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The PEPE digital currency has experienced notable fluctuations in recent days, with its value rising significantly, which has drawn the attention of investors and followers of the cryptocurrency market.
On December 8, 2024, PEPE reached its all-time high of $0.00002715, raising its market capitalization to over $11 billion. This increase placed it at the twentieth position among the largest cryptocurrencies globally, surpassing currencies such as Uniswap (UNI) and Litecoin (LTC) in terms of market capitalization.
This increase is attributed to several factors, most notably speculation that the U.S. Securities and Exchange Commission (SEC) may approve policy changes that facilitate yield returns for exchange-traded cryptocurrency funds (ETFs), enhancing the appeal of cryptocurrencies like PEPE.
Additionally, PEPE has seen notable activity from 'whales' (large investors), as nearly $341.5 million worth of the currency was transferred from exchanges to private wallets between November 16 and 30, 2024. This significant outflow indicates the confidence of large investors in the currency and their expectations for its value to rise in the near future.
Nevertheless, investors should exercise caution, as rapid increases may be followed by price corrections. On December 2, 2024, PEPE traded near $0.000020, with its price stabilizing over the previous 24 hours, indicating the potential for future volatility.
Overall, these recent movements of the PEPE currency reflect the volatile nature of the cryptocurrency market, prompting investors to monitor developments closely and make informed decisions.