Can the Pepe coin price rise 35% as smart money holders sell?

Pepe coin price continued its strong recovery after tumbling to a monthly low of $0.0000144 in December.

Pepe pepe-4.37%Pepe, the third-largest meme coin in crypto, rose to a high of $0.00002175, its highest level since December 18. The token has jumped by approximately 50% from its December low.

Pepe’s rebound aligns with the broader recovery in meme coins. Dogecoin doge1.42%Dogecoin, the largest meme coin, has surged by over 20% in the last seven days, while ai16z, Fartcoin, and SPX6900 have all soared by more than 50%. The total market cap of all cryptocurrencies has now risen to over $125 billion.

Pepe’s surge also coincides with signs of accumulation. According to data from Nansen, the total number of tokens held on exchanges has dropped by 0.70% over the past week to 235.85 trillion. The total supply on exchanges has now retreated to 56%.