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More →Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?
The frog-themed meme coin has defied the latest market correction, pumping double digits today (October 23) and reaching a monthly high. Some analysts believe the price could rise further in the short term, but key factors suggest the move hasn’t been healthy and might be followed by a pullback. PEPE is one of the top-performing cryptocurrencies today and currently trades near $0.000005076. Its market capitalization has surged past $2.13 billion, making it the 50th-largest cryptocurrency and, once again, the fourth-biggest meme coin. Recall that yesterday (October 22), MemeCore (M) briefly took that position after <a href="https://cryptopotato.com/memecore-m-flips-pepe-pepe-after-pumping-25-in-a-day-details/" rel="nofollow" target="_blank">posting</a> a significant price increase. <a href="https://x.com/TokenTalk3x/status/2112826521102721179" rel="nofollow" target="_blank">According</a> to Token Talk, PEPE’s bulls have “one job right now”: push the token’s market cap above $2.21 billion. “The daily structure has improved massively from the summer lows, but resistance is resistance until proven otherwise,” the analyst added. X user Sjuul | AltCryptoGems also <a href="https://x.com/AltCryptoGems/status/2113248262987870219" rel="nofollow" target="_blank">issued</a> a bullish thesis, saying he still likes the PEPE chart, which is showing signs of “relative strength.” He believes buyers must now hold that flipped support/resistance level to trigger an additional potential pump. For his part, Crypto With Gopal <a href="https://x.com/cryptowithgopal/status/2113563112704192922" rel="nofollow" target="_blank">claimed</a> that PEPE has flashed an inverted head-and-shoulders reversal, with price pushing toward the $0.0000050-$0.0000053 neckline zone. He said a confirmed breakout could trigger a powerful recovery move and argued that bullish momentum has been building. Despite the impressive uptick, PEPE remains a meme coin, making it especially vulnerable to speculation and volatility, so a short-term correction wouldn’t be a surprise. The token’s Relative Strength Index (RSI) supports that scenario. The technical analysis tool runs from 0 to 100, where anything above 70 means that PEPE has entered overbought territory and could be headed for a pullback. Conversely, readings below 30 are typically seen as buying opportunities. Recently, the ratio exploded to 94. PEPE’s exchange netflow is also worth monitoring. Inflows have dominated outflows lately, suggesting investors have shifted from self-custody to centralized platforms, increasing immediate selling pressure. The post <a href="https://cryptopotato.com/pepe-pepe-rises-11-daily-further-pump-or-correction-on-the-way/" rel="nofollow" target="_blank">Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow" target="_blank">CryptoPotato</a>.
NFT sales rose 66.58% to $76.56 million, with Bitcoin leading the market.
CoinWorld data: As of October 24, NFT sales rose 66.58% over the past seven days to $76.56 million, with Bitcoin dominating blockchain transaction volume and sales of $x BRC-20 NFT collectibles exceeding $25 million. NFT seller addresses increased 53.09% to 135,930. Both sides of the market expanded along with trading activity, although the dollar value of sales grew faster than the number of transactions. The dashboard recorded 764,169 transactions, compared with about 565,849 in the previous period. Compared with sales of about $45.96 million in the previous seven days, the latest increase was about $30.6 million. Bitcoin generated $31.07 million in NFT sales, up 268.06% from the previous seven days. Buyer addresses increased 86.79% to 8,581. Ethereum sales were $24.64 million, up 32.59%.
DEX 24-hour trading volume stands at 7.824 billion USD.
CoinWorld data: Within the scope, DEX 24-hour trading volume was 7.824 billion USD, a decrease of 0.59% compared with the previous statistical period under the same methodology. Among them, the DEX trading volumes of the five monitored public chains were: Ethereum 1.043 billion USD; Solana 2.021 billion USD; BSC 1.134 billion USD; Base 939 million USD; Arbitrum 151 million USD.
Coinbase Derivatives will undergo a 9-hour maintenance today.
Coinbase Markets announced that Coinbase Derivatives will undergo scheduled maintenance starting today at 5:00 AM (Central Time), expected to last 9 hours.
Russia says it struck deployment points of foreign mercenaries in Ukraine.
BiJie Network News: Today, Russia released a battle report stating that the operational-tactical aviation, attack drones, missile forces, and artillery of various Russian troop groupings struck 147 areas, including energy and transportation infrastructure used by the Ukrainian Armed Forces, storage and launch sites for long-range drones, and temporary deployment points of Ukrainian troops and foreign mercenaries. Russian air defense forces shot down one Storm Shadow cruise missile, four Neptune missiles, and 1,297 fixed-wing drones.
Both U.S. parties criticize AI executives for being out of touch with the public, demanding they talk less and do more.
According to news from Bijie, U.S. lawmakers from both parties and political figures believe that leading figures in artificial intelligence (AI) are gradually becoming a political liability, and they are demanding that they, like the heads of other major industries, talk less and do more, focusing on developing products and ensuring safety. AI industry leaders frequently discuss digital consciousness and global catastrophe, turning regulatory debates into moral panics that are almost impossible to resolve. Instead of actively promoting the benefits of artificial intelligence, they continuously warn of potential existential threats, further fueling public backlash against the AI industry.
SPY off-exchange short sale volume ratio reported at 57.08%
BiJie Network US stock data: SPY's off-exchange short selling volume accounted for 57.08% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it rose by 0.8377 percentage points; compared with the same-caliber snapshot 7 days earlier, it rose by 0.3323 percentage points.
Ethereum liquid staking protocol Swell suspends sweth and rsweth deposit and withdrawal services.
According to Unchained, the Ethereum liquid staking protocol Swell has suspended deposits and withdrawals for sweth and rsweth until the net asset value (NAV) and exchange rates of the two tokens are corrected and then restored. Data shows that the exchange rates reported by the sweth and rsweth contracts are approximately 1.203 ETH and 1.138 ETH, respectively, about 6% and 5% higher than previous normal levels, while the actual DEX trading prices are approximately 1.089 WETH and 1.029 WETH, respectively. On-chain analyst Spreek suspects that the relevant token management keys have been leaked and has discovered a malicious upgrade contract that may affect approximately 2,500 ETH, but no related upgrade has yet been found to have been officially executed. Swell stated that the ETH in the relevant contracts has not been transferred out, and the specific cause is still under investigation.
Ziguang Co.: The construction of computing power infrastructure continues to drive sustained improvement in demand for the company's networking, server, and other products.
CoinWorld news, [Unisplendour: Computing power infrastructure construction drives continued improvement in demand for the company's networking, server, and other products] Cailian Press, October 24 — Unisplendour stated in a reply to investors on its interactive platform that the construction of computing power infrastructure has driven continued improvement in demand for the company's networking, server, and supernode products. The company will collaborate efficiently with upstream and downstream partners across the industry chain and, relying on a diversified, stable, and sustainable supply chain system, ensure stable and continuous delivery. Regarding overseas business expansion, since the beginning of the year, the company has implemented multiple benchmark overseas projects.
Grayscale: Token supply growth may dilute holder rewards
Coin World news, Grayscale has released an analysis report warning that token supply growth in cryptocurrency applications may dilute holder rewards, and proposes a yield-oriented valuation framework. The framework calculates yield by comparing protocol revenue to market capitalization and deducts circulating supply inflation. Among the top 100 tokens by market capitalization in the FTSE Grayscale Financials Crypto Sector, HYPE holders' yield reached 8.0%, CRV was -5.5%, and CAKE had the highest adjusted yield at 14.4% (data as of October 20). Grayscale distinguishes between buybacks and burns, and values Bitcoin separately as a digital commodity.