Altcoin Pepe has surprisingly experienced an unexpected increase in the last 24 hours. Accordingly, it made waves in the cryptocurrency world. The value of the Meme coin rose by an impressive 13%. Its price reached a peak of $0.0000007236 before stabilizing at $0.0000006911. This extraordinary rise caught the attention of the crypto community. Combined with a staggering 536% increase in trading volume over the same time period.
Altcoin Pepe craze
Altcoin Pepe enthusiasts are enjoying the newfound momentum. On the other hand, a continuous upward trend is expected. Additionally, crypto analysts and speculators find themselves divided. Some attribute this rise to the squeeze on short positions. Others, however, are more cautious, pointing to the possibility of a dead cat bounce.
In addition to the intrigue surrounding altcoin Pepe’s recent performance, the token has had a tumultuous journey over the past month. Meme coin experienced a 36% decline on August 24, 2023, in a downturn triggered by troubling developments. During this period, the meme coin community was shaken by a series of transactions involving the project’s multisig wallet. 16 trillion PEPE tokens worth approximately 15 million USD went from the wallet to various crypto exchanges including OKX, Binance, Kucoin and Bybit.
Statements from the PEPE team
Just two weeks ago, the Pepe team stated that the old Telegram channel associated with PEPE fell victim to an attack. They also explained that it was no longer under their control. This dealt another surprising blow to altcoin PEPE. The compromised “lordkeklol” account was used to promote fraud, deceive individuals, and even launch other cryptocurrencies.
For a deeper perspective, analysis of the daily price chart of altcoin Pepe reveals more information. The 9-day exponential moving average (EMA) is below the trading price at $0.0000006935. In addition, the daily relative strength index (RSI) stands at 41. Additionally, this indicates that an oversold position is approaching.
The unpredictable trajectory of altcoin Pepe
Altcoin Pepe has embarked on an unpredictable journey, surprising enthusiasts and skeptics alike with a sudden 13% increase in value. When we look at Kriptokoin.com, the community disagrees on the reasons behind this rise.
On the other hand, altcoin Pepe has a major token transfer. There’s also its recent turbulent history, including a hacking incident. Accordingly, developments added layers of complexity to his story. Some are hoping for a sustained rise. Others are also approaching the situation with caution, considering the volatile nature of the crypto environment.
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