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According to CoinMarketCap data, PEPE is notably carving out its own growth path after soaring as high as 10% in 24 hours. While many analysts are focused on this price growth, other important metrics, like trading volume, have incited a new shift for the token.
PEPE and positive macro trends
Economic collapse is expected in the broader financial world as the Federal Reserve trimmed its interest rate by 0.5% on Sept. 18. This rate cut, the first in four years, will allow more liquidity to circulate, which the Feds hope will boost economic activities.
Alex DovbnyaHowever, market experts are convinced that the U.S. dollar might devalue in addition to general expectations. At the extreme end, some economists project an impending slip back into a recession. If this happens, investors might search for alternatives to hold their funds.
While the first crypto choice is Bitcoin, meme coins like PEPE may get a spillover from this resource allocation. The trends are already visible, as PEPE trading volume in the past 24 hours has topped $819,282,482, up by more than 63%.
In actual token terms, this amounts to more than 9.9 trillion PEPE, one of the largest volumes shifted over the past week. Ideally, this recurrent PEPE whale transaction boom implies many are favoring the token, a generally positive omen for future price growth.
Watch meme coins this season
Besides PEPE, other core rivals like Shiba Inu are also on the frontlines of this epic price resurgence.
Arman ShirinyanIn addition to preserving the real worth of their holdings, investors are also interested in growing their capital. With their volatility, meme coins offer the highest risk-reward ratio at the moment.
While traditional institutional buyers like MicroStrategy may stick with Bitcoin (BTC), many retail traders are likely to boost the economy around PEPE, SHIB and other market variants.
Gamza Khanzadaev
Tomiwabold Olajide