Pepe Coin Bulls Are Back as Pepe NFTs Enter the Market

PEPE, the latest trendy meme coin, has already taken over multiple cryptos as a result of its buzz. Pepe has been trading downwards for the past several days before the memecoin changed moved to BRC-20 and attracted more investors. 

The Pepe Coin frenzy, on the other hand, has now spread to the Non-fungible token (NFT) arena. Bitcoin Frogs, a newly introduced NFT with a Pepe motif, has seized the market by storm, and this is despite the Bitcoin Ordinals hype. 

The NFT hype also created a FOMO in the market and investors rushed to buy more Pepe as the PEPE price surged more than 5% on Thursday. 

Pepe Themed NFTs Soared in Value Leaving BAYC Behind

According to the statistics, Bitcoin Frogs, a Bitcoin NFT series, has surpassed Bored Ape Yacht Club as the most earning NFT series based on transaction volume during the last 24 hours. With around 700 transactions, the Pepe coin-themed NFT series achieved more than $2 million in transaction volume.

Bitcoin Frogs sales have increased by 179% in the last 24 hours to $2.25 million. Transactions increased by more than 70%. At the same time, BAYC sales fell by almost 46% to roughly $1.15 million. In addition, its transaction volume decreased by 56%. 

Source: CryptoSlam

At the time of publication, Bitcoin Frogs was trading at an average price of 0.12 Bitcoin (about $3,200). According to the statistics, dealers pay fees ranging from $50 to nearly $1,200. The popular NFTs are described as 10,000 pure digital valuables that will reside on Bitcoin in perpetuity.

Pepe Coin Price Analysis

Today's Pepe (PEPE) price is $0.00000161, with a 24-hour trading volume of $255,015,890. This reflects a 4.98% gain in the previous 24 hours and a -0.59% decrease in the last seven days. Pepe has a market valuation of $676,973,157 and a circulation supply of 420 Trillion PEPE.

In a daily time frame, Pepe is looking a bit sluggish as PEPE isn’t looking any much bullish as it was previously when hype surrounded the memecoin. The last surge in may of 22% put the prices on a stall and since then, PEPE isn’t making much movement. 

The upper Bollinger band is at $0.000001765 which is a bit far from the current trading price. The lower Bollinger band is at $0.000001500 which has been tested previously. Right now, the price is buzzing around the neutral zone of $0.000001639 which is in the middle of the BB indicator. The graph could be seen going upwards which is a positive sign as bulls are pushing the price upwards.

The 14-day RSI is at 44 which is considered a neutral zone. From here, PEPE could go on to approach a higher RSI zone to acquire more bulls if the market remains positive.

Source: TradingView

Conclusion

In conclusion, The PEPE frenzy came to an end last week when its price began to fall. In the previous seven days, the price of Pepe has declined by around 3%. However, its price has risen by a whopping 2000% in the previous 30 days.