PEPE (Pepe) rose 4.37% in 24 hours.

Gate News Bot news, September 9, according to CoinMarketCap data, as of the time of writing, PEPE (Pepe) is currently priced at $0.0000102753, with a rise of 4.37% in the last 24 hours, reaching a high of $0.0000104002 and a low of $0.0000093506. The current market capitalization is approximately $4.323 billion, an increase of $181 million compared to yesterday, currently ranked 31st.

PEPE is a meme token named after the famous internet meme "Pepe the Frog". PEPE aims to revitalize the meme coin market by issuing itself with no presale, zero taxes, a destroyed liquidity pool, and relinquished contract ownership. The project emphasizes the pure power of meme culture, with no formal team or roadmap, and a token supply of 420.69 trillion.

Recent important news about PEPE:

1️⃣ High Leverage Trading Opening Position A trader deposited 701,000 USDC on the Hyperliquid platform and opened long positions on PEPE and WIF with 10x leverage. The long position on PEPE is worth $2.5 million, equivalent to 258 million kPEPE. This large leverage operation indicates that some investors are optimistic about the short-term trend of PEPE.

2️⃣ Whale addresses continue to adjust their PEPE holdings A well-known cryptocurrency investor recently sold a large amount of PEPE tokens, valued at approximately $3.84 million. At the same time, the investor adjusted their holdings in other tokens, including buying AAVE and ENA. Despite the partial sell-off, the investor still retains over $22 million in PEPE holdings, demonstrating long-term confidence in PEPE.

3️⃣ PEPE popularity remains high In the latest ranking of popular cryptocurrencies, although PEPE did not make it into the top 20, its derivative token Purple Pepe (PURPE) has jumped to the top of the popularity list, with a 24-hour rise of 38.32%. This reflects that the PEPE-related ecosystem is still receiving widespread attention from the market, which may indirectly support the price performance of PEPE.

From a technical perspective, the recent rise of PEPE is closely related to the operations of large holders and overall market sentiment. The opening of large leveraged long positions may provide short-term buying support, while the adjustments in positions by well-known investors have caused some selling pressure, but the retention of long-term large positions also conveys a positive signal. Meanwhile, the sustained popularity of the PEPE ecosystem helps maintain market attention on the token.

This message is not investment advice, and investors should be aware of market volatility risks.