PEPE Price Targeting A New ATH In May 2024; What’s Happening?
PEPE has again proved why it is among the most famous meme coins, as the token has been continuously surging for days and is aiming for a new all-time high. Less than two months ago PEPE price reached the ATH record of $0.00001074. And with its current surge, it is just 19% away to achieve this target.
In the last 24 hours, the token has surged 2.24% and 23.64% in just a week, lifting its value from a low of $0.000006051 to its current $0.000008627. Not only that, it has a market cap of $3.64B, which is also up by 2.74%, and a trading volume of $720.79M.
Factors Pushing The PEPE Price To ATH
With the Bitcoin surge to $64K, the rest of the crypto market is also walking in the same direction. At the time of writing, Bitcoin is trading at $64,329.25 after a 3.27% surge this week. Because of that, the global market cap has surged to $2.38 Trillion after 2.22%.
This overall market performance has pushed the PEPE value, but a few other factors also created this current price surge. Eventually, it will also help PEPE in achieving its new ATH.
Bullish Nature of PEPE
The technical analysis has indicated a surge in the buying of the PEPE. As per the moving averages data, PEPE is in the strong buy zone. The MACD level is also indicating a buying zone for the token. With the increased buying pressure in the market, the PEPE price is continuously surging.
Also Read: Pepe Coin Rivals to Invest Revealed
The token is above the 200-day SMA (simple moving average), indicative of sustained positive price momentum. In the last 30 days, the token was in green for 18 days, which is another sign of the bullish sentiments among the PEPE holders.
Moreover, the PEPE holders have increased in the last one-month duration. On April 7th, around 199,268 holders were present, but as per today’s data, more than 251,308 holders are present.
PEPE’s Perpetual Listing On Coinbase
Coinbase has already announced the listing of the 1000PEPE-PERP listing on the network at the start of April. But after a few delays, the listing was finished by the end of April, which created a positive sentiment for the meme coin. It has become fully operational on the Coinbase International exchange and the Coinbase Advanced. More importantly, it offers a variety of market, limit, stop, and stop limit orders.
Our 1000PEPE-PERP market is now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. pic.twitter.com/hO32wARVFu
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 23, 2024
Final Thought
PEPE price continues with the same trend and has surged relatively close to the ATH value. Many investors believe PEPE might create a new ATH record in the next few days because of current bullish indicators. PEPE is already among the most profiting cryptocurrencies, as its profit has been the highest in the last year.
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