PEPE is trading in the $0.000014 range.
Its daily trading volume has surged by over 51%. With the greedy sentiment in the crypto market, all the major assets have jumped to their new highs. Notably, the meme coin market cap rests at around $83.5 billion, after a 3.2% gain. Meanwhile, the frog-themed meme coin, PEPE, has recorded a 10.95% surge.
PEPE kickstarted the day trading at a low of around $0.00001309. Later, the bullish command has likely pushed the meme coin to a high of $0.00001536. PEPE is trading around the $0.00001464 mark, with its market cap resting at $6.16 billion.
Consequently, PEPE’s daily trading volume has surged by over 51.93%, reaching $2.76 billion. Furthermore, the market has witnessed a $6.37 million PEPE liquidation within this interval, as per Coinglass data.
Over the last seven days, PEPE has registered a solid 80.62% gain. The meme coin opened the week trading at around 0.0000076. With the potential bullish shift, it has risen to the current trading level.
Will PEPE Climb Higher or Lose Steam?
The four-hour PEPE/USDT pair shows a brief bullish pattern on the charts. The formation of the green candles could likely trigger the price to climb to $0.00001486. Further upside correction has the potential to push the meme coin to the $0.000015 range.
If the price chart prints with a red shade, erasing the recent gains, it triggers the downside correction. It will find immediate support at the $0.00001442 level. The longer the bears stay, PEPE might form the death cross, aiming for a lower target at around $0.000013.
PEPE chart (Source: TradingView)
The MACD line of PEPE is settled just above the signal line, indicating a brief upside momentum. This crossover is an early sign of upward momentum. Besides, the CMF reading of -0.00 suggests neutral sentiment; there is no significant buying or selling dominance within the market.
An RSI value of 78.58 implies that the meme coin is in overbought territory. This hints at a price correction or pullback. In addition, the BBP reading resting at 0.00000279 signals a slight uptrend, with the bulls having a minor edge over the bears.
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