PEPE Price Rose 12% In A Day Amid Market Fall: What’s Happening?

Pepe Coin Surges 12% After Decline

Pepe Coin, the frog meme coin, is experiencing a resurgence after a significant dip earlier this month. As of writing, the PEPE price stands at $0.00001355 with a market capitalization of $5.7B.

Historical Resilience

Pepe Coin has a history of recovering from dips. Last year, the coin reached an all-time high of $0.00000378 before experiencing a decline. However, the recovery was substantial.

Recent Drivers

The current price surge is attributed to increased activity on the network. Trading volume has increased by 23%, reaching $1.42B. This is largely due to increased trading on exchanges like OKX and Bitget.

Futures and Options Participation

Open interest rates, which measure futures and options contracts, have also increased by 4.06% to $140.63 million. This indicates growing interest in Pepe Coin futures and options.

Conclusion

Pepe Coin's recent price increase is a testament to its resilience and the growing interest in the token's futures and options markets.