The Ethereum-hosted meme-coin, PEPE, is all set to erase one zero in the value and reflects a massive surge of over 150% this week. Following the market surge and the capital inflows in the Ethereum ecosystem, the PEPE price skyrockets and is heading toward the $0.00001000 mark. The meme coin made a fresh 52-week high mark of $0.00000986 on March 9, 2024.
At press time, the Pepe (PEPE) price was trading at $0.000008135 with an intraday gain of 10.99%, indicating bullishness on the charts. It has a monthly return ratio of 714.87% and 317.77% on a yearly basis. The pair of PEPE/BTC is at 0.000000000115 BTC, and the market cap is $3.46 Billion. Analysts are bullish and suggest the PEPE price will continue to grow and skyrocket above the $0.00001000 mark in the following sessions.
PEPE Reflects Bullish Momentum; Volume Remains Average
The PEPE price reflected a sharp upward move, and the trading volume multiplied significantly following the price surge. This week, the token noted a sharp rise of over 150%, and the volume skyrocketed to $3.40 Billion. However, the intraday trading volume remains lower and slips to $1.46 Billion. The price-to-volume profile signifies the rise in investor interest and suggests a positive outlook among investors.
Price Volatility and Sentiment Analysis
Since the start of this month, price volatility has kept rising, and reaching a cliff of 0.128 indicates a panic among investors to buy. However, slowly & steadily, the curve declined this week and reached the average mark of 0.03 with a steady movement in the price. The total weighted sentiment value signifies a neutral outlook, and the value remains negative at 0.176. However, the value of the total number of holders remains steady and is noted at 154k.
Overview of Social Dominance And Twitter Activity
The Social Dominance graph keeps declining and witnesses a low discussion and media reports flow rate for the past weeks. The curve slips to 0.178%, signaling a negative value. Conversely, the Twitter followers rate has replicated a sharp rise of over 20%, marked at 13.8k in the last weeks.
What Does Transaction Count and Daily Active Addresses Hints?
The Transaction count graph witnessed a decline and is noted at 769, replicating a low transaction activity this month. However, the daily active addresses count remains lower, with a value of 2341.
The circulating supply of the PEPE is 420.69 Trillion, whereas the total supply is 4320.69 Trillion. The Volume-to-Market cap ratio is 0.407, and the coin stands at 37th rank in the crypto market.
PEPE Gains Momentum; How High PEPE Can Go This Month?
On the daily charts, the PEPE token price has given a range breakout and made a fresh all-time high mark of $0.00000986, revealing the bullish momentum. Furthermore, the trend is bullish, and follow-on buying swings may continue to lift the token price and will skyrocket in the following sessions.
The Relative Strength Index (RSI) curve stays above 75, which signifies intense bullish momentum on the charts. Moreover, the MACD indicator shows a positive crossover and formed green bars on the histogram, revealing the outperformance of the token.
Summary
The memecoin PEPE price is witnessing a surge, revealing bullish momentum on the charts. The token has gained strength, is delivering an uptrend, and is trading in uncharted territory.
Technical Levels
Support Levels: $0.000007800 and $0.000008000
Resistance Levels: $0.000008900 and $0.0000010000
