PEPE surges 10% as memecoin sets its sights on 2024 highs
Main Idea
PEPE memecoin surged 10% amid a broader memecoin market rally, with analysts suggesting potential for further gains based on historical patterns and current market dynamics.
Key Points
1. PEPE's price increased by 10.8% in 24 hours, reaching $0.00001237, with month-to-date gains at 18.3%.
2. The memecoin market cap surpassed $80 billion, led by Dogecoin ($35B), Shiba Inu ($7.9B), and PEPE ($5.1B).
3. Analyst Galaxy noted PEPE's chart mirrors a 2024 setup that previously led to a threefold surge, suggesting potential targets near $0.000030.
4. Liquidation data showed max pain levels at $0.0000126 (shorts) and $0.0000114 (longs), with over $2.56 million in shorts liquidated overnight.
5. Profitable PEPE holders rose to 68%, with the largest token concentrations at $0.000012 (38.87T PEPE) and $0.000013 (31.38T PEPE).
Description
PEPE’s chart mirrors 2024’s breakout setup. Is the real rally just beginning?
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