PEPE Price Increases by 5% as $1.2 Billion Enters Market – Discover Where Traders Are Shifting Their Investments Next

The well-known meme coin Pepe ($PEPE) is experiencing a rebound today, following some negative price movements overnight, increasing by 5% to reach a price of $0.00001259, while the 24-hour trading volume reached $1.5 billion.

This recovery offsets a 5% decline observed in the early morning hours UTC.

Overall, many holders of Pepe are seeing profits, particularly those who have retained the token for a week, as they are up 5%. The current price of Pepe is approximately 37% higher than it was two weeks ago, around 18% more than it was thirty days prior, and an impressive 822% greater than its value at this time last year.

This indicates that the frog-themed meme coin, inspired by the Max Furie webcomic character of the same name, is currently outperforming the largest meme coin, Dogecoin ($DOGE).

$DOGE has only increased by 0.7% over the week, and while its seven-day gains of 7.7% surpass those of Pepe during the same timeframe, Dogecoin’s 14-day (23%), 30-day (14%), and 365-day (77%) increases are significantly lower than those of Pepe.

Pepe Price Analysis

Despite today’s minor rally, Pepe remains in a trough compared to its price over the past three months.

At its current value, it is very close to reaching a recent persistent resistance level of $0.000013, as shown by the red line below.

Source: TradingView

However, Pepe has retraced 27% over the last two months from its all-time high of $0.00001717 achieved on May 27. Whether Pepe can attain that price point again will rely on a favorable news cycle.

Many are optimistic that the potential for the Federal Reserve to lower interest rates soon, the success of yesterday’s spot Ethereum ETF launches, and the possibility of pro-crypto Republican Presidential candidate Donald Trump’s reelection in November will all positively influence the market.

Pepe’s Volatility Sends Traders To Mega Dice

Pepe’s price is notoriously unpredictable due to its lack of underlying utility. Investors looking to support smaller crypto projects may find more value in the native utility tokens associated with the emerging GambleFi sector.

One such token, Mega Dice ($DICE), has generated $1.66 million thus far in its ongoing presale.

Mega Dice was launched last year as the world’s first licensed crypto casino accessible via the popular messaging app Telegram and has since drawn in 50,000 players.

Subsequently, others have followed suit and introduced iGaming bots on Telegram, with TG Casino being a notable example.

Mega Dice’s new $DICE enhances the online casino’s offerings significantly. As the platform’s native utility token, players can utilize $DICE to fund games and receive payouts, with some games requiring its use.

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Current Price: 1 $DICE = $0.0825

Here’s why $DICE is poised to become the leading GameFi token, surpassing all… pic.twitter.com/wI2jy30ntr

— Mega Dice Casino (@megadice) June 28, 2024

$DICE is also incorporated into the casino’s loyalty program, providing more generous rewards and exclusive competitions and experiences to users. It is the only GambleFi coin that distributes a portion of profits to its users daily through its innovative staking system.

The casino’s buyback and burn initiative reduces supply, enhancing scarcity and aiding in value stabilization compared to the unpredictable price fluctuations of meme coins like Pepe.

In summary, $DICE is gaining momentum. Given the various ways investors can utilize their DICE, it is clear why GambleFi investors are accumulating Mega Dice.

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The post PEPE Price Rebounds with 5% Surge as $1.2 Billion Flows In – Find Out Where Traders Are Moving Their Money Next appeared first on Cryptonews.