bullish

PEPE

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<p dir="ltr">PEPE, the frog-themed meme coin, is riding the broader bullish wave on the market today.&nbsp;<a href="https://coinmarketcap.com/currencies/pepe/" rel="noopener noreferrer nofollow">Per</a> data from CoinMarketCap, PEPE has rallied by 2.7% in 24 hours to $0.00001038. However, as of writing time, the token has reduced its rally over the week after paring off its gain with a 0.9% slump. The contrasting outlook plunges PEPE into a very unique growth stance.</p>
<h2 id="insight-from-pepe-s-volume">Insight from PEPE's volume</h2>
<p dir="ltr">On-chain data shows a massive uptick in PEPE’s 24-hour trading volume. CoinMarketCap’s data pegs this metric at $742.55 million, up by 51% within this period. With this bullish metric, it becomes evident that PEPE has generated a massive interest among investors overall.</p>
<p dir="ltr">However, the major catch lies in its mildly sliding price growth. Despite the 24-hour surge, the token is down on the weekly front, a trend which, if sustained, might grow and trigger a reversal in the price of PEPE to add another zero.</p>
<p dir="ltr">Other PEPE metrics do not promise to avert the former projection of a likely price drawdown.&nbsp;<a href="https://u.today/148-trillion-pepe-exits-binance-in-epic-whale-shift-details" rel="noopener noreferrer nofollow">PEPE whales</a>, for instance, have yet to buy the token. IntoTheBlock data shows this metric is down 16.44%, with only $42 million bought in 24 hours.</p>
<p dir="ltr">This outlook, including the&nbsp;<a href="https://u.today/142-trillion-pepe-open-interest-offsets-12-price-fall" rel="noopener noreferrer nofollow">PEPE Open Interest</a> shift, shows that one metric might need to properly describe or showcase what comes next for an asset, including PEPE.</p>
<h2 id="which-is-too-soon-pepe-rally-or-sell-off">Which is too soon - PEPE rally or sell-off?</h2>
<p dir="ltr">With the $0.00001 price coming off as psychologically important, many are watching whether a surge or fall is imminent for PEPE.</p>
<p dir="ltr">The token is about 39% away from its all-time high (ATH) of $0.00001718 and presents two possibilities. It could continue soaring, riding on the "Uptober" rally sentiment to finally breach the $0.00005 level in the midterm. However, if PEPE cannot retain the&nbsp;<a href="https://u.today/99-trillion-pepe-in-24-hours-whats-happening" rel="noopener noreferrer nofollow">volume boost</a> and other mildly positive metrics, it might fall below the dreaded price market.</p>
<p dir="ltr">Overall, the PEPE community remains positive that brighter days for the token lie ahead beyond October.</p> <a href="https://u.today/pepe-volume-skyrockets-51-but-theres-a-catch" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

PEPE Volume Skyrockets 51%, But There's a Catch

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