The popular third-largest crypto meme coin Pepe (PEPE) is making waves and gaining widespread attention from crypto enthusiasts. As of December 10, 2024, PEPE's performance has outpaced major cryptocurrencies, showing impressive results against market trends.
PEPE Current Price Momentum
As of the time of writing, PEPE's trading price is close to $0.00002725, having increased over 3.50% in the past 24 hours. During the same period, its trading volume grew by 16%, indicating heightened participation from traders and investors compared to the previous day.
However, this moderate price increase comes at a time when most cryptocurrencies (including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL)) are struggling to gain momentum.
PEPE Technical Analysis
With the recent price surge, PEPE has reached a critical level of $0.00002750, which is crucial for meme coins. According to CoinPedia's technical analysis, if PEPE's four-hour candlestick closes above $0.00002750, it is likely to surge 30% to $0.000036 in the coming days.
On the other hand, if PEPE fails to maintain above the $0.000024 level, this bullish argument may weaken. PEPE's Relative Strength Index (RSI) indicates that an upward rebound may occur in the coming days, as it remains below the overbought territory.
Significant Outflow of Funds
In addition to technical analysis, on-chain analytics firm Coinglass reports that whales and investors appear to be offloading their holdings on exchanges. PEPE's spot inflow/outflow data shows a significant outflow of funds from exchanges over the past two days.
