In recent days, the PEPE token has experienced a notable increase in its value, driven by several key factors.
🚀 Factors Driving the Increase of PEPE
Listings on futures platforms: The inclusion of PEPE in futures markets, such as perpetual contracts on Coinbase, has increased its liquidity and exposure, attracting more investors and speculators.
Significant token burn: The burning of approximately 6.9 trillion PEPE tokens, valued at $5.5 million, has reduced the circulating supply, generating a deflationary effect that has driven the price.
Whale and institutional investor activity: Large investors have accumulated PEPE, with significant token movements to private wallets, indicating confidence in the token's long-term potential.
Approval of Ether ETFs in the U.S.: The recent approval of Ether exchange-traded funds (ETFs) by the SEC has created a favorable environment for Ethereum-based tokens like PEPE, attracting more investors.
📊 Recent Performance
In the last 24 hours, PEPE has recorded an 11% increase, reaching a price of $0.0000129. Its trading volume in the same period has been $1.27 billion, standing out in the memecoin market.
Despite this growth, the token is still 23% below its all-time high of $0.0000167 reached on May 28, 2024.
⚠️ Risks and Volatility
It is important to highlight that, although PEPE's RSI has increased, indicating a possible overbought condition, the increase in the number of active addresses suggests sustained accumulation by long-term investors.
In summary, PEPE is showing significant momentum, supported by developments in its ecosystem and growing market confidence. However, as with any volatile asset, it is essential to proceed with caution and conduct thorough analysis before considering investments.