The meme -inspired cryptocurrency pepe increased more than 2.5% in the last 24 -hour period, exceeding the memecoin sector measured by the Coindesk memeño index (CDMEME), which increased 2.24% in the same period.
The price increased from $ 0.00000969 to a maximum of $ 0.00001027, with negotiation volumes that crossed 314 billion tokens during a rapid price movement in the last time of negotiation, according to the technical analysis data model of COINDESK Research.
The negotiation activity in the range of $ 0.00001000 to $ 0.00001003 created a temporary floor, with resistance that formed about $ 0.00001007. This type of technical configuration generally indicates the accumulation, a sign of investors is building positions instead of turning for fast profits.
Pepe’s movement also exceeds the broader cryptocurrency market, measured by Coindesk 20 (CD20) index, which increased 1.8% in the last 24 hours.
The increase also seems to be linked to the growing accumulation of whales. Nansen’s data show that the 100 main Pepe addresses in the Ethereum Network have added 4.28% to their holdings in the last 30 days, while exchanges have seen their Pepe Holdings 2.15% lunge in the same period.
Meanwhile, the open interest for Pepe Futures Products has continued to increase to be close to the market of $ 645 million according to coinglase data.
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