During the week, there was an 80% increase in the price of the Pepe Price Up Rising Daily meme coin. At the moment, moving averages point to a very optimistic signal in the market. The meme coin is at number six among the most actively traded cryptocurrencies.
An homage to the online meme Pepe the Frog inspired the creation of Pepe (PEPE), a deflationary meme token that debuted on the Ethereum platform. Project goals include capitalizing on meme currency popularity, similar to Shiba Inu (SHIB) and Dogecoin (DOGE).
The most recent valuation shows that the PEPE price is doing quite well. The bull run has begun and is now proceeding rather well. The future of memecoin and its investors is uncertain, but we shall see.
The Ongoing Bull Run in the PEPE Crypto: Where is the Price Heading?
Around the world, the memecoin has been receiving a lot of attention since February 2024. As a result of February’s encouraging findings, the remaining investors, cruisers, and merchants got together in March of 2024. In causing certain price discrepancies, they boosted the Pepe Price Up Rising Daily cryptocurrency price by more than 210%.
Conversely, sellers devoted April 2024 to bolstering the corrective period. The price corrected several significant imbalances throughout the corrective phase. The price then went through a robust bullish swing. Because of this, there has been a jump of more than 150% in the past month.
Price Volatility & Social Dominance Analysis
The global social buzz surrounding cryptocurrencies increased by approximately 2% by the end of February 2024. The price of meme coins skyrocketed after that sudden increase swayed fans all around the globe. Societal attitudes have significantly impacted the PEPE meme coin. Conversely, buyer interest is increasing in the price and social dominance, both rising this session.
Technical Analysis of the Pepe (PEPE/USD) Price
Optimism reigns when prices rise over the meaningful exponential moving average (EMA). The price exhibits a solid uptrend by crossing the 50-day exponential moving average (EMA). When necessary, this EMA might provide price support. The Pepe Price Up Rising Daily has indicated a break above the $0.00001103 resistance level. Up to the $0.00001716 mark, it showed a bullish gain of over 54%.
Buyers are actively trying to drive up prices right now. From a technical perspective, the memecoin price strongly indicates a positive trend. Additionally, the RSI is displaying positive momentum at the time. It shows buyers are more confident in the present market pricing than sellers. At 77.63, the RSI is trading higher than the SMA line.
Summary
Since the middle of April 2024, the PEPE memecoin price has been steadily rising. In the time after, this cryptocurrency has experienced a bullish gain of more than 220%. The purchasers drive the cost to its all-time high, indicating that the bull run is strong. Market technicals point to an optimistic picture for the upcoming trading sessions.
Technical Levels
At the moment, $0.00001716 was PEPE’s immediate barrier to entry, while $0.00000896 was its next support. The price has broken through the upper resistance and may keep going up. But if prices go below the support levels stated, we may see a retreat to lower levels.
Disclaimer
For informational purposes only, the author and any specified individuals express their views and opinions in this article. They are not an investing, financial, or any other advice source. You can lose money if you invest in or trade cryptocurrency or stocks.
