Price: $0.39457 1.3863%
Market Cap: 57.96B 1.785%
Volume (24h): 10.41B 0.4%
Dominance: 1.785%
Price: $0.39457 1.3863%
Market Cap: 57.96B 1.785%
Volume (24h): 10.41B 0.4%
Dominance: 1.785% 1.785%
  • Price: $0.39457 1.3863%
  • Market Cap: 57.96B 1.785%
  • Volume (24h): 10.41B 0.4%
  • Dominance: 1.785% 1.785%
  • Price: $0.39457 1.3863%
Home > Information news > Is PEPE’s Volatility a Prelude to New Highs or Further Declines?

Is PEPE’s Volatility a Prelude to New Highs or Further Declines?

Release: 2024/06/04 18:06 Reading: 380

Original author:TheNewsCrypto

Original source:https://coinmarketcap.com/community/en/articles/665ee453d17e7070a0142cce

Is PEPE’s Volatility a Prelude to New Highs or Further Declines?

PEPE Experiences Volatility After ATH, Reflecting Market Turbulence

The renowned frog-themed memecoin, PEPE, has endured a turbulent period marked by a 3.50% price decline over the past 24 hours and a 5.20% decrease in trading volume. This volatility follows an impressive surge to an all-time high (ATH) of $0.00001718 just eight days ago. Over the past week, PEPE has seen a 10.21% decrease, mirroring the broader market's bearish sentiment.

Despite the recent downturn, PEPE exhibited strong performance in mid-May, consistently hitting new ATHs and securing its position as the third-largest memecoin by market capitalization. Over a month, the token surged by 65%, highlighting its potential and attracting significant attention from investors and traders.

Whale Profits Soar

A notable event in the PEPE market is the recent activity of a prominent whale. This investor deposited 365.96 billion PEPE, valued at $5.3 million, into Binance. Remarkably, this whale had withdrawn the same amount of PEPE from MEXC in mid-December 2023, when it was worth $494,000. This transaction highlights an extraordinary profit of $4.82 million and an astonishing ROI of 976% in less than six months.

Sentiment Fluctuates

Meanwhile, analysts observe fluctuating weighted sentiment around PEPE on social media platforms, indicating a lack of consistent narrative. The community's mood has been swinging between bullish and bearish within days, suggesting ongoing volatility in PEPE's market behavior.

Bulls' Outlook

Technical analysis of PEPE's daily chart reveals a bearish trend, with the 9-day EMA at $0.00001461 and the current price at $0.00001423. The daily RSI stands at 58, indicating a neutral position. If bulls regain momentum, the price could rise to $0.00001562, with a subsequent target of $0.00001735.

Conversely, if bearish forces prevail, the price may fall to $0.00001353. As PEPE navigates through these choppy waters, market participants remain divided on its short-term outlook, though its recent history of rapid gains keeps it firmly on the radar of crypto enthusiasts.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.