The Surge of PEPE: What's Driving the Price Uptrend?

PEPE 的激增：是什么推动了价格上涨趋势？

The cryptocurrency market is witnessing a surge in activity, with prices soaring and investor enthusiasm reaching new heights. Among the top performers in this bullish trend is PEPE, which has experienced a remarkable price increase. This raises the question: what factors are propelling PEPE's price upward, and can it sustain this momentum?

加密货币市场活动激增，价格飙升，投资者热情达到新高度。在这一看涨趋势中表现最好的是 PEPE，其价格大幅上涨。这就提出了一个问题：哪些因素推动PEPE的价格上涨，并且能否维持这种势头？

Recent Price Movement of PEPE Coin

PEPE币近期价格走势

Currently, PEPE Coin trades at $0.00001422, with a 24-hour trading volume of $2.38B. Its market capitalization stands at $5.98B, while it maintains a market dominance of 0.24%. Over the last 24 hours, the PEPE price has increased by 3.76%.

目前，PEPE Coin 交易价格为 $0.00001422，24 小时交易量为 $2.38B。其市值为$5.98B，同时保持0.24%的市场主导地位。过去 24 小时内，PEPE 价格上涨了 3.76%。

The all-time high for Pepe Coin was recorded on May 23, 2024, reaching $0.00001569. Conversely, its lowest price occurred on April 14, 2023, plunging to $0.0000101057. Post-all-time high, the lowest price has been $0.00001347 (cycle low), while the highest price post-cycle low has reached $0.00001448 (cycle high). The current sentiment around Pepe Coin's price prediction is bullish, with the Fear & Greed Index indicating 74 (Greed).

Pepe Coin 的历史最高记录于 2024 年 5 月 23 日达到 0.00001569 美元。相反，其最低价格出现在 2023 年 4 月 14 日，暴跌至 0.0000101057 美元。历史最高价已达到 0.00001347 美元（周期低点），而周期后最低价已达到 0.00001448 美元（周期高点）。当前围绕 Pepe Coin 价格预测的情绪是看涨的，恐惧与贪婪指数为 74（贪婪）。

Pepe Coin has a circulating supply of 420.69T PEPE out of its maximum supply of 420.69T PEPE.

Pepe Coin 的最大供应量为 420.69T PEPE，其循环供应量为 420.69T PEPE。

Reasons Behind PEPE's Price Increase

PEPE涨价原因

PEPE's price underwent consolidation from May 13th to May 21st before experiencing an explosive breakout. This surge was primarily driven by the approval of the spot Ethereum ETF, a significant catalyst given Pepe's status as an ERC20 token.

PEPE的价格从5月13日到5月21日经历了盘整，然后经历了爆炸性突破。这一激增主要是由于现货以太坊 ETF 的批准推动的，考虑到 Pepe 作为 ERC20 代币的地位，这是一个重要的催化剂。

The current price action for Pepe remains bullish, with buyers defending against attempts by bears to drive prices down. A solid support base has formed around the $0.00001380 mark, having been tested twice already.

佩佩目前的价格走势仍然看涨，买家抵制空头压低价格的企图。经过两次测试，0.00001380 美元关口附近已经形成了坚实的支撑基础。

Furthermore, Pepe's price action demonstrates a pattern of forming higher lows and higher highs, indicating an upward trend. Additionally, Pepe's price sits comfortably above both the 50-day and 200-day simple moving averages (SMA), signaling further bullish sentiment.

此外，佩佩的价格走势显示出形成更高低点和更高高点的模式，表明上涨趋势。此外，Pepe 的价格轻松位于 50 日和 200 日简单移动平均线 (SMA) 上方，表明进一步看涨情绪。

Resistance and Support Levels

阻力位和支撑位

As Pepe continues its ascent, key resistance levels to monitor are at $0.00001439 and $0.00001576. Surpassing these levels would propel Pepe into a price discovery phase.

随着 Pepe 继续上涨，需要监控的关键阻力位为 0.00001439 美元和 0.00001576 美元。超过这些水平将推动佩佩进入价格发现阶段。

Conversely, if bears gain control, crucial support levels lie at $0.00001108 and $0.00000777.

相反，如果空头获得控制权，关键支撑位位于 0.00001108 美元和 0.00000777 美元。

Can Pepe Coin Hit $1 in June?

Pepe Coin 6 月能突破 1 美元吗？

Considering PEPE's exceptional performance over the past year, with its price surging by an impressive 891%, it's evident that this cryptocurrency has outperformed a significant portion of the market. In fact, PEPE has surpassed 94% of the top 100 crypto assets, including stalwarts like Bitcoin and Ethereum. This exceptional growth trajectory is further supported by PEPE's current position above the 200-day simple moving average, indicating sustained bullish momentum.

考虑到 PEPE 在过去一年中的出色表现，其价格飙升了 891%，令人印象深刻，很明显，这种加密货币的表现优于市场的很大一部分。事实上，PEPE 已经超过了前 100 名加密资产中的 94%，其中包括比特币和以太坊等中坚力量。 PEPE 当前位于 200 日简单移动平均线之上的位置进一步支撑了这一非凡的增长轨迹，表明持续的看涨势头。

Moreover, with 17 green days out of the last 30, comprising 57% of the period, PEPE demonstrates consistent upward movement. Trading near its cycle high, PEPE exhibits resilience and potential for further growth. Additionally, its high liquidity, reflected in its substantial market capitalization, provides a solid foundation for continued price appreciation. Based on these factors, it's plausible to anticipate that PEPE could indeed continue its momentum even in June.

此外，在过去 30 个交易日中，有 17 个交易日呈绿色，占该时期的 57%，PEPE 表现出持续的上升趋势。 PEPE 交易接近周期高点，表现出弹性和进一步增长的潜力。此外，其庞大的市值反映出其高流动性，为价格持续升值提供了坚​​实的基础。基于这些因素，可以预期 PEPE 即使在 6 月也能继续保持其势头。