The crypto Pepe is experiencing its second highest price increase, marking a seven-day period with a significant 250% increase.
At the same time, the volume has exceeded 2 billion dollars, indicating a strong interest from buyers. Furthermore, the total profitable offer at 100% is an unprecedented phenomenon, potentially pushing towards further increases in the coming days.
Let’s see below all the details.
Summary
Crypto news: Pepe records price increases of 250% in seven days
As anticipated, the famous crypto Pepe is experiencing its second significant price increase in its history, while the total supply reaches an unprecedented point.
Specifically, Pepe has recently shown exceptional performance, with significant increases that have greatly increased the tokens in profitable position.
Pepe’s volatility is evident with a daily increase of over 40%, the second in a week, with a significant increase of 45.62% on March 1st.
This follows a series of bullish trends, with a 32% increase on February 26 and a record peak of 47.51% on February 27, marking the highest daily increase to date.
An analysis of the price range reveals an overall increase of 250% in the last seven days, with Pepe continuing to grow, at the time of writing, with a further increase of 1%.
RSI and Pepe’s profitability
At the same time, the examination of the RSI shows a historical position, with the value approaching 86, indicating a strong bullish trend and an overbought situation, a first in Pepe’s history.
The volume analyzed on Santiment exceeded 2 billion dollars on February 28 and 29, a significant increase compared to the previous 400 million dollars.
This increase in volume reflects the increase in transactions, supported by the constantly positive trend of prices, confirming the dominance of buyers and contributing to the increase in volumes.
The series of significant increases has made Pepe extremely profitable for its holders, with over 420 trillion units in a profitable position.
The percentage in circulation, at 100%, marks a unique case in Pepe’s short history. This unique situation could stimulate further purchases by traders, leading to further price increases in the coming days.
Vitalik Buterin interacts with PepeCoin
Recently, Vitalik Buterin, founder of Ethereum, showed appreciation for an old Tweet about “PepeCoin” from 2017.
The Tweet, by Emin Gün Sirer, founder of Avalanche (AVAX), had a humorous tone towards Ethereum Classic, citing PepeCoin as an example. Despite PEPE being launched as a memecoin just a year ago, it has gone through a significant period.
While memecoins, especially in the Ethereum ecosystem, are experiencing a period of great increases and attracting attention, the price of PEPE seems to remain indifferent to the latest show of appreciation from Buterin.
Vitalik Buterin has a complex history with memecoins, highlighted by his massive donation of SHIB tokens for Covid-19 relief in India, when Shiba Inu (SHIB) was more popular.
These tokens had been donated to him by the SHIB developers, sparking reactions in the community. However, it remains a mystery why Buterin appreciated the old PepeCoin tweet after all these years.
