|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
PEPE Steals the Spotlight in the Meme Coin World Despite Price Dip of More Than 12%
Oct 02, 2024 at 10:07 pm
PEPE investors are hyped about the coin, as the price drawdown appears to be fueling new accumulation trends.
The broader market’s “Uptober” narrative is quickly turning into “Rektober” as market liquidations have topped $540 million. In the meme coin world, PEPE has taken the spotlight despite seeing its price drop by over 12% in 24 hours, bringing it down to $0.000009588.
While this metric indicates a major market sell-off, investors have found solace in the Open Interest (OI) figures, as highlighted by CoinGlass data.
The lower the PEPE price, the better
PEPE investors are buzzing about the coin, as the price drawdown seems to be fueling new accumulation trends. At the time of writing, PEPE’s 24-hour OI has increased by 14%, with a total of 12.2 trillion tokens wagered.
Although this indicator is known to be highly volatile, it does underscore how traders are viewing the price dip as a prime discount to buy PEPE. The token has a historically high chance of growth, having outperformed some of its peers over the past several months.
Even with the recent price downturn, the token has maintained a 13.71% growth over the past seven days. This growth rate outpaces the 9% uptick that its closest competitor, Shiba Inu, has seen within the same time frame.
PEPE’s long-term appeal is a major selling point that investors are capitalizing on, as evidenced by the uptick in Open Interest.
Other PEPE metrics to keep an eye on
Most performance metrics are showing mixed results amid a period of heightened market volatility. However, for PEPE, IntoTheBlock data shows that the total number of Daily Active Addresses has surged by 9.51% to 3,380 over the last 24 hours.
This metric is useful for gauging the overall mood within an ecosystem. Considering the time it took to get the best-performing meme coin back into the mainstream, these metrics are crucial for maintaining investors' interest.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Is Yeti Ouro (YETIO) the Next Dogecoin (DOGE)?
- Oct 03, 2024 at 04:35 am
- September has been a productive month for Dogecoin (DOGE) with significant gains analysts predicting potential for more significant gains. With DOGE recently rising by 19.36% over the past month, analysts are closely watching the market for signs of a further rally.
-
- Is Yeti Ouro (YETIO) the Next Dogecoin (DOGE)?
- Oct 03, 2024 at 04:35 am
- September has been a productive month for Dogecoin (DOGE) with significant gains analysts predicting potential for more significant gains. With DOGE recently rising by 19.36% over the past month, analysts are closely watching the market for signs of a further rally.
-
- Meme Coin Watch: PEPE and FLOKI Among Biggest Losers
- Oct 03, 2024 at 04:35 am
- The substantial drop in the crypto market today caused most assets—including Ethereum and Bitcoin—price drops. This bearish trend has also had an impact on the meme coin market; tokens like PEPE and FLOKI have seen considerable drop.