Cryptocurrency experts named the cryptocurrency whose trading volume increased by 47% per day

not financial advice — ed.

Over the past few weeks, the value of the popular PEPE meme token on crypto exchanges has dropped significantly. However, crypto experts have reason to believe that the cryptocurrency will soon begin a steady bullish momentum. In support of the analysts' theory, daily trading volumes for PEPE increased by almost 47%, rising from $ 60 million to $ 90 million over the past 24 hours.

Crypto experts emphasize that, given that such dynamics are formed in a relatively short time, this may indicate significant activity on the part of institutional investors. It is quite possible that strong buyers simply took advantage of the developing bearish trend to purchase tokens at more favorable prices.

Meanwhile, the majority of PEPE holders are still suffering losses. IntoTheBlock’s metric indicates that only 26% of investors are currently making a profit. About 5% are in the neutral zone, and 69% of holders are making a loss. However, if the sharp increase in trading volumes really leads to a local bullish momentum, the situation could change significantly.

Earlier, we told you about a meme-coin holder whose investment in PEPE 2.0 brought more than 19,500% profit. Using the decentralized Uniswap exchange, the crypto trader blocked 8.3 trillion RER2 tokens for $ 900. After 10 hours, a series of sales began, in which PEPE2 was sold in 43 transactions of 2ETH each, with an interval of 3−7 minutes between them. In less than 24 hours, the sales of PEPE2 brought the user a profit of $ 176,000, which is 19,555% more than the initial investment.

The No Worries editorial team advises readers to take a critical approach to investing in meme cryptocurrencies.