Meme-based cryptocurrency PEPE has been attracting attention with its recent launch. PEPE, which increased by 20% in the last 24 hours, reached a new peak of $ 0.00002622. This price increase increased its market value to over $11 billion, making PEPE the third most valuable meme coin.
Intensive Purchase of Whales Contributed to the Rally
Whales, known as big investors in the cryptocurrency market, played a key role in PEPE’s recent rise. According to on-chain data, whales have made heavy purchases in recent weeks, reducing the supply in the market and putting upward pressure on the price. This move contributed significantly to PEPE’s market performance.
Additionally, the increase in trading volume in the derivatives market is noteworthy. The volume of PEPE’s derivative transactions increased by 78%, reaching $1.67 billion. In this process, 39% in open positions and 39% in k positions. Moreover, the increase in the trading volume in the derivatives market is noteworthy. The volume of PEPE’s derivative transactions increased by 78%, reaching $1.67 billion. During this period, there was an increase of 39% in open positions and 39% in open positions, reaching a total of 368 million dollars. These developments show that investor interest is high and price movements are supported.
Analysts Expect: Additional Increase of 150%
Cryptocurrency analyst Javon Marks stated that the price will rise even further, saying, “PEPE may increase by 150% in the coming weeks.” This increase estimate over PEPE’s current market price is closely followed by investors.
PEPE’s performance has also brought to the fore its competition with SHIB, which currently has a market value of $19 billion. While the difference of $8 billion is seen by some as a difficult target to reach, it is thought that market dynamics can close this gap.
PEPE, which attracted attention with its recent rally, created great excitement among market players and traders. It remains a matter of curiosity how market conditions will affect this performance in the coming weeks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
