Pepe (PEPE) Skyrockets 62% in Volume, What’s Happening?

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As a seasoned crypto investor with several years of experience in the market, I’ve seen my fair share of price swings and market volatility. But today, I’m excited to witness the bullish momentum of Pepe (PEPE) coin. With a 62% surge in its trading volume and a price increase of 5.61% in just 24 hours, PEPE is making a strong comeback after the recent correction.

Pepe (PEPE) is experiencing a significant surge today, with its value jumping over 62% in the past 24 hours, reaching a trading volume of approximately $846.23 million. This bullish trend indicates that the market’s momentum has shifted towards buyers, as PEPE recovers from the recent correction.

At present, Pepe coin is priced at $0.000009454 per unit based on the latest reports. This represents a significant increase of 5.61% over the past 24 hours. Furthermore, its market capitalization has grown by 5.59% to reach a total value of $3.98 billion. Consequently, Pepe coin ranks as the 25th largest cryptocurrency in terms of market cap.

As a seasoned crypto investor with years of experience under my belt, I have witnessed numerous market fluctuations. Thirty days ago, the price of Pepe token took a significant hit, plummeting by 21.07%. The crypto market as a whole experienced a severe crash during this period, leaving many investors like myself feeling the pinch.

Pepe price sees bullish momentum

PEPE’s price has risen by 5.61% so far today, but there are indications of additional gains based on TradingView data. The meme coin presently trades above its 200-day Simple Moving Average (SMA), which functions as a foundation for PEPE. This positioning suggests that PEPE is bullish in the long run.

The 200-day simple moving average (SMA) often signifies the overarching trend direction of a cryptocurrency. Despite the market’s daily volatility, this average suggests that the meme coin, PEPE, is experiencing a bullish trend in its long-term perspective. Furthermore, the Relative Strength Index (RSI) of PEPE aligns with this technical analysis.

From my perspective as a researcher studying the cryptocurrency market, I’ve observed that Pepe’s Relative Strength Index (RSI) currently stands at 44.9. It’s important to note that an RSI reading between 40 and 50 serves as a significant support level for a coin. This range suggests the coin is experiencing a bull market, even with short-term price fluctuations. Consequently, based on these technical indicators, I believe we are witnessing a prolonged uptrend for the Pepe token.

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2024-07-15 16:58