Yesterday’s trends are old news now – the crypto world sure moves fast!
Today’s hot topic is PeiPei, a vibrant red frog-shaped token that’s been making waves. Launched just a month ago on Uniswap, PeiPei is experiencing massive growth and is already listed on major exchanges like Poloniex, LBank, and Gate.io.
Here’s everything you need to know!
Bye Bye Rise
PeiPei has become one of the biggest gainers, ranking first among the top 500 gainers. In the past 24 hours, this red frog coin has seen a 51.70% increase in trading volume.
Since its inception in June, PeiPei has seen a staggering rise of 28,938.53%, reaching its all-time high (ATH) yesterday.
Understanding Market Trends
Currently, PeiPei is trading on its major moving averages (MAs). After a 19.58% decline from its all-time high, the meme token is now trading at $0.063129. The Fibonacci tool shows a major resistance at $0.063848.
The current price is in a support zone, with the strongest daily support at $0.062502. If PeiPei price declines from its current support level, the next support level, according to the Fibonacci tool, will be near $0.062940.
Just one month after its launch, PeiPei has gained nearly 27,000 holders. At its peak, PeiPei recorded a market cap of $163.17 million, and its current market cap is $136.01 million.
The MACD is indicating a strong uptrend, but the RSI is indicating that the price is oversold and may need a correction. If the price declines, the 0.062940 level should act as support according to the Fibonacci tool.
PeiPei’s official Twitter account has quickly gained a large following, boasting a community of 15.7k followers. The official account posted a screenshot of a large purchase of 68.60 ETH by an anonymous whale, which is a very positive sign. Dexscreener shows high trading rates for this token.
If the developer maintains the momentum, Red Frog has a great chance of reaching a market cap of $300 million to $500 million in a short time. However, meme coins are very volatile, so investors should be careful.
PeiPei’s rapid rise and growing community point to its potential, but only time will tell if this red frog can leap to new heights.
Do you think PeiPei has the potential to become the next big meme coin?