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PeiPei Coin Surges 28,938.53%! Is $500M Market Cap Next?

The post PeiPei Coin Surges 28,938.53%! Is $500M Market Cap Next? appeared first on Coinpedia Fintech News

The ever-changing world of crypto offers investors new opportunities every day. This time, it’s PeiPei coin. Just like Pepe is a green frog, PeiPei is a red frog. It launched on Uniswap in June, paired with wETH. Soon after, PeiPei found its place on major global exchanges like Poloniex, LBank, and Gate.io.

The Rise of PeiPei

PeiPei has become a top gainer, securing the top position among the top 500 gainer tokens. In the past 24 hours, this red frog meme token saw a 51.70% rise in trading volume.

peipei top gainer
Source : CoinMarketCap

Since its inception in June, PeiPei has experienced a staggering 28,938.53% rise, reaching its all-time high (ATH) yesterday.

peipei rise from its inception
Source : Dexscreener

PeiPei’s Strong Charts

Currently, PeiPei is riding its major moving averages (MAs). After a 19.58% fall from its ATH, the meme token is now trading at $0.063129.

19% fall in peipei
Source : Dexscreener

The Fibonacci tool shows major resistance at $0.063848. The current price is a support zone, with the strongest daily support at $0.062502. If PeiPei falls from its current support, the next support, according to the Fibonacci tool, will be near $0.062940.

fib levels for peipei
Source : Dexscreener

Community

Just a month after its launch, the red frog has gained almost 27,000 holders. At its peak, PeiPei recorded a market cap of $163.17 million, with the current market cap at $136.01 million.

peipei marketcap
Source : Dexscreener

The MACD indicates high bullishness, but the RSI shows it is oversold and needs a correction. If it falls, $0.062940 should act as support per the Fibonacci tool.

peipei MACD & RSI
Source : Dexscreener

PeiPei’s official Twitter handle has quickly gained a substantial following, with a community of 15.7k followers. The official handle posted a screenshot of a significant purchase worth 68.60 ETH by an unknown whale, a very positive sign. Dexscreener shows high trading rates for this meme token.

peipei official tweet
Source : Twitter

If the developer maintains the momentum, the red frog has a high chance of reaching a market cap of $300 million to $500 million in a short time. Meme coins are very volatile, hence, investors’ discretion is advised.

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