When PEPE was launched in May 2023, there was uncertainty in the cryptocurrency market. Despite this, PEPE energized the entire market and ignited a minor rally. At that time, ETH network gas fees had peaked, drawing all eyes back to the world of cryptocurrency. Subsequently, PEPE, which had been on a decline, seemed to start recovering.
The State of Pepe Coin
Pepe Coin experienced an increase of over 50% in the last 24 hours, continuing to shake up the market. During this period, Pepe’s market capitalization rose by 52%, exceeding $924 million in value.
This indicates the meme coin is receiving incredible interest. On the other hand, PEPE’s 24-hour trading volume also increased by 384%, flirting with the $1 billion level.
Pepe Coin had delivered a performance that made its investors truly wealthy when it was first introduced to the market. The total supply of PEPE is calculated to be 420.69 trillion. Another significant point is that the entire supply of Pepe is considered to be in circulation already.
This means that no new entries can affect PEPE’s token inflation.
Shortly after its launch, Pepe reached its all-time high in May, but fell the following month. Its sole purpose was to reach a higher value and reward its users for being part of the meme coin.
Is Pepe Making a Comeback?
Pepe appears to be continuing its price rise. In this context, the price recently reached $0.00000219, which is getting closer to the all-time high (ATH) seen in the past. It could be said that Pepe is potentially making a comeback.
If it can match the price of BTC, witnessing a new peak in the meme coin’s history may not just be optimism.
Meanwhile, the RSI value is approaching 75 again, suggesting that overbuying in PEPE continues. During this time, Bitcoin once again surpassed the $57,000 level, and Ethereum continues to stay above the $3,200 mark. In the coming days, it will become clearer whether PEPE investors will stick with the token or prefer to take profits.
