Pepe (PEPE) has remarkably defied the recent downturn in the cryptocurrency market. The popular meme coin experienced a significant price surge today. As of the time of writing, PEPE is trading at $0.0000126, marking an 8.02% increase in the last 24 hours.
This price rally is supported by a substantial increase in trading volume. Over the past 24 hours, Pepe’s trading volume surged by 23.52% to reach $1.1 billion, clearly indicating renewed investor interest in the meme coin. Moreover, the increased trading activity suggests that PEPE is likely to maintain its upward momentum.
Pepe’s Price Poised for Strong Momentum
The Relative Strength Index (RSI) for the meme coin currently stands at 53. This value indicates that PEPE has exited the bearish zone, with market sentiment turning slightly bullish. The recent price surge is just the tip of the iceberg, as key Pepe metrics have turned bullish today.
This data is a critical indicator, showing that Pepe’s price is neither in an overbought nor oversold region. Historical patterns suggest that the current RSI level points to a short-term price increase for Pepe.
Another important aspect to note is that PEPE is currently trading above its 200-day simple moving average (SMA) and its 200-day exponential moving average (EMA). This clearly demonstrates that Pepe has managed to sustain its high price levels despite the recent bloodbath in the cryptocurrency market.
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Additionally, Pepe has outperformed other leading meme coins. This means the coin has overcome the prevailing bearish sentiment in the broader market. Overall, Pepe’s key metrics are now giving strong bullish signals, indicating a potential significant rise.
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