Pepe (PEPE) has recently faced a significant decline, trading at $0.00001054, which reflects a 7.24% drop over the past 24 hours. This decline places Pepe among the top losers today, indicating increased market volatility and potential investor concerns.
With a market capitalization of approximately $4.43 billion, Pepe is ranked as the 23rd largest cryptocurrency by market cap. This substantial valuation highlights its significant presence in the cryptocurrency market, despite the recent downturn.
The high market cap indicates 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 stands at $607.69 million, marking a 10.45% increase from the previous day. This rise in trading volume results in a volume-to-market cap ratio of 13.70%.
A high volume-to-market cap ratio indicates that a significant portion of Pepe’s market cap is being actively traded, reflecting substantial market activity and liquidity. Despite the increased trading volume, the continued decline in price suggests that market participants may be reacting to negative news or broader market trends.
Pepe has a circulating supply of 420.69 trillion PEPE, which is also its total supply. This means that the entire supply is currently in circulation, and there are no additional tokens expected to be released into the market.
The absence of a maximum supply cap further confirms that the total supply is fully accounted for. Since the circulating supply matches the total supply, the fully diluted market cap would be the same as the current market cap, which is approximately $4.43 billion.
The alignment between the circulating supply and the total supply, along with the lack of a maximum supply cap, suggests that Pepe’s supply dynamics are straightforward and predictable.
However, the recent sharp decline in price despite high trading volume indicates significant volatility and potential investor unease.
Overall, Pepe (PEPE) presents a complex 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 heightened volatility and potential issues impacting investor confidence.
Investors should closely monitor 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 asset in the cryptocurrency sector, it is currently experiencing significant volatility. As always, a thorough evaluation of market conditions, news, and broader trends is essential for making informed investment decisions in this dynamic and often unpredictable market.
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