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PEPE, the popular meme coin inspired by the iconic character, has achieved a remarkable leap by surpassing a $10 billion market cap following an 18% price surge.
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This significant milestone aligns with an upsurge in network activity, reflecting growing demand and investor interest in the meme-driven crypto space.
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“The momentum surrounding PEPE could see its price targeting a new peak of $0.000030, contingent on sustaining current bullish trends,” noted analysts at COINOTAG.
PEPE’s market cap soars past $10 billion with a recent price surge, supported by increased network activity and bullish predictions for future growth.
PEPE Achieves New Heights: Market Cap Surpasses Litecoin
On Monday, December 11, PEPE’s market cap soared to an impressive $10.67 billion following a surge in its price to $0.000027, marking a gain of approximately 18% within a 24-hour window. This significant movement allowed PEPE to eclipse Litecoin (LTC), whose market capitalization is currently standing at $10 billion.
With a circulating supply of 420 trillion tokens, the price uptick directly correlated to a notable increase in demand, highlighting PEPE’s place as the 21st most valuable cryptocurrency in the market.
The rise in market capital underscores the growing acceptance and popularity of meme tokens like PEPE, which, despite their often speculative nature, continue to attract substantial investor interest.
Data from COINOTAG highlights a surge in network activity, which is characterized by an increase in active, new, and zero-balance addresses—a strong indicator of heightened demand for PEPE. Source analytics indicate that as more users engage with the token, both the active user count and new wallet creations have notably heightened.
PEPE Network Activity. Source: IntoTheBlock
PEPE Technical Analysis: Path to New All-Time High
Examining the technical indicators, the Moving Average Convergence Divergence (MACD) has recently shifted from a bearish to a bullish stance. This indication is critical as it reflects the momentum swing in PEPE’s price trajectory.
The bullish crossover, characterized by the 12-day Exponential Moving Average (EMA) climbing above the 26-day EMA, suggests a potential breakout beyond the resistance level of $0.000025 is on the horizon.
PEPE Daily Analysis. Source: TradingView
Should investor confidence maintain the current momentum, PEPE’s price could very well reach the anticipated $0.000030 mark. Conversely, if bearish pressure arises and the price retracts below $0.000025, it may lead to a retreat toward $0.000015, potentially dipping its market cap below the vital $10 billion threshold.
Conclusion
The recent developments surrounding PEPE have not only highlighted its resilience in the crypto market but also showcased the profound impact of user engagement and network activity on its valuation. As the token maintains its bullish trajectory, stakeholders and investors will closely monitor these metrics to gauge potential future growth and price movements.
