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- The price that bounced from the region mentioned in CoinOtag’s analysis showed a massive increase.
- Elon Musk’s PEPE
effect helped accelerate the price increase.
Why did PEPE token rise with sharp upward movements contrary to the market?
PEPE Price is Rising, but Why?
The sharp upward movements in PEPE price helped increase interest in memecoin. During a period when the market was experiencing difficult times, PEPE’s upward movement attracted attention.
PEPE’s 24-hour trading volume is over $1.1 billion. Its market value has exceeded $732 million.
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The upward trend starting from the support range of $0.000001187 – $0.000001019 mentioned in our PEPE analysis published on May 11th provided a gain of 98%.
PEPE/USDT 2 Hour Price Chart
As seen in the chart, PEPE token, which provided a turnaround as mentioned in our previous analysis, brought about a gain of approximately 100% to CoinOtag readers.
Elon Musk Effect on PEPE
In addition, the PEPE token news shared by CoinOtag today was one of the important factors that accelerated the rise.
— CoinOtag EN (@coinotagen) May 13, 2023
The PEPE image in Elon Musk’s tweet became an important factor that attracted investors’ attention. This news was shared by CoinOtag at 12:37. At the time of the news, the PEPE token price was trading at $0.00000167. With the news, the PEPE price gained 24% and rose to $0.00000208.
Moreover, both CoinOtag’s analysis readers and news followers also gained profits.
Although PEPE erased its losses in the last 24 hours, there is a 5% increase in the daily candle. The current PEPE price is $0.00000184.