Is $PEPE Ready for a Comeback After Last Week’s Drop? - AMBcrypto Analytics

CoinMarketCap’s data revealed that the memecoin’s price dropped by 6% in the last seven days. In fact, the coin dipped to $0.0000106, which was last week’s lowest.

But the memecoin started to gain bullish momentum as its value surged by more than 2% in the last 24 hours. At the time of writing, PEPE was trading at $0.00001194 with a market capitalization of over $5.02 billion, making it the 23rd largest crypto.

The recent price uptick also allowed the memecoin to go above a key resistance level.

AMBCrypto’s analysis of the memecoin’s 12-hour chart revealed that it managed to break above $0.000012. However, at press time, it was trading a bit under that mark.

This breakout looked optimistic and could result in a full-fledged recovery if PEPE manages to once again go above the mark and sustain the momentum.

If that happens, then investors might witness PEPE retesting its all-time high in the coming weeks.