Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

PEPE price inches closer to 2024 peak with top crypto exchanges teasing PEPE memes on X

Source Fxstreet

PEPE price rallied to a high of $0.00000141 on Friday as Binance, Bitstamp and OKX teased users with related memes on X.
Binance announced a 700,000 PEPE reward for a quiz contest for users.
OKX and Bitstamp teased users with the PEPE logo and memes on February 23.

PEPE’s social dominance and relevance have been increasing since February 20. This week, top cryptocurrency exchanges have shared PEPE and related memes in tweets on their official X handle. The increasing social media mentions of X, alongside rising social dominance, could catalyze gains in the meme coin.

Also read: SEI, Omni Foundation propose standard to unify Ethereum NFTs

On-chain metrics and social media mentions support PEPE gains

PEPE price climbed 22% in the past month and remained nearly unchanged in the past week. The frog-themed meme coin has gained relevance and seen an increase in its social dominance as exchanges mention PEPE in their recent tweets on X.

Data from Santiment reveals social dominance climbed between February 20 and 23.

PEPE

PEPE Social Dominance. Source: Santiment.

The rising social dominance is accompanied by an increase in PEPE price. At the same time, there is an increase in volume and a decrease in PEPE supply on exchanges. These metrics support a bullish thesis for PEPE.

PEPE

PEPE Volume and Supply on Exchanges. Source: Santiment.

Binance announced a quiz contest with a reward of 700,000 PEPE and Bitstamp and OKX teased PEPE memes in their tweets.

PEPE price could revisit yearly high

PEPE price hit its 2024 top of $0.00000150 on January 11, since then, the meme coin suffered a pullback and in the past two days, it has started rallying towards this peak. On Friday, PEPE price climbed to a high of $0.00000141, inching closer to the $0.00000150 target.

The Moving Average Convergence Divergence (MACD)indicator reveals that there is positive momentum in PEPE.

PEPE

PEPE/USDT 1-day chart

In the event of a correction, PEPE price could find support at the 38.2% and 23.6% Fibonacci retracements of its decline from its 2024 high, at $0.00000111 and $0.00000101 respectively.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

Author Irene Q.

Yesterday 05: 48

Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Author Irene Q.

Yesterday 03: 23

US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Gold Price Forecast: Gold Rebounds Above $4,200, Can Falling Oil Prices Drive Another Rally?As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra

Author TradingKey

Oct 09, Fri

As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra

Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

Author Irene Q.

Oct 09, Fri

WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

【Daily Brief】Gold rebounds 1% off a two-month low, Nasdaq drops 1.25% and yields ease — the storm premium keeps WTI near $91 Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.

Author Irene Q.

Oct 09, Fri

Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.

Popular Symbols