The crypto asset PEPE has recently experienced a massive 75% price surge in just 24 hours, attracting the attention of crypto enthusiasts worldwide. Trading volume for this coin also surged, surpassing $10 billion, which is roughly 20% more than its market capitalization. This sudden rise in popularity raises questions about what is driving the rally and what could be next for PEPE.
Pepe Coin is currently valued at $0.00002274, with a 24-hour trading volume of $14.65 billion and a market cap of $9.57 billion, giving it a market dominance of 0.31%. In the last 24 hours, PEPE has risen by 74.75%. The coin reached its all-time high of $0.00002545 on November 14, 2024, while its all-time low was $0.0101057, recorded on April 14, 2023.
The recent price spike can be attributed to increased visibility and demand following its listings on Robinhood and Coinbase on November 14. These platforms bring significant attention and accessibility to a wide audience, particularly retail investors who can now easily trade PEPE. Looking forward, PEPE’s price could maintain its momentum if the listings continue to drive interest from both individual and institutional traders.
However, there could be ups and downs as the current hype might cool off without new updates or partnerships to sustain the excitement. PEPE has shown remarkable growth over the past year, rising by 1,843% and outperforming 88% of the top 100 crypto assets. This level of sustained performance, along with its position above the 200-day simple moving average, suggests a strong long-term trend that many investors look for when determining growth potential.
PEPE’s high liquidity relative to its market cap supports the possibility of further price increases. High liquidity generally provides a buffer against extreme volatility, allowing PEPE to maintain stability even during heavy trading periods. Given these factors, PEPE’s price has room to rise further, potentially reaching new highs if it sustains its current momentum.
However, it’s important to consider that continued growth will depend on ongoing demand, market conditions, and PEPE’s ability to maintain engagement within the crypto community. With the right mix of factors, PEPE could climb significantly higher, although traders should watch for volatility as market excitement ebbs and flows.
