PEPE Price Rebounds with 5% Surge as $1.2 Billion Flows In – Find Out Where Traders Are Moving Their Money Next
Popular meme coin Pepe ($PEPE) is rebounding today, after some adverse overnight price action, adding 5% to its price overnight to change hands at $0.00001259 while 24-hour trading volume hit $1.5 billion.
This balances out a 5% dip in the early hours of the morning UTC.
Altogether, many Pepe holders are in profit, with those who have held the token for a week being up 5%. Pepe’s price is about 37% more than it was a fortnight ago, about 18% more than it was thirty days ago, and a staggering 822% more valuable than it was this time last year.
This means the frog-based meme coin that was inspired by the Max Furie webcomic character of the same name is currently outdoing the world’s biggest meme coin, Dogecoin ($DOGE).
$DOGE rallied only 0.7% over the week, and while its seven-day gains of 7.7% are larger than Pepe’s over the period, Dogecoin’s 14-day (23%), 30-day (14%) and 365-day (77%) are markedly lower than Pepe’s.
In spite of today’s small rally, Pepe is still stuck in a trough relative to its price over the last three months.
At its current price it is within spitting distance of hitting a recent stubborn resistance level of $0.000013, as indicated by the red line below.
However, Pepe pulled back 27% over the last two months from an all-time high of $0.00001717 set on May 27. Whether Pepe can reach that price level again will depend on a favorable news cycle.
Many are hoping the possibility of the Federal Reserve reducing interest rates soon, the success of yesterday’s spot Ethereum ETF launches, and the likelihood of pro-crypto Republican Presidential candidate Donald Trump’s reelection in November will all have a positive catalytic effect across the market.
Pepe’s price is notoriously hard to predict as it has no
