Frog-themed crypto asset PEPE has been grabbing headlines following its tremendous run that saw it spike by over 18% in just 24 hours. Notably, PEPE’s remarkable price actions came amid the excitement of a possible market rebound, evidenced by many digital assets recording price appreciations.
At the time of press, popular cryptocurrency tracker platform CoinGecko revealed that the global crypto market is up by about 2.2% in the past 24 hours, with an estimated $2.41 trillion worth. Bitcoin’s dominance has dropped from yesterday’s estimated 53% to approximately 50.56%, underscoring a spontaneous price swing in altcoins’ favor as BTC only registered a meager 1.1% increment in the last 24 hours.
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PEPE Surges Over 18%, Outperforming Top Ranking Cryptos
On its part, PEPE is changing hands at about $0.00001264, reflecting an 18.2% appreciation from the previous day. Currently, the meme coin is ranked the twenty-third most valuable cryptocurrency, having displaced Dai (DAI), Litecoin (LTC), and Polygon (MATIC) to ascend from the twenty-sixth spot to its current position with its estimated $5.3 billion market cap and a 24-hour trading volume of $1.08 billion.
While most other digital assets appear to record increments only in the short-term variables, PEPE has remained profitable in its 7-day-to-date and 14-day-to-date variables, with spikes of about 20.7% and 5.3%, respectively. Notedly, the frog-themed crypto registered a 19.5% decline in its 30-day-to-date statistics; it invariably implies that while it must have dropped like every other cryptocurrency, its recovery was rapid.
Hence, the tremendous over 18% price surge that saw PEPE exceed every top 50 ranking cryptocurrency in its 24-hour price actions could stem from gain accumulations over the past couple of weeks.
Current Run Might Culminate In An Imminent 45% Gain For PEPE
Following PEPE’s remarkable run, a crypto analytical platform has predicted an imminent 45% surge that would probably play out in three days from now if PEPE sustains its current momentum.
Taking to its verified X handle, Coinpedia Markets stated that PEPE recently exceeded the $0.00001142 price level, converting it to a potent support. The analytical platform added that PEPE’s next target following a new breakout will catalyze the token’s ascent to the $0.00001494 price level.
Furthermore, the digital assets analytical platform stated that holding above the $0.00001494 target will result in another 45% gain within a three-day interval. For context, a 45% increment will see PEPE surge from $0.00001494 to about $0.000021, implying an impressive appreciation from its $0.000017 all-time high (ATH).
$PEPE just now flipped the $0.00001142 level for support, currently waiting for a breakout for continuation to $0.00001494. 🚀
Holding above $0.00001494 could give another 45% gains in 3 days. #PEPE Bull & Bear power and all the Moving averages showing buy signal for $PEPE 🔥 pic.twitter.com/vSF1yjjKRq
— Coinpedia Markets (@MarketCoinpedia) June 25, 2024
PEPE Holders’Making Profits At Current Price Soars To Almost 90%
According to data analytical outlet IntoTheBlock, PEPE remains a profitable project despite existing for barely a year. Interestingly, the frog-themed crypto asset” Holders Making Money at Current Price” data revealed that about 86% of the coin owners are scooping profits, 1% are neither losing nor gaining, while only 13% are recording losses.
Other relevant statistics from IntoTheBlock block noted that PEPE boasts a large percentage of whale investors at about 72%. The “Holders’ Concentration by Time Held” variable reflected 25% of investors holding for less than a year, 60% held between a month and a year, and 14% have owned PEPE for less than a month.
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