• Pepe Coin (PEPE) has dropped by 5% in the past 24 hours, falling to $0.00000158.
• It is now the second-biggest meme token in terms of 24-hour trading volume, with current volume of $212.
• It has established itself as a major altcoin, having come from nothing about a month ago and continues to attract the attention of whales.
Pepe Coin Price Trend Analysis
The price of Pepe Coin (PEPE) has dropped by 5% in the past 24 hours, falling to $0.00000158 as the wider crypto market sees a 0.5% decline today. PEPE’s current price means that it has lost 18% in a week and 63% since reaching an all-time high of $0.00000431 on May 5, although the meme token remains up by over 2,500% since CoinGecko began tracking it on April 18.
Current Trading Volume
PEPE movements today come as it secures its position as the second-biggest meme token in terms of 24-hour trading volume, with current volume of $212 comfortably beating that of the Shiba Inu, which is the third-biggest at $113 million. Given this high trading volume, it’s likely that PEPE will continue to see further rallies down the line, particularly if it gains any other big exchange listings.
While PEPE has lost today, its chart is now in a position where it could be due for rebounds, particularly with its relative strength index dropping below 30 earlier today. This indicates that the market is overselling it right now, as does the fact that its short-term average (yellow) has been below its long-term average (blue) for quite some time, implying that a recovery is now due. That said, it may come as a disappointment to note that PEPE has been falling through a number of support levels in recent days, meaning that it hasn’t quite bottomed out yet .
FOMO & Exchange Listings
Still, its ability to become the second-most traded meme token highlights how it has now established itself as a major altcoin, having come from nothing about a month ago. It continues to attract the attention of whales , with some stocking up on the altcoin at a discount ,in belief that it will shoot up again soon . A whale exchanged 397 ,182$APE($1 .31M ) for 748 . 2M$PEPE 1 hr ago ,the buying price is ~$0 . 000001754 . Binance ,BitMart ,KuCoin and OKX have recently announced trading pairs and services involving Pepe coin which shows increasing popularity among traders and investors alike .
Is Now A Good Time To Buy?
Given these facts there exists potential for further appreciation so long term investors should consider adding Pepe coin into their portfolio while short term traders should observe carefully before taking any action given current bearish trend and uncertainty surrounding future direction of prices .