Home CryptocurrencyAnalysis Pepe Coin soars 250%: Will March bring more surprises?

Pepe Coin soars 250%: Will March bring more surprises?

by SuperiorInvest

There are many surprises during the bull season. Occasionally during a bull run, coins that have been falling or thought dead can rise again, and tokens with faulty models can self-correct. In the case of Pepe Coin (PEPE), which was thought to have lost value and utility but has recently gained attention and is accumulating large numbers, this is the situation.

With Bitcoin approaching its peak price and the market rallying, the cryptocurrency space is a flurry of activity. Memes have particularly benefited from this revival due to their widespread popularity and low cost, which appeal to a wide range of investors.

Pepe Coin rises amid increased interest in Memecoin

Pepe Coin has stood out in this surge of interest, ranking third in the meme coin rankings, only behind Shiba Inu (SHIB) and Dogecoin (DOGE). This increase suggests that investors are becoming more interested.

PEPE had a very diverse history and became a multi-billion dollar asset during periods when there was speculation about a huge reversal. The growth of memecoins market capitalization was increasing drastically.

Source: Coingecko

The weekly and daily chart patterns, when analyzed, show steady growth that could perhaps reach new heights. The rise in Pepe's value began in February, culminating in a 200% rise in just one week.

Today, Pepe hit a high of $0.0000041 and recorded an impressive 255% rally in the weekly period. The coin's performance was equally notable on the 24-hour timescale, with a gain of almost 50%. The weekly chart shows that Pepe's value is still above the critical resistance level, indicating that the market is confident and that there may be more upside in the future.

PEPE seven-day sustained price rally. Source: Coingecko

The bulls will regain momentum and challenge the upper price resistance level of $0.00000315 if the market pushes the price above the barrier level of $0.00000280. Furthermore, if the bulls maintain their grip on the market, the market will rise further and prepare to test its upper limit of $0.00000350.

Meme Coin Profits Increase

Meanwhile, a notable scenario occurred when six prominent wallets transacted and sold approximately $2 billion worth of PEPE coins between them. Sales from the transaction amounted to about $4.37 million, while profits approached a staggering $2 million. Token swaps of this size demonstrate the extent of market activity around $PEPE during this rally.

Total crypto market cap is currently at $2.262 trillion. Chart: TradingView.com

Although it lacks the technological sophistication of Ethereum, its merits lie in its active community involvement and the ability of social media to become ubiquitous.

Like other meme coins, Pepe Coin is subject to significant fluctuations in value due to celebrity endorsements and community sentiment. This makes it a potentially lucrative investment opportunity for people adept at navigating the tumultuous realm of Internet meme culture.

With Pepe Coin experiencing a notable 250% surge, all eyes are on what March holds for this unpredictable cryptocurrency. As investors eagerly anticipate new developments, the question remains: Will Pepe Coin continue to defy expectations and reveal more surprises over the next month?

Featured image from Pexels, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC's views on whether to buy, sell or hold investments, and investing naturally carries risks. It is recommended that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.

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