Pepe (PEPE) price has defied all odds amid the recent crypto market crash. The very popular meme coin has witnessed a major price jump today. At press time, the PEPE coin is trading at $0.0000126. Its price has risen 8.02% in the last 24 hours, for data from CoinMarketCap.
Pepe (PEPE) price has defied all odds amid the recent crypto market crash. The very popular meme coin has witnessed a major price jump today. At press time, the PEPE coin is trading at $0.0000126. Its price has risen 8.02% in the last 24 hours, for data from CoinMarketCap.
The increased trading volume supports this price increase. Pepe’s 24-hour trading volume has increased by 23.52% to a whopping $1.1 billion. It is a clear indication of the resurgence of investor interest in the meme coin. Moreover, PEPE is likely to maintain this price increase thanks to the increased trading activity.
Pepe’s price is forecasting a strong boost
The recent price increase is just the tip of the iceberg. Pepe’s main metrics have turned bullish today. According CommerceSee dataThe RSI of the meme coin is currently at 53. This value shows that the PEPE token has broken out of the bearish zone and the sentiment has turned slightly bullish.
This data is an important indicator, as it shows us that Pepe’s price is neither in overbought territory nor in oversold territory. Historical patterns suggest that the current RSI level indicates a short-term rally for the Pepe coin.
Another important thing to note is that PEPE is currently trading above its 200-day simple moving average and its 200-day exponential moving average. It clearly shows that Pepe has managed to maintain its higher price levels despite the recent cryptocurrency bloodbath.
Furthermore, Pepe has managed to surpass other leading meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). It means that the coin has managed to overcome the bearish sentiment prevailing in the broader market. All in all, Pepe’s main metrics are now giving strong bullish signals and we may see a possible major rally from them.
