Pepe (PEPE), a cryptocurrency with a frog theme, is demonstrating an interesting resurgence following weeks of price declines. Over the past seven days, PEPE has surged by approximately 17%.
The cryptocurrency with a frog theme is also unexpectedly in positive territory, maintaining the gains achieved in the last 24 hours.
Pepe’s trading volume over the past 24 hours has surged by 111% to reach $88.36 million, as meme coin traders place their bets on this frog-themed asset. At the time of this writing, PEPE had experienced a slight increase over the last 24 hours, reaching $0.00000071.
After the project’s multi-signature CEX wallet sold 16 trillion tokens valued at approximately $15 million, Pepe underwent a period of decline lasting several weeks. Nonetheless, the situation took a turn for the better as PEPE recovered from its low point of $0.0000006 on September 22.
PEPE reached intraday peaks of $0.000000768 before encountering an obstacle, leading to a minor price retracement.
The precise reason for the recent upturn in PEPE’s value remains unclear. However, on-chain data suggests a modest uptick in discussions and social activity surrounding the cryptocurrency.
PEPE Experiences Minor Increase in Social Conversations
Santiment, an on-chain analytics company, highlighted in a recent tweet that meme-based cryptocurrencies like PEPE, Dogecoin, Dogelon Mars, and Shiba Inu seem to have lost the attention of traders after experiencing price declines over several months. Notably, Dogecoin is currently witnessing its lowest level of overall asset discussions since 2020.
🐶 As #altcoins have seen more declines than gains since the mid-July #crypto market local top, #memecoins are showing a smaller ratio of overall trader interest than they have in some time. Particularly, $DOGE has the lowest discussion rate since 2020. https://t.co/QO5Cbuf2G2 pic.twitter.com/aC5NaHyGGb
— Santiment (@santimentfeed) September 27, 2023
Santiment tweeted, “As altcoins have generally witnessed more losses than gains since the mid-July local top in the cryptocurrency market, meme coins are registering a reduced proportion of trader interest compared to previous periods. Notably, DOGE is experiencing its lowest discussion rate since 2020.”
Nevertheless, it seems that meme coins are struggling to attract the attention of investors, as demonstrated by the diminishing prices observed in leading meme coins like Shiba Inu and Dogecoin.
Despite the reduced level of social conversations related to this category of assets, PEPE, conversely, experienced an increase in social discussions, coinciding with its 17% price surge over the past week. #PEPE Coin
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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