Pepe, the third-largest meme coin, experienced a significant increase in value and market cap as balances in centralized exchanges decreased. The rise of Pepe coincided with a rebound among other meme coins like Shiba Inu, Dogwifhat, and Mog Coin. The rally in meme coins was driven by the Federal Reserve's interest rate cut and China's stimulus package. There are signs that more investors are moving back to Pepe, with outflows from exchanges increasing significantly. The surge in Pepe's value also corresponded with a rise in futures open interest. Technical analysis suggests that Pepe may continue to rise and reach higher price targets in the future.
- Content Editor ( crypto.news )
- 2024-09-26
Pepe nears crucial price as CEX outflows rise: Nansen