1. The memecoin continued to ride the bullish wave and registered a breakout this week.
2. PEPE coin has offered huge gain to its investors, as it hits fresh ATH mark.

The Frog-themed memecoin Pepe (PEPE) approached the ATH mark and delivered consistent upmove amidst the market volatility.

memecoin 繼續乘勢而上，並在本週實現突破。在中間持續上漲。

A rounding bottom formation breakout was registered in the last trading sessions. PEPE coin traded in an uptrend and revealed consistent higher high swings, soared over 104% this month.

在最後一個交易日中出現了圓底形態突破。 PEPE 代幣呈現上升趨勢，並呈現持續較高的高位波動，本月飆升超過 104%。

Fueled by the strong trading activity and significant network growth of PEPE, investors have held the memecoin and showed their willingness to buy Pepe coin.

在 PEPE 強勁的交易活動和顯著的網路成長的推動下，投資者持有 memecoin 並表現出購買 Pepe 幣的意願。

Despite the market volatility, the memecoin market significantly outperformed the crypto market, and PEPE coin has been one of the top performing among its peers.

儘管市場波動較大，memecoin 市場的表現仍明顯優於加密貨幣市場，PEPE 幣一直是同業中表現最好的貨幣之一。

At press time, PEPE price was $0.00001358 with an intraday rise of 22.10%, reflecting strong bullish momentum on the charts. It has a monthly return ratio of 130.29% and 890.27% yearly, revealing a strong short-term uptrend.

截至發稿，PEPE 價格為 0.00001358 美元，盤中漲幅達 22.10%，圖表上反映出強勁的看漲勢頭。月收益率為130.29%，年收益率為890.27%，短期上漲趨勢強勁。

PEPE Coin Skyrockets after Ether ETF News

以太坊 ETF 新聞發布後，PEPE 幣飆升

The possibility of Spot Ether ETF approval news fueled strong buying momentum in the memecoin market, most in the PEPE coin, which surged over 25% intraday. Other than positive news, the technicals of the PEPE coin revealed a bullish trend and hinted that the bull rally might continue ahead.

現貨以太 ETF 核准訊息的可能性推動了 memecoin 市場的強勁買盤勢頭，其中大部分是 PEPE 幣，盤中飆升超過 25%。除了利多消息外，PEPE 代幣的技術面顯示出看漲趨勢，並暗示牛市反彈可能會持續下去。

Going forward, the MVRV ratio stood at 38%, signifying that most of its investors have gained huge profit and selloff is due, which may hit anytime will lead to a correction soon.

展望未來，MVRV比率為38%，顯示大部分投資者已獲得巨額利潤，拋售即將到來，隨時可能出現回檔。

Source: TradingView

來源：TradingView

The daily charts replicate the breakout and the memecoin has overtaken the 78.6% Fibonacci level.

日線圖複製了這一突破，memecoin 已經超越了 78.6% 的斐波那契水平。

Additionally, a sharp spike in the trading volume over 84% to $3.38 Billion and the market cap soared over 3.20% to $5.75 Billion. Meanwhile, the total supply of the PEPE coin is 430.69 trillion.

此外，交易量大幅飆升超過 84% 至 33.8 億美元，市值飆升超過 3.20% 至 57.5 億美元。同時，PEPE幣的總供應量為430.69兆枚。

What Does Price Volatility and Sentiment Indicate?

價格波動和情緒顯示什麼？

Following the sharp price rise, the price volatility soars over 54% to 0.084 mark, revealing the investor speculation.

隨著價格大幅上漲，價格波動率飆升超過54%至0.084關卡，揭露了投資者的投機行為。

Source: Santiment

資料來源：Santiment

Meanwhile, the sudden drop in the weighted sentiment signifies the profit booking at the highs may be seen shortly, as investors are looking to secure their gains.

同時，加權情緒的突然下降意味著，由於投資者希望確保收益，因此可能很快就會在高點獲利回吐。

Futures OI Data Outlook

期貨OI數據展望

The derivative data reveals the massive long additions and the open interest spiked over 34.77% to $164.88 Million in the last 24 hrs.

衍生性商品數據顯示，過去 24 小時內，多頭大量增加，未平倉合約飆升超過 34.77%，達到 1.6488 億美元。

Source: coinglass

來源：硬幣玻璃

Recent tweet on X, the memecoin displayed an intense surge in transaction activity over the last weeks. Over the past few weeks, a significant increase in transaction activity was noted. The value soared over 22% to 2672 mark this week.

最近在 X 上發布的推文顯示，memecoin 在過去幾週的交易活動急劇增加。過去幾週，交易活動顯著增加。本週該指數飆升逾 22% 至 2672 點。

Per the @Spotonchain tweet, BlockTower Capital moved over 202.2B PEPE worth $2.79 Million to exchange, as the memecoin hit ATH mark and profit booking may hit anytime.

根據 @Spotonchain 推文，BlockTower Capital 轉移了價值 279 萬美元的 202.2B PEPE 進行交換，因為 memecoin 達到了 ATH 大關，利潤預定可能隨時達到。

2 hours ago, BlockTower Capital moved 202.2B $PEPE ($2.79M) to Cumberland for profits as the price soared by 25% to a new ATH! If truly buying and selling now, the VC would make $569K (+25.6%) after only 7 days! Follow @spotonchain and set alerts for the BlockTower Capital… pic.twitter.com/hKOgU90q7g

2小時前，BlockTower Capital將202.2B $PEPE（279萬美元）轉移至Cumberland以獲得利潤，價格飆升25%至新的ATH！如果現在真正進行買賣，僅 7 天後 VC 就能賺到 56.9 萬美元（+25.6%）！關注 @spotonchain 並為 BlockTower Capital 設定警報… pic.twitter.com/hKOgU90q7g

— Spot On Chain (@spotonchain) May 22, 2024

— Spot On Chain (@spotonchain) 2024 年 5 月 22 日

Per the @lookonchain tweet, a transaction from an unknown wallet to exchange over $2.53 Million. Also, he was lucky to gain more than 7300x within a few minutes of trade execution.

根據 @lookonchain 推文，來自未知錢包的交易金額超過 253 萬美元。此外，他很幸運在交易執行後幾分鐘內就獲得了超過 7300 倍的收益。

An early buyer of $PEPE deposited all 182.9B $PEPE($2.53M) into #Binance 6 hours ago. This guy spent 0.22 $ETH($462) to buy 324.9B $PEPE on Apr 15, 2023, and sold it all for $3.4M. He was lucky enough to turn $462 into $3.4M, a gain of 7,368x! Address: https://t.co/o4UcGKVHEh pic.twitter.com/zq03iGzcAe

$PEPE 的早期買家於 6 小時前將全部 182.9B $PEPE（253 萬美元）存入#Binance。此人於 2023 年 4 月 15 日花費 0.22 $ETH($462) 購買了 324.9B $PEPE，並以 340 萬美元的價格全部出售。他很幸運，將 462 美元變成了 340 萬美元，收益達 7,368 倍！網址：https://t.co/o4UcGKVHEh pic.twitter.com/zq03iGzcAe

— Lookonchain (@lookonchain) May 22, 2024

— Lookonchain (@lookonchain) 2024 年 5 月 22 日

Source: X

來源：X

Conclusion

結論

The Pepe (PEPE) price trades in the bullish trajectory and might face profit booking ahead. However, the trend is bullish and sellers need adequate strength to attain dominance.

佩佩（PEPE）價格處於看漲軌跡，可能面臨提前獲利預定。然而，趨勢是看漲的，賣家需要足夠的實力才能獲得主導地位。

The possibility of a spot Ether ETF has fueled enthusiasm and price rallies, particularly in meme coins, including PEPE, as investors eagerly anticipate the potential impact on the market.

現貨以太坊 ETF 的可能性激發了人們的熱情和價格上漲，尤其是包括 PEPE 在內的 meme 代幣，因為投資者熱切地預期這對市場的潛在影響。