The cryptocurrency market may be feeling the chills of a latest downturn, however one meme coin is defying the freeze – Pepe Coin.
While altcoins shiver within the shadows of Bitcoin’s (BTC) latest 5% dip, PEPE is strutting its stuff with a large surge prior to now month and a close to 6% day by day climb.
This bullish habits has analysts like Crypto Tony croaking enthusiastically a few potential all-time excessive (ATH) for the meme coin.
A Beacon In The Bear Market
Unlike its altcoin brethren who crumbled in the course of the latest market hunch, the meme coin stood agency. This resilience suggests an underlying power that could possibly be attracting new buyers and boosting investor confidence.
A Productive Month
The previous month has been a very good time to be a PEPE holder. The value has jumped a cool 20%, presently sitting at $0.058. Daily buying and selling quantity additionally paints a promising image, clocking in at a noteworthy $755 million. This signifies wholesome market exercise and provides gas to the bullish hearth.
Whales Diving In: A Sign Of Things To Come?
An instance of this is able to be the massive withdrawal from Binance by handle 0xa145, which totaled 350 billion tokens, or a bit 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
Adding 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 latest value motion and inherent power.
New excessive arising for PEPE. Good to see some power and clear value motion right here pic.twitter.com/lcZTysAu4z
— Crypto Tony (@CryptoTony__) May 11, 2024
This optimistic outlook from a revered voice within the crypto world is certain to be a magnet for buyers searching for the subsequent huge gainer.
Featured picture from Reddit, chart from TradingView
