PEPE, the frog-themed meme coin, has achieved a big milestone by surpassing a $10 billion market cap for the primary time. This surge got here after PEPE’s value spiked by 18% within the final 24 hours, briefly reaching a brand new all-time excessive.
Because of this improve, PEPE has now surpassed Litecoin (LTC) in market cap standings. Right here’s a breakdown of the occasions that led to this outstanding achievement.
The Ethereum Meme Coin Climbs to the twenty first Place
On Saturday, December 7, PEPE had a market cap of round $9.07 billion with a value of $0.000021. Nonetheless, a robust 18% surge pushed the value to $0.000027 earlier than barely dipping to $0.000025, the place it at present sits.
This value motion propelled PEPE’s market cap to a formidable $10.67 billion. With 420 trillion tokens in circulation, the value improve clearly performed an important function in attaining this milestone.
Because of this, PEPE now ranks because the twenty first most useful cryptocurrency, surpassing Litecoin, whose market cap stays at $10 billion.
BeInCrypto’s evaluation reveals that PEPE’s latest market cap milestone might be attributed to a big spike in community exercise. Information from IntoTheBlock highlights a rise in lively, new, and zero-balance addresses—key metrics that time to rising demand for the token.
Energetic addresses observe the variety of distinctive wallets participating in transactions, whereas new and zero-balance addresses measure first-time customers and people including PEPE to their wallets.
The rise in these metrics alerts larger consumer engagement and bullish momentum. If this development continues, PEPE won’t cease at reclaiming its all-time excessive however doubtlessly see additional value beneficial properties.
PEPE Value Prediction: One other All-Time Excessive Shut
On the every day chart, the Shifting Common Convergence Divergence (MACD) has moved from unfavourable to optimistic. The MACD is a technical oscillator that measures momentum through the use of the distinction between the 12 and 26 Exponential Shifting Averages (EMA).
When the 12 EMA (blue) rises above the 26 EMA (orange), the momentum is bullish. Then again, if the 26 EMA crosses above the 12 EMA, the development is bearish. As seen beneath, the shorter EMA has crossed above the longer one, suggesting that the meme coin’s worth may surpass the resistance at $0.000025.
If this occurs, the PEPE’s value would possibly rally towards $0.000030. Nonetheless, if bears tug the value again from $0.000025, this prediction won’t come to go. In that situation, the value would possibly drop to $0.000015, and PEPE’s market cap may slide beneath $10 billion.
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