Popular meme token Pepe Coin (PEPE) continues to outperform all other leading meme tokens in terms of gains in the past two weeks, with a price increase of over 14% in the last 24 hours. Currently priced at $0.00001021, PEPE is 26% higher than its value two weeks ago and has been the best performing meme token during this period.

PEPE's Trading Volume is Increasing
Pepe Coin's significant price increase has been accompanied by a noticeable increase in trading volume. In the last 24 hours, PEPE's trading volume reached $1,680,635,438, which is a 266.40% increase compared to the previous day. This increase in activity highlights the growing investor interest and market activity surrounding the token. The current price is significantly higher, with an 18,380.81% increase, than the all-time low of $0.00000005514 recorded on April 18, 2023.
Pepe Whale, a well-known investor, has been making significant moves in the market, which is also increasing the excitement. This whale has invested 250 billion PEPE, worth $2.67 million, in the cryptocurrency exchange. Initially, the whale bought 474.95 billion PEPE for only $1,000 and currently has made a profit of $3.6 million after the latest deposit. In contrast to PEPE's impressive gains, the original meme token, Dogecoin (DOGE), has seen a 5.51% increase in the past two weeks and is currently trading at $0.1428. According to market data, none of the top ten meme tokens were able to achieve double-digit percentage gains during the same period. Despite the low price increase, Dogecoin's derivative market trading volume is approaching $2 billion. Both long and short DOGE investors have increased their open interest (OI) rate by 4.86% in the last 24 hours.
PEPE's Signs of Rising
In the PEPE market, significant volatility has been observed in recent price movements. The 24-hour price chart shows a noticeable increase in the value of PEPE. Technical indicators may suggest an upward momentum, and the relative strength index (RSI) is approaching the overbought zone at the current level of 59.30. Additionally, the Klinger Oscillator, which recently turned positive from negative, strengthens the potential for further upward movement.
CoinGlass data shows that open positions have increased by 13.08% to $112.33 million. This increase indicates the growing confidence of investors in the future performance of PEPE. However, the rapid increase in open positions and trading volume may also indicate increased speculative activity, which can lead to increased volatility and potential corrections.
This is not investment advice.
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