PEPE Token Jumps 6.56% on Binance as Trading Volume Surges Past $1 Billion Amid New Utility

PEPEUSDT has experienced a 6.56% price increase over the past 24 hours, rising from 0.00001173 to 0.00001250 on Binance. This positive price movement can be attributed to heightened market activity, as evidenced by a 78.80% surge in 24-hour trading volume to over $1.08 billion, likely driven by increased investor interest following Binance’s Alpha promotion in the Middle East and North Africa, which incentivizes daily user engagement with PEPE rewards. Additionally, significant on-chain whale activity, including large PEPE and ETH deposits to Binance, has contributed to market attention and liquidity. The recent announcement that PEPE will be accepted as a payment method on Bitnile.com’s Social Casino has also supported sentiment by highlighting growing utility for the token. Despite these short-term gains and strong weekly and monthly performance, analysts remain cautious about the near-term outlook, citing technical indicators and forecasts that suggest potential for further volatility and possible price declines in the coming weeks. Currently, PEPE ranks No. 22 among cryptocurrencies, with a total supply nearing 420.7 trillion tokens and circulating supply exceeding $5.66 billion, reflecting its significant presence and ongoing market activity.