PEPE Sees $2.13B Volume Surge and 9.65% Market Cap Jump as Traders Eye Breakout

Pepe (PEPE) has experienced notable trading activity and price consolidation following a recent parabolic rise, with the current price at $0.0000145 and a 24-hour trading volume of approximately $2.13 billion. The asset’s market capitalization stands at $6.02 billion, reflecting a 9.65% increase over the last 24 hours, and there are approximately 430,840 token holders, indicating robust market participation.

The recent price action is attributed to a combination of factors, including a significant rally from May 7 to May 12, increased whale accumulation, and heightened trading interest as reflected in the strong volume-to-market-cap ratio of 35.46%. Technical analysis shows that PEPE is consolidating near key moving averages, with traders closely watching resistance levels for signs of a potential breakout. The ongoing Binance promotion, allowing users to earn PEPE tokens, may also be contributing to increased engagement and liquidity in the market. Overall, the current environment is characterized by consolidation after a sharp rally, with market sentiment remaining cautiously optimistic pending a decisive move above resistance.