Altcoins NewsCrypto NewsEthereum News

PEPE Follows ETH’s Price Jump and Reaches a New ATH

Pepe, the Ethereum-based memecoin, reaches a new all-time high amid speculation of U.S. Ethereum ETF approvals, marking a significant shift in trading volumes and investor interest.

The Ethereum-based memecoin, Pepe (PEPE), has recently soared by 27%, reaching an unprecedented all-time high. This surge is largely attributed to the buzz around the potential approval of spot Ether exchange-traded funds (ETFs) in the United States, a move anticipated by market watchers by May 23. This speculation has notably influenced Pepe’s performance, highlighting its strong correlation with Ether’s market movements.

Over the past week, Pepe has not only achieved a 24-hour price increase of 23.48% but maintained robust growth of 22.25% over the past seven days, according to data from CoinMarketCap. This recent spike pushed Pepe’s price to $0.00001387, demonstrating a clear uptrend in its market valuation.

Trading activity on Pepe has also seen a notable uptick. It recently became one of the most traded assets on Binance, with a 16% increase in trade volume within a single day. Despite a slight dip in ranking, falling to seventh place among traded assets, Pepe continues to outperform other meme coins such as Bonk and Floki.

The enthusiasm around Pepe is also reflected in the futures market, where its Open Interest — a measure of the total value of outstanding futures contracts — surged by 40% to $172.96 million. This represents a significant commitment by traders to Pepe’s long-term prospects, highlighting increased confidence in the asset.

Technical indicators further bolster the positive outlook for Pepe. The Relative Strength Index (RSI) remains above 65, suggesting a continuing bull trend, although recent declines have staved off an overbought condition. Additionally, the short Moving Average has provided strong support, hinting at potential stability in its price levels despite high volatility.

With the growing number of Pepe holders, now totaling over 221,830, and a rising trade volume that recently peaked at $2.3 billion, the memecoin seems poised for further exploration in price discovery over the coming weeks.


Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button