Market value exceeds $6 billion

Share This Post

The cryptocurrency market was surprised today when the Pepe Coin, known for its frog-inspired design and popularity as a meme, achieved a significant milestone. Despite facing significant liquidations in the past 24 hours, the token continues to climb, reaching new heights in its journey.

What is fueling this unexpected boom? Can Pepe Coin maintain its momentum? Read on to find out!

Market value parameter

Pepe Coin has now reached a market cap of over $6 billion, ranking 20th in the CoinMarketCap rankings as of May 23. With a market cap of $6.11 billion, the token peaked at $6.16 billion. This increase pushes Pepe Coin ahead of competitors like Internet Computer Protocol, cementing its position as a strong player in the cryptocurrency market.

Pepe Coin also achieved a new all-time high (ATH) price of $0.00001467. Despite significant selling pressure and a massive liquidation of $8.46 million, the token defied market expectations and continued its ascent.

This resilience shows increasing investor optimism, with many anticipating further gains.

The market is standing strong

Starting the day on a bearish note, Pepe Coin quickly gained momentum, with its price rising by 5.02% over the past 24 hours. High selling pressure indicates a volatile market, yet Pepe Coin’s ability to remain strong under these conditions gives investors confidence, attracting more attention to this meme cryptocurrency.

Futures, Options, and Volatility

Open interest for futures and options rose by 2.41%, while 24-hour derivatives volume fell by 24.64%. These market changes add to Pepe Coin’s 24-hour volatility, providing potential opportunities for traders.

I look forward

As Pepe Coin continues its upward trend, analysts remain optimistic. Renowned market analyst Crypto Chase commented:

“Upside breakout after over 2 months of consolidation. Looks very strong with $ETH and $PEPE. Any pullback to ~0.029 (if offered later) would be a buying opportunity imo.

However, with the Relative Strength Index (RSI) now in the overbought zone, a bounce may be possible, which could provide buying opportunities for investors.

Also Check: Top Meme Coins Picks Starting From The Next 10x Raise

It looks like Pepe the Frog has the last laugh… all the way to the bank!

spot_img

Related Posts

Best Memecoins to Accumulate as Crypto Market Turns Bullish!

With Bitcoin successfully reclaiming the $67K level, mid-cap altcoins...

Best Memecoins to Accumulate as Crypto Market Turns Bullish!

With Bitcoin successfully reclaiming the $67K level, mid-cap...

Cryptocurrency market in recovery mode

The cryptocurrency market has seen ups and downs this...

Crypto Market Holds Crypto Today: Ethereum ETF, Bitcoin, Memecoins

The past 10 days have seen an average daily...

Cryptocurrency Analyst Says This New Meme Coin Could Be The Next Babycoin

Step aside, baby, a new phenomenon has entered the...

What’s Next for Top Memecoins as Bitcoin Hits $68K?

As Bitcoin price heads towards a new all-time...
- Advertisement -spot_img