Journalist
Posted:
- Pepe’s volume has increased by more than 80% in the last 24 hours.
- Pepe maintains a bull run despite falling more than 3%.
Pepe’s price has undergone fluctuations in recent months and was initially considered closed at one point. Nevertheless, it has since recovered and received more attention from investors.
Investors turn to Pepe
According to a recent reportOn November 9, Pepe emerged as one of the most purchased assets among investors.
This finding was the result of an examination of transactions on centralized exchanges, which found that investors had acquired more than $4 million worth of PEPE.
The significant volume of these purchases placed Pepe among the top five most acquired assets on these exchanges.
Furthermore, this surge in interest is likely driven by expectations of a bullish market. With high-cap assets like Bitcoin and Ethereum experiencing price increases, the market as a whole has also seen an upward trend.
Consequently, investors turn their attention to low-cap assets to maximize profits during the bullish market phase.
Pepe’s volume increase by more than 80%
According to CoinMarketCap data, PEPE trading volume has witnessed a remarkable increase in the past 24 hours.
According to the latest information, the volume increased by more than 80% and reached a peak of more than 100%. This was an indication of increased activity.
Source: Santiment
Also, an examination of the volume chart on Santiment matched current investor movements.
It showed that there has been a consistent upward trend in volume over the past few days. Specifically, the chart showed a spike to approximately $419.3 million on November 9. At the time of writing, the volume was approximately 365 million.
Price has yet to catch up with the volume trend
As of the closing bell on November 9, the daily timetable for PEPE showed an increase in value of 11.76%. This indicated prevailing buying pressure in trading volume.
However, the asset suffered a loss in value of more than 4% at the time of writing. Despite this decline, the price continued to trade above its short-term moving average (yellow line), indicating positive price development.
Source: TradingView
Is your portfolio green? Check out the Pepe calculator
Notably, the immediate support level has shifted due to the recent upward movement in the asset’s value.
Furthermore, the Moving Average Convergence Divergence (MACD) analysis indicates that PEPE is currently in a bullish trend.