The crypto Pepe is seeing its second-largest surge in price, skyrocketing by a staggering 250% over the past week.

Simultaneously, trading volume has surpassed $2 billion, signaling robust interest from buyers. Moreover, the unprecedented scenario of the entire supply being in a profitable position, reaching 100%, hints at potential further increases in the days ahead.

Here’s a breakdown of all the details:

Summary

• Crypto Pepe witnesses a 250% price surge in a week
• Analysis of RSI and Pepe’s profitability
• Interaction between Vitalik Buterin and PepeCoin

Crypto Pepe’s 250% Price Surge

As expected, the renowned crypto Pepe is undergoing its second significant price surge in history, coinciding with an unparalleled total supply.

Pepe’s recent performance has been exceptional, with substantial increases elevating tokens into profitable territory. The coin’s volatility is evident, with daily gains exceeding 40%, the second such surge within a week, including a notable 45.62% increase on March 1st.

This follows a series of bullish trends, with a 32% rise on February 26 and a record peak of 47.51% on February 27, marking its highest daily increase to date.

An analysis reveals an overall 250% surge in the past seven days, with Pepe still climbing at the time of writing, showing a further 1% increase.

RSI and Pepe’s Profitability

Meanwhile, the Relative Strength Index (RSI) indicates historical levels, nearing 86, signaling a strong bullish trend and an overbought situation, a first in Pepe’s history.

Santiment’s volume analysis surpassed $2 billion on February 28 and 29, a substantial uptick compared to the previous $400 million. This surge in volume correlates with increased transactions, fueled by the continuously positive price trend, affirming buyer dominance and bolstering trading volumes.

Pepe’s recent surge has made it highly profitable for holders, with over 420 trillion units now in a profitable position. The entire supply being in circulation, reaching 100%, is a unique occurrence in Pepe’s brief history. This unprecedented scenario could incentivize more traders to buy in, potentially leading to further price hikes in the days ahead.

Vitalik Buterin and PepeCoin Interaction

Recently, Ethereum founder Vitalik Buterin showed appreciation for an old tweet about “PepeCoin” from 2017. The tweet, by Emin Gün Sirer, founder of Avalanche (AVAX), humorously mentioned PepeCoin in reference to Ethereum Classic.

Despite PEPE being launched just a year ago as a memecoin, it has experienced significant growth. While memecoins, particularly in the Ethereum ecosystem, are seeing substantial increases and garnering attention, Pepe’s price appears unaffected by Buterin’s recent acknowledgment.

Buterin’s history with memecoins, including his sizable donation of SHIB tokens for Covid-19 relief in India, when Shiba Inu (SHIB) was popular, has sparked community reactions. However, it remains unclear why Buterin chose to appreciate the old PepeCoin tweet after all these years.