- Pepe maintained the new price zone despite the decline.
- The number of holders showed a striking increase.
Pepe [PEPE] has recently reached another record high, continuing the 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 stay in the current zone for a while longer.
Pepe one of the most traded assets
According to data from Binance, Pepe was one of the most traded assets of the past 24 hours. It previously ranked fifth and was the most traded meme coin.
However, at the time of writing, it had fallen to seventh place, despite an increase in trading volume of over 16% in the past 24 hours.
Bonk [BONK] has now surpassed it and ranks sixth, with an increase in trading volume of more than 22% over the same period.
Pepe Price Prediction
AMBCrypto’s analysis of Pepe showed it rose more than 20% on May 20. This remarkable increase took Pepe into a new price range and marked the highest peak since March.
Specifically, the price rose by 24.56%, from approximately $0.000009 to $0.000011, reaching the highest value in history. At the time of writing, Pepe was still trading around $0.000011, although it had fallen by over 2.7%.
Source: TradingView
The analysis of the Bollinger Bands showed that they were wide, indicating high volatility and the possibility of another big move soon.
aMoreover, the short moving average (yellow line) continued to provide 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 happens after the ATH?
According to data analysis on Coinglass, Pepe recently experienced the highest Open Interest in some time.
AMBCrypto’s review of the chart indicated that Open Interest rose to over $121 million at the time of writing, indicating significant cash inflows.
Additionally, an analysis of volume on Santiment revealed a recent spike, with volume rising to over $2.3 billion.
These figures suggested a positive price forecast, indicating that there is sufficient volume and financing to maintain price levels for the time being.
Source: Santiment
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The number of Pepe holders is increasing
An analysis of the total number of holders showed a slight increase over the past 24 hours. According to AMBCrypto’s assessment of the Santiment chart, the number of holders increased by approximately 270.
As of May 20, there were approximately 221,540 holders, which had increased to 221,830 at the time of writing.
Source: Santiment