The Recent Surge in PEPE’s Price
PEPE, a popular meme coin, has recently seen a significant increase in its price, rising by over 15% in the past 24 hours. This surge in price indicates a potential bullish run for the cryptocurrency, which may benefit investors. Currently, PEPE’s price sits at $0.0000013, reflecting the recent increase.
Influence of Dogecoin Millionaire
The rise in PEPE’s price could be attributed to the endorsement of Dogecoin millionaire Glauber Contessoto, who included PEPE in his top 10 cryptocurrency investments. Contessoto sees similarities between PEPE and Dogecoin, which initially attracted him to both meme coins.
Market Performance and Activity
Despite the recent surge, PEPE is still down by over 69% from its all-time high in early May. However, the overall bullish sentiment in the crypto market has contributed to an 89% increase in PEPE’s price over the past month. On the other hand, the number of active addresses for PEPE has declined, indicating a potential shift towards other trending altcoins.
Daily Active Addresses Divergence
Santiment’s data shows that PEPE’s daily active addresses divergence currently stands at 5.8%, suggesting a potential “buy” signal due to this indicator increasing.
Hot Take: The Future of PEPE
While PEPE has experienced a notable surge in its price recently, it still faces challenges such as declining active addresses. However, endorsements from influential figures and overall market trends may continue to impact its performance in the coming months.
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