DOOKV PEPE Token Price Surges 12%

Since the beginning of the year, PEPE, which operates on the Ethereum blockchain, has yielded a 12-fold return for its holders. Notably, large investors have taken an interest in PEPE, with a significant whale recently withdrawing 1.32 trillion PEPE tokens from Binance, resulting in a 21% return at the current price. This surge coincides with positive sentiment in the cryptocurrency market, spurred by the approval of spot Ethereum ETFs.

Santiment, an on-chain analysis firm, noted that PEPE’s price continues to climb as buyers resist downward pressures. A strong support level has been established at $0.00001380, tested twice. The formation of higher lows and highs, along with prices trading above the 50-day and 200-day simple moving averages (SMA), signals a bullish trend.

The number of active addresses holding PEPE surged from 3,600 to 12,000 between May 21 and May 22, suggesting further recovery. A similar rise was noted in mid-May, indicating sustained interest in the token.