Pepe Coin Price Prediction | Pepe Coin Soars to Glorious Heights

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Positive news about Pepe Coin Price has emerged, potentially impacting its price. If you’re interested in or hold Pepe tokens, this information is crucial. Recent data suggests a chance to profit significantly from Pepe coin. Its current price is approximately 143 units with five zeros and has risen by 4.1% in the last 24 hours. The 24-hour trading volume stands at $218 million. Pepe coin holds a market cap of over $604 million, ranking it as the 76th most valuable cryptocurrency with a circulating supply of 420 trillion coins. Keep in mind that prices may change and this isn’t financial advice.

Pepe Coin Price

Pepe Coin Gains Traction as Bitfinex and Kraken Support its Trading

Pepe coin, despite facing challenges, is gaining traction as more exchanges list the project. Bitfinex, a leading digital asset trading platform, has announced its plans to support Pepe token – a tribute to the well-known internet meme coin featuring Pepe the Frog. Launched in April 2023 with unique features such as no-tax policy, scarcity maintenance through burn mechanism and a redistributive system, this meme coin quickly became popular.

Henry Child, Head of Tokens at Bitfinex, expressed excitement about introducing Pepe tokens into their ecosystem. He believes this development marks significant progress towards mainstream adoption for Pepe. Starting May 22nd, deposits for Pepe will be accepted on Bitfinex and can be traded against US dollars and Tether tokens. However, it’s important to note that US residents are prohibited from holding or operating an account on Bitfinex’s platform.

Kraken, a well-known cryptocurrency exchange, has recently added Pepe to its offerings. The listing of Pepe on Bitfinex and Kraken follows a trend of other notable exchanges, including Binance, Okx, Bitget, and Kucoin, offering access to the popular meme coin. Binance currently holds the largest share of Pepe’s trading volume at just over 30%. The inclusion of tokens like Pepe signifies the increasing interest and investment in meme coins. However, Coinbase and Robinhood have not yet listed the Pepe token. It is likely that they will add it to their platforms in due course.

Pepe Coin Price Plunges as Top Whales Cash Out and Holding Interest Declines

Pepe coin price plummeted 65% in two weeks as top whales cashed in their profits, signaling a decline in holding interest among them. In early May, the market capitalization of Pepe coin, inspired by the popular internet meme “Pepe the frog,” reached $1.8 billion. However, just two weeks later, it has fallen to around $665 million.

The primary reason for this massive drop is that the largest Pepe holders have sold their tokens en masse. On-chain analyst Wuligy at Dune Analytics noted that the top 15 addresses with considerable earnings and returns sold most of their holdings recently – some even offloading 100% of their reserves during the crash.

This sell-off has also led to a significant decrease in hourly transactions and trading volumes since its peak on May 5th. Despite this downturn, Pepe’s daily holder count hasn’t dropped dramatically but rather plateaued at over 115,000 users as of May 23rd – indicating new users are still joining amid declining prices.

However, it should be noted that some of these addresses might belong to existing holders or represent exchange wallets due to multiple crypto exchanges listing Pepe since its launch – with Bitfinex being the latest addition.

Pepe Coin Price Potential of 20% Bounce Amid Bear Market

Pepe coin, a recent meme coin trend, is currently at a technical support confluence level, indicating that a modest 20% bounce may be in play. Despite its exceptional short-term performance and amassing a significant following, maintaining higher price points may prove difficult due to the ongoing bear market and holders looking to sell off.

CoinGecko data reveals Pepe’s value has dropped in recent times: down by 4.3% in the last 24 hours, 10.8% in the last week, and 12.7% over the past two weeks. Since its all-time high on May 5th, it has decreased by 66%. With an impressive one-month ROI of 5,500%, early investors have seen substantial returns since its launch.

Prominent crypto exchanges like Binance have listed Pepe; however, questions arise regarding whether the meme coin frenzy is over due to declining prices and trades for not only Pepe but also Dogecoin and Shiba Inu—all trading in red. For prices to rise again within this realm of meme coins including Pepe itself, favorable market conditions are necessary.

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