 hits $11.48B market cap, fueled by whale activity and exchange listings. Will it reach a new ATH? Explore key support levels and trends.){kind=link}
- PEPE crypto reaches a market cap of $11.48 Billion, overtaking Uniswap and Litecoin.
- The meme coin market has grown to $134.48 Billion, driven by PEPE, DOGE, SHIB, and others.
- Whale activity, with $1.14 Billion added to PEPE holdings, signals institutional interest.
Meme coin PEPE crypto (PEPE) has surged to new heights, surpassing a market cap of $11.48 Billion and now ranking 20th in market cap, ahead of Uniswap (UNI) and Litecoin (LTC). This achievement comes amidst a renewed wave of optimism in the crypto market, with Bitcoin (BTC) crossing the $100,000 mark.
The broader meme coin sector has seen explosive growth, with the total meme coin market cap reaching $134.48 Billion. This was driven by strong performances from major coins like PEPE crypto, DOGE, BONK, SHIB, WIF, and others.
This surge reflects growing enthusiasm among crypto investors. These crypto investors view meme coins not only as speculative assets but as symbols of unexpected, community-driven shifts in the market.
Intraday, the overall market has turned bearish as traders lock in profits. PEPE crypto still maintains strong gains. At the time of writing, it is trading at $0.00002480, after peaking at $0.00002754, and still boasts a solid market cap of $10.42 Billion, despite its earlier high of $11.48 Billion.
Continue reading for more insights.
What Drove Pepe to Such Spectacular Lengths?
Meme coins have experienced significant growth this year, particularly with the launch of the controversial Solana-based platform Pump.fun. This allows anyone to create a token for free.
Amid this surge, PEPE crypto has become one of the most closely followed tokens, with analysts attributing its rise to a mix of whale activity and strong market interest. Crypto expert Ali Martinez reported that whales increased their PEPE crypto holdings by $1.14 Billion over the weekend.
Historically, such large-scale accumulation has often preceded price rallies, with whales setting the stage for upward momentum.
PEPE’s upward momentum has been further fueled by its recent listings on major U.S. exchanges. Binance.US has now added PEPE trading, joining Coinbase and Robinhood, and enabling trading against Tether (USDT).
These listings are crucial as they enable millions of investors to trade PEPE. Moreover, these listings lead to higher trading volume.
On-chain data also reveals positive sentiment, with 98% of PEPE holders currently in profit at the current price and no holders in the red. Approximately 25% of holders have kept their PEPE for over a year, while 53% have held it for one to twelve months.
As Bitcoin leads the market rally, meme coins like PEPE crypto are benefiting from investor enthusiasm. This also leads to the reshuffling of the top digital assets by market rank.
Is a New PEPE ATH on the Way?
With the current surge in interest, many are wondering if Pepe Coin price could reach new all-time highs (ATH). Its recent exchange listings and the backing from large investors have certainly boosted its appeal. The growing community participation further strengthens the narrative that PEPE might break previous records.
However, like all meme coins, Pepe Coin price is susceptible to market volatility and speculative trading. While current trends seem promising, investors must proceed cautiously in this rapidly changing market environment.
The coming days will be crucial, as PEPE price is nearing its ATH. If the selling pressure continues to lock in profits, $0.000022 will become an important support level. A break below this could lead to a further decline toward $0.000018. These levels could provide an opportunity for a new rally if the price stabilizes and shows strong recovery.
Additionally, should $0.000018 also fail to hold, the 50-day and 200-day EMA bands may offer the final support for a potential reversal.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
