- Pepe maintained the new price zone despite the decline.
- The number of holders saw a noticeable increase.
Pepe [PEPE] has recently reached another all-time high, continuing a trend it has maintained for the past three months. It has also become one of the most traded assets on Binance [BNB].
So, Pepe could remain in its current zone for a while longer.
Pepe among the most traded assets
According to data from Binance, Pepe was among the most traded assets in the last 24 hours. It was previously ranked fifth and was the most traded meme coin.
However, at the time of writing, it had dropped to seventh place despite a more than 16% increase in trade volume over the past 24 hours.
Bonk [BONK] has now surpassed it, ranking sixth, with over a 22% increase in trade volume in the same period.
Pepe price prediction
AMBCrypto’s analysis of Pepe showed that it spiked by over 20% on 20th May. This notable increase took Pepe into a new price range and marked the highest single spike since March.
Specifically, the price rose by 24.56%, from around $0.000009 to $0.000011, reaching its highest value in history. At the time of writing, Pepe was still trading around $0.000011, though it had declined by over 2.7%.
Source: TradingView
The analysis of the Bollinger Bands indicated they were wide, suggesting high volatility and the potential for another major move soon.
Additionally, the short Moving Average (yellow line) continued to act as strong support.
The Relative Strength Index (RSI) was above 65, indicating a strong bull trend, although the recent decline prevented it from entering the overbought zone.
What’s after its ATH?
According to data analysis on Coinglass, Pepe recently experienced its highest Open Interest in some time.
AMBCrypto’s assessment of the chart indicated that its Open Interest rose to over $121 million at the time of writing, signaling a significant cash inflow.
Additionally, an analysis of its volume on Santiment revealed a recent spike, with volume rising to over $2.3 billion.
These metrics suggested a positive price prediction, indicating that there is sufficient volume and funding to help maintain its price level for now.
Source: Santiment
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Number of Pepe holders increase
An analysis of the total number of holders showed a slight increase over the last 24 hours. According to AMBCrypto’s assessment of the Santiment chart, the number of holders rose by approximately 270.
On the 20th of May, there were around 221,540 holders, which had increased to 221,830 at the time of writing.
Source: Santiment
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