.net/shiba-inu-tokens-volatile-market-journey-amid-bitcoins-pressure" data-wpel-link="internal" rel="noopener noreferrer nofollow">meme token</a> behind Dogecoin (DOGE) and Shiba Inu (SHIB). Over the past month, PEPE has outperformed other meme tokens and the broader cryptocurrency market, achieving a 135% gain.</p>
<p style="text-align: justify">Since the beginning of the year, PEPE, which operates on the Ethereum blockchain, has yielded a 12-fold return for its holders. Notably, large investors have taken an interest in PEPE, with a significant whale recently withdrawing 1.32 trillion PEPE tokens from Binance, resulting in a 21% return at the current price. This surge coincides with positive sentiment in the cryptocurrency market, spurred by the approval of spot Ethereum ETFs.</p>
<h2 id="how-is-pepe-s-bullish-trend-sustained">How is PEPE’s Bullish Trend Sustained?</h2>
<p style="text-align: justify">Santiment, an on-chain analysis firm, noted that PEPE’s price continues to climb as buyers resist downward pressures. A strong support level has been established at $0.00001380, tested twice. The formation of higher lows and highs, along with prices trading above the 50-day and 200-day simple moving averages (SMA), signals a bullish trend.</p>
<p style="text-align: justify">The number of active addresses holding PEPE surged from 3,600 to 12,000 between May 21 and May 22, suggesting further recovery. A similar rise was noted in mid-May, indicating sustained interest in the token.</p>
<h2 id="investor-insights">Investor Insights</h2>
<ul>
 <li>PEPE’s trading volumes have exceeded $2.56 billion daily.</li>
 <li>A significant whale recently withdrew 1.32 trillion PEPE tokens from Binance.</li>
 <li>PEPE’s price is trading above both the 50-day and 200-day SMAs.</li>
 <li>The number of active PEPE addresses quadrupled within a day in late May.</li>
</ul>
<p style="text-align: justify">These insights suggest PEPE has strong support and continued investor interest, pointing to potential further gains.</p>
<p style="text-align: justify">PEPE’s recent performance underscores its growing influence in the crypto market, driven by robust trading volumes, significant whale activity, and a broadening <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investor base</a>. The token’s bullish trend appears well-supported by technical indicators and increased active addresses, suggesting more positive movement ahead.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/pepe-token-price-surges-12" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Token Price Surges 12%</a></h5>

PEPE Token Price Surges 12%

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