Pepe is a cryptocurrency that was launched in April 2023 and has since given over 20,000% returns to it’s initial investors.
In this article, we will analyse the current price of pepecoin and find out about the next move.
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Pepe Price Journey
Pepe coin (PEPE) is an ERC-20 token memecoin built on top of the Ethereum blockchain. It has a total supply of 420.69 trillion PEPE, of which 391.79 trillion PEPE are in circulation. The coin reached its all-time high of $0.000004354 on May 5, 2023, after a massive rally that saw its market cap reach $1.6 billion at one point. The coin became really famous after giving massive returns.
However, the coin also faced some challenges, such as insider dumping, network issues, and regulatory uncertainty, which caused its price to decline sharply in the following months. As of September 20, 2023, Pepe coin is trading at $0.0000006133, with a market cap of $240 million and a 24-hour volume of $32.9 million.
Pepe Coin Price Analysis
Pepe coin is currently trading in a narrow range between $0.0000006 and $0.0000007, as investors weigh the prospects of a spot bitcoin exchange traded product (ETP) being approved in the US. The SEC has been rejecting or delaying several applications for such products, citing concerns over market manipulation, fraud and investor protection.
The court ruling triggered a rally in Pepe coin prices in the last week of August, pushing them above $0.0000007 for the first time since mid-July. However, the momentum faded quickly, as Pepe coin faced resistance at the $0.0000008 level and retreated back to around $0.0000006.
On the Daily timeframe level, the price action of $PEPE formed out falling wedge pattern level where the price action tried to break out its Resistance level and fill out its Imbalances.
Pepe Price News Roundup
Here are some of the latest news headlines related to Pepe coin:
- PEPE’s weekend pump hit +10%.
- Pepe Coin Price Surges 15% as Wall Street Memes Also Looks Set to Pump Ahead of IEO Next Week.
- Here’s Why the Pepe Price Is Pumping, While Excitement Builds for Wall Street Memes IEO – Presale Ends in Two Days.
- Pepe coin reawakens with a $14 million rise in open interest.
Conclusion
Pepe is a meme coin that pays homage to the iconic frog character that has been widely used in internet culture. The coin has experienced some highs and lows since its launch in April 2023, but it still maintains a loyal fan base and a strong community spirit.
The coin may face some challenges from regulatory uncertainty and market competition, but it may also benefit from the growing popularity of meme coins and the potential approval of a spot bitcoin ETP. Pepe coin is a volatile and risky investment, but it may also offer some rewards for those who believe in the power of meme magic.
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