Pepe (PEPE) has recently experienced a decline, trading at $0.00001012, which represents a 4.76% drop over the past 24 hours. This decrease places Pepe among the top losers today, signaling increased market volatility and potential investor concerns.
With a market capitalization of approximately $4.26 billion, Pepe is ranked as the 23rd largest cryptocurrency by market cap. This substantial valuation underscores its significant presence in the cryptocurrency market, despite the recent downturn. The high market cap reflects a considerable level of investment and market confidence, though recent trends suggest a shift in sentiment or increased selling pressure.
The 24-hour trading volume for Pepe is about $805.22 million, representing a 38.58% increase from the previous day. This rise results in a high volume-to-market cap ratio of 18.87%. Such a high ratio indicates that a substantial portion of Pepe’s market cap is being actively traded, reflecting significant market activity and liquidity.
Despite the increase in trading volume, the continued decline in price suggests that market participants might be responding to negative news or broader market trends.
Pepe has a circulating supply of 420.69 trillion PEPE, which also matches its total supply. This means that the entire supply is currently in circulation. The absence of a maximum supply cap means there are no additional tokens expected to be released, and the fully diluted market cap would be the same as the current market cap of approximately $4.26 billion.
The alignment between the circulating supply and the total supply, coupled with the absence of a maximum supply cap, indicates that Pepe’s supply dynamics are straightforward and fully accounted for. However, the recent sharp decline in price, despite high trading volume, highlights significant volatility and potential investor unease.
Overall, Pepe (PEPE) presents a mixed profile in the cryptocurrency market. Its significant market cap and high trading volume reflect an active market presence and substantial liquidity. However, the notable price decline and high volume-to-market cap ratio suggest increased volatility and potential issues impacting investor confidence.
Investors should keep a close eye on Pepe’s ongoing market performance and any relevant news or developments that could influence its future outlook. The current metrics indicate that while Pepe remains a notable player in the cryptocurrency sector, it is experiencing significant volatility.
As always, a thorough assessment of market conditions, news, and broader trends is crucial for making informed investment decisions in this dynamic and often unpredictable market.
