Over the last week, the PEPE<\/a> price has emerged as one of the best performers in the crypto market. This followed a long period of drawdown that dragged the meme coin\u2019s price almost 90% below its June 2023 all-time high<\/a>. This prolonged bear period coupled with its declining momentum is why the price reversal has caught the market by surprise.<\/p>\n To figure out why the PEPE price has been on a rally at a time when the broader crypto market has suffered declines, let\u2019s take a look at the social discussions around the token<\/a>. In particular, a report from on-chain tracker Santiment shows the social media discussion trends of top meme coins.<\/p>\n Santiment\u2019s report which was shared on X (formerly Twitter) points out that meme coins<\/a> have not really been on the radar of traders, except for PEPE. As the chart shows, discussions around the PEPE meme token saw an uptick this week.<\/p>\n<\/p>\n It is the only meme coin<\/a> whose social media discussions rose during the week with the likes of Dogecoin<\/a> seeing their own metrics drop to 3-year lows. This uptick could present the reason behind the PEPE price recovery this week.<\/p>\n Usually, when investors start getting interested in a coin, they will often talk about it on social media platforms. Depending on whether investors are collectively bullish or bearish, it can cause a swing in the price toward either direction. In this case, the uptick in discussions coincides with the rise in price, suggesting a higher level of bullishness.<\/p>\n PEPE\u2019s double-digit surge this week saw the altcoin<\/a> hit a local peak of $0.00000075 on Wednesday, resulting in one of its highest levels in September 2023. This rally has since lost momentum but the meme coin<\/a> continues to maintain a good chunk of its gains.<\/p>\n The PEPE price is up more than 16% on the weekly chart and enjoying a 92% surge in its daily trading volume over the last 24 hours. This increase in trading volume also shines a light on the rising investor interest, which could suggest a continuation of the rally once the correction finds a bottom.<\/p>\n However, with most of the crypto market still deeply in the throes of the bear market, it\u2019s unlikely that the rally would be able to continue for too long, presenting a hindrance. If the coin fails to establish support above $0.00000071, then all of this week\u2019s gains could be wiped out<\/a> by the time the weekend is over.<\/p>\n Over the last week, the PEPE price has emerged as one of the best performers in the crypto market. This followed a long period of drawdown that dragged the meme coin\u2019s price almost 90% below its June 2023 all-time high. This prolonged bear period coupled with its declining momentum is why the price reversal has […]<\/p>\n","protected":false},"author":2,"featured_media":164860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-164859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=164859"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164859\/revisions"}],"predecessor-version":[{"id":164862,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164859\/revisions\/164862"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/164860"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=164859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=164859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=164859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Social Discussions Around PEPE Rise<\/h2>\n
PEPE sees uptick in discussions | Source: Santiment on X<\/a><\/pre>\n
PEPE Price Rises 16% In One Week<\/h2>\n
<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"