Pepe’s [PEPE] price witnessed a sudden uptick on the 23rd of February 2024, making it one of the top gainers.
price witnessed a sudden uptick on the 23rd of February 2024, making it one of the top gainers. However, the meme coin couldn’t sustain the momentum as its daily chart was quick to turn red once again.from BSCDaily, a popular X handle that posts updates related to the BNB Chain ecosystem, it was revealed that PEPE’s price surged by 20% on the 23rd of February.
This double-digit price hike made the meme coin the top gainer in the BNB Chain ecosystem. Apart from PEPE, ZIG and GTAI also made it to the top three on the same list. But PEPE couldn’t hold its ground for long as its price dropped by nearly 9.5% in the last 24 hours, nullifying its 20% gains., at press time, the meme coin was trading at $0.00000119 with a market capitalization of over $262 million. In fact, as per our analysis of IntoTheBlock’sTo check what caused this decline in value, AMBCryprto analyzed Santiment’s data. We found that the meme coin’s exchange inflow spiked sharply while its price rose, which is a typical bearish signal.
Additionally, after a rise in weighted sentiment, the graph again started to close, suggesting that bearish sentiment around the meme coin started to increase.However, whale activity around PEPE remained high, as evident from the rise in its number of whale transactions. In fact, the big platters actually increased their holdings as the supply held by top addresses went up slightly in the last few days.
Meanwhile, PepeFork , the coin that was a result of a fork from the original blockchain, also had a similar fate., PORK’s value dropped by over 7% in the last 24 hours. At the time of writing, it was trading at $0.0000003999.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space.
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