Why Pepe now? PriceJumps 6% As trading volume of triple, the whale activity forms
The meme-inspired cryptocurrency Pepe saw its price jump more than 6% less than 24 hours while traders were stacked at a breakout rally that saw trading volumes almost triple, according to the technical review data model of CoinDesk Research.
The token rose from $ 0.000009138 to $ 0.000009627 during the session, with volatility extending more than 7%. The volume climbs 5.61 trillion tokens, which is more than 1.89 trillion days average, pushing the price through established resistance and holding more than $ 0.000009600 by closing the move.
The rally comes in the middle of a broader move to the crypto market. The wider coindesk 20 (CD20) rose more than 4.3% in the past 24 hours period.
Some of the capital entering the market appear to flow into high-risk altcoins such as Pepe and imaginary presale projects, lift prices throughout the memecoin space. The CoinDesk Memecoin Index (CDMEME) Saw a close 5% increase at the same period.
According to the data from NansenPepe’s price rally arrived after the whale accumulation in the last 30 days. The Top 100 non-exchange addresses in Ethereum added 3.4% to their weather holders, while exchange wallets saw a 2% collapse in Baby handling.
The support is now seated near $ 0.00000900, with a resistance that forms around the session high of $ 0.000009681. Integration -with the price at the end of the rally may indicate another move ahead.
Open interest for Pepe Futures products temporarily rising to this day stands near $ 600 million market Coinglass Data.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
