Take a look
- PEIPEI is trading at $0.061627, with a 24-hour volume of $16.17 million and a price drop of 22.01%.
- It reached an all-time high of $0.062387 on June 8, 2024 and an all-time low of $0.077909 on June 7, 2024, showing high volatility.
- Actively trades on Uniswap and Matcha; a significant decrease in trading volume of 42.70%, indicating lower trading interest.
- Broader economic data and trends of major cryptocurrencies such as bitcoin and ethereum influence the performance of PEIPEI.
- Growth potential if the overall crypto market stabilizes, but investors should be cautious due to inherent market volatility and economic uncertainties.
PeiPei (PEIPEI) has become a major player in the cryptocurrency market, capturing the attention of both traders and investors. As of today, the token is trading at $0.061627, experiencing a notable 24-hour price change of -22.01%. Despite this sharp drop, PeiPei has shown resilience with an overall positive trend over the past week.
PEIPEI at $0.061627: market dynamics and volatility
The current price of PEIPEI is $0.061627, with a significant 24-hour trading volume of $16,169,997.61. The token price has seen a significant drop of 22.01% in the last 24 hours, reflecting broader market volatility. Its market capitalization amounts to $68,388,874, with a circulating supply of 420 billion tokens. The fully diluted valuation reflects the market capitalization, indicating that no further token issuances are expected, which could stabilize the price in the long term.
In the past 24 hours, PEIPEI price movement has ranged between $0.061476 and $0.062326, showing a narrow trading band. Over the past seven days, the token's price fluctuated between $0.061038 and $0.062332, maintaining a relatively stable range despite broader market pressures.
PEIPEI Price History: Highs, Lows and Trends
Historically, PEIPEI reached its all-time high of $0.062387 on June 8, 2024, just a few days ago. Interestingly, it hit an all-time low of $0.077909 on June 7, 2024, highlighting a quick one-day recovery. This volatility underlines the token's responsiveness to market events and investor sentiment.
The 24-hour btc price change shows a decrease of 0.0112349 btc (-22.0%), while the eth price change is 0.0104452 eth (-21.4%). These movements indicate that PEIPEI's performance is closely linked to major cryptocurrencies, particularly bitcoin and ethereum. The 24-hour trading volume has decreased by 42.70%, suggesting a possible short-term downtrend as traders possibly consolidate their positions.
PEIPEI Trading on Uniswap: Booked Volume of $88,046
PEIPEI is actively trading on multiple platforms including Uniswap V3 and V2, and Matcha (ethereum). On Uniswap V3, the PEIPEI/DAI pair recorded a trading volume of $88,045.77. This diverse presence on the exchange ensures liquidity and access for traders, although the significant decrease in trading volume could indicate reduced trading interest or market uncertainty.
The global cryptocurrency market experienced a drop of -1.60%, while cryptocurrencies in the ethereum ecosystem rose by 12.70%. In this context, the PEIPEI price remained unchanged over the past seven days, suggesting a divergence from broader market trends. This could be indicative of unique factors influencing PEIPEI market behavior, regardless of overall market sentiment.
Market Trends: Impact of US Employment Data
The recent market slowdown was significantly influenced by US employment data that exceeded expectations, triggering a sell-off. Markus Thielen, head of research at 10x Research, highlighted the mixed signals from the US jobs data, suggesting possible rate cuts that could benefit bitcoin and, by extension, the broader crypto market.
The US Employment Summary Report for May showed an increase of 272,000 jobs, and the unemployment rate increased slightly to 4.0%. This mixed economic data created uncertainty, affecting investor confidence in riskier assets like cryptocurrencies.
Broader Market Trends: Impact on PEIPEI Token
Within the broader market, bitcoin (btc) is currently trading at $69.39, remaining stable over the past 24 hours. ethereum (eth) is priced at $3,669, a slight decrease of 0.53%. In general, altcoins have struggled, with Pepe down 18%, Solana down 3.7%, and Dogecoin down 10.7% over the past week. These trends suggest a challenging environment for altcoins, including PEIPEI.
Bullish sentiment: community opinion on the token
Despite recent price volatility, community sentiment towards PEIPEI remains optimistic. This optimism is crucial as it can drive adoption and future price movements. The creators also integrated the token into MetaMask, allowing users to easily manage their PEIPEI holdings.
Future Outlook: PEIPEI Predictions and Price Trends
Given current market dynamics and historical performance, future PEIPEI price movements will likely depend on broader market trends and specific developments within the token ecosystem. If the overall cryptocurrency market stabilizes and shows growth, PEIPEI could benefit from this positive momentum. However, any adverse economic data or regulatory changes could negatively affect its price.
Analysts suggest that mixed US employment data could lead to economic policies that favor cryptocurrency growth, which could push bitcoin to new highs. This scenario could positively influence PEIPEI, given its correlation with the main cryptocurrencies. However, traders should be cautious and consider market volatility and external economic factors when making investment decisions.
Investor Conclusions: PEIPEI Market Analysis
PeiPei (PEIPEI) presents an intriguing case for investors, characterized by recent volatility and strong community support. Its current price of $0.061627 reflects a market facing significant challenges, but its historical resilience and future growth potential provide a compelling narrative. By closely monitoring market trends, economic indicators, and community sentiment, investors can make informed decisions regarding their PEIPEI holdings. As always, diversification and thorough market analysis remain key to navigating the complex world of cryptocurrency trading.
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