Pepe Price Surges 45% Amid Strong Ethereum Rally
PEPE Price Surge
- PEPE has risen by 45%, reaching a market cap of $5.32 billion.
- Daily trading volume increased by 400% to $3.87 billion.
Future Potential
- Market analysts suggest further growth is possible, with a target of a $10 billion market cap.
- Prominent community member Fyre remains optimistic about PEPE's trajectory.
“This chart's got 'send me to the moon' energy written all over it.”
Market Dynamics
- PEPE future open interest rose by 15.5% to $523 million.
- 24-hour liquidation reached $20 million, with $13 million in short liquidations.
- Current trading price is $0.00001091, surpassing its 200-day Exponential Moving Average (EMA).
Meme Coin Sector Growth
- Other meme coins like Dogecoin, Shiba Inu, and BONK gained 12-17% amid PEPE's rise.
- The increase follows Ethereum's rally above $2,200, marking a significant recovery.
- 65% of traders on Binance hold long positions on PEPE, indicating strong market sentiment.