PEPE has seen a significant increase of 18.5% in the past 24 hours and is currently trading at $0.0000080. The market cap of the meme coin has risen to $3.31 billion, positioning it as the 37th-largest digital asset at the time of reporting. Notably, 46.8% of PEPE’s trading activity, amounting to over $768 million, stems from the Binance crypto exchange.
After a five-day hiatus on April 23, the exchange announced the availability of the 1000PEPE-PERP contract for non-U.S. residents. Data provided by Santiment reveals that the number of whale transactions, each consisting of at least $100,000 worth of PEPE, has increased by 11% in the past day, rising from 246 to 273 unique transactions. Additionally, PEPE’s Relative Strength Index (RSI) has escalated from 46 to 56 within the same time frame, indicating that the coin is somewhat overheated and possibly overvalued at its current price point, suggesting a moderately higher price volatility.
Meanwhile, an RSI lower than 50 could indicate that PEPE may be in a favorable state for a potential price rally. Market intelligence data from Santiment also highlights an increase in Pepe’s exchange activity. Specifically, 5.65 trillion PEPE tokens entered the exchanges in the past 24 hours, while 4.87 trillion coins were withdrawn from the exchange during the same time period.
