The cryptocurrency market could be feeling the chills of a current downturn, however one meme coin is defying the freeze – Pepe Coin.
Whereas altcoins shiver within the shadows of Bitcoin’s (BTC) current 5% dip, PEPE is strutting its stuff with a large surge prior to now month and a close to 6% each day climb.
This bullish conduct has analysts like Crypto Tony croaking enthusiastically a few potential all-time excessive (ATH) for the meme coin.
A Beacon In The Bear Market
In contrast to its altcoin brethren who crumbled through the current market droop, the meme coin stood agency. This resilience suggests an underlying power that might be attracting new buyers and boosting investor confidence.
A Productive Month
The previous month has been time to be a PEPE holder. The worth has jumped a cool 20%, presently sitting at $0.058. Every day buying and selling quantity additionally paints a promising image, clocking in at a noteworthy $755 million. This means wholesome market exercise and provides gasoline to the bullish fireplace.
Whales Diving In: A Signal Of Issues To Come?
An instance of this may be the massive withdrawal from Binance by handle 0xa145, which totaled 350 billion tokens, or a bit of over $3 million. This motion reinforces the constructive feeling by signaling at the potential of worthwhile swing buying and selling alternatives.
PEPE is presently buying and selling at $0.000008. Chart: TradingView
Analyst Chimes In
Including to the bullish refrain is outstanding crypto analyst Crypto Tony. He predicts a brand new excessive for the meme coin, citing the meme coin’s current worth motion and inherent power.
$PEPE / $USD – Replace
New excessive arising for PEPE. Good to see some power and clear worth motion right here pic.twitter.com/lcZTysAu4z
— Crypto Tony (@CryptoTony__) Could 11, 2024
This optimistic outlook from a revered voice within the crypto world is bound to be a focus for buyers searching for the subsequent huge gainer.
Featured picture from Reddit, chart from TradingView
