PEPE experiences 13% price surge in 24 hours, causing overheating.

PEPE is experiencing a significant increase, with a 13.5% rise over the past 24 hours, currently trading at $0.00000694. This surge has also seen its market cap grow to $2.92 billion, positioning it as the 35th-largest digital currency. Notably, PEPE has seen an impressive 12,200% rally since its inception, reaching an all-time high of $0.0000107 on March 14, with a market cap of $4.2 billion at that time. Santiment’s data reveals a decline in PEPE exchange inflow from 5.57 trillion tokens to 5.47 trillion tokens within the past 24 hours.

Meanwhile, the exchange outflow has seen a slight increase, hovering at 6 trillion PEPE. These trends indicate that investors are accumulating the meme coin rather than selling for short-term profit. The market intelligence platform’s data indicates a consistent increase in the number of Pepe daily active addresses over the past three days, rising from 2,670 on April 29 to 3,249 unique wallets at the reporting time. This uptrend, in conjunction with rising prices, typically suggests lower price volatility due to a reduced likelihood of whale manipulation.

However, the RSI indicator currently suggests that PEPE is moderately overvalued, often associated with high price volatility in these market conditions.

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