PEPE Soars 414% in a Week, But Be Wary Before Investing

Bittime - cryptoworldis abuzz with ameme coin, andPEPE, this frog-themed token, is leading the way. PEPE surged 62% in the last 24 hours, becoming the highest gainer in the entire crypto market.

At the time of writing, PEPE has risen 414% in a week and 700% in a month, driven by high demand for meme coins.

This price spike made PEPE the third largest meme coin, surpassing Bonk (BONK) .

Crypto Whales Interested in PEPE

The sharp increase in PEPE continues to attract big investors (whale). According to on-chain tracking platform Lookonchain, two big investors have just added large amounts of PEPE to their portfolios.

One investor withdrew 840.86 billion PEPE tokens, worth $6.3 million at the time of writing, from Binance [BNB] on March 3 at 10:59 UTC.

Previously, another big investor swapped $1.95 million USD Coin [USDC] for 340.86 billion PEPE tokens on decentralized exchange Uniswap [UNI].

To understand this trend further, AMBCrypto examined data from Santiment. Their analysis shows a significant spike in PEPE transactions worth above $1 million over the past week.

High buying pressure drove this transaction, marked by an increase in PEPE ownership by big investors.

Check Today's Crypto Market:

Pepe Coin: Buy or Sell?

AMBCrypto analyzes some of PEPE's key technical indicators to make a judgment about its next move.

The Relative Strength Index (RSI) is in the overbought region, indicating the possibility of a price correction higher. Traders may be tempted to sell their holdings after seeing this indicator.

On the contrary, the Moving Average Convergence Divergence (MACD) indicator is moving above the signal line, indicating that PEPE may experience upward momentum in the coming days.

Furthermore, the new high was confirmed by the MACD also hitting a new high, hinting at the potential for continued bullish momentum.

PEPE is different from the many dog-themed tokens that dominate the market. This crypto coin soared 10x within days of its launch, attracting many profit-hungry traders.

However, the official website states that PEPE has no intrinsic value or expected financial returns. This means that this price increase may be unsustainable and risks a sharp correction.

In conclusion, PEPE is indeed trending, but investors must be careful before investing. Consider technical indicators and the inherent high volatility of meme coins before making a decision.

Also Read: Pepe Coin Price Soars, Traders Make Big Profits

Considerations for Buying or Selling PEPE Coin in March 2024

Considerations for buying or selling Pepe Coin in March 2024 depend on various factors, including market analysis, economic conditions, technical trends, and fundamental factors influencing the project.

Here are some considerations you can think about before making a decision.

1. Considerations for Buying Pepe Coin

• Positive Fundamental Analysis

If fundamental analysis shows that the Pepe Coin project has a strong long-term vision, ongoing product development, and strong community support, it may be a positive signal to buy.

Also Read: What is PepeFork (PORK)? Memes Are Entering DeFi to Create a World Full of Laughter

• Growth Potential

If you believe that Pepe Coin has the potential to grow in the future based on market trends, new partnerships, or innovative technological developments, that could be a reason to buy.

• Good Market Sentiment

If market sentiment is generally positive towards cryptocurrencies and other crypto assets are experiencing growth, buying Pepe Coin may be a sensible move to capitalize on market momentum.

Also Read How to Buy Crypto:

2. Considerations for Selling Pepe Coin

• Profit Realization

If you have experienced significant profits from your investment in Pepe Coin and you believe that the market has peaked, you may want to consider selling and realizing your profits.

• Negative Technical Analysis

If technical analysis shows a signal of a price drop or trend reversal, it could be a sign to sell or reduce your exposure to Pepe Coin.

• Changes in Fundamental Factors

If there is a change in the fundamental factors affecting the Pepe Coin project, such as loss of community support, development issues, or regulatory issues, it could be a signal to sell.

• Portfolio Diversification

If you are too heavily invested in Pepe Coin and you want to diversify your portfolio, you may want to sell some or all of it to minimize risk.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH ), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Pepe Coin's Rising Popularity in the Crypto Market: Analysis of PEPE's Price and Market Strength

Meme Coins on Ethereum and Solana Soar Up to 50%, One of them is PEPE

PEPE Coin Aims for New Top in March As Bitcoin Soars

DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.