Meme-inspired cryptocurrency Pepe climbed more than 2.5% in the last 24-hour period, raising the Memecoin sector measured by the coindesk memecoin index (CDMEME), which climbed 2.24% at the same time.
The price jumped from $ 0.00000969 to a high $ 0.00001027, with trading volumes crossing 314 billion tokens during a rapid price transfer at the final time of trading, according to the CoinDesk’s technical research review data model.
The trading activity at $ 0.00001000 to $ 0.00001003 range created a temporary floor, with a resistance that forms near $ 0.00001007. This type of technical setup usually signifies accumulation, a signal investor builds positions rather than flipping for fast income.
Pepe’s move also releases a broader cryptocurrency market, as measured by CoinDesk 20 (CD20) Index, which increased by 1.8% in the past 24 hours.
The increase appears to be also associated with growing whale accumulation. Data from Nansen It is shown that the top 100 Pepe addresses in the Ethereum network have added 4.28% to their holdings in the last 30 days, as the exchanges have seen their PEPE holdings of 2.15% at the same time.
Open interest for Pepe Futures products temporarily rises to stand up near $ 645 million markets according to Coinglass Data.
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