What awaits Pepe (PEPE) after 28% increase? – analysis by AMBCrypto
While the crypto market turned bullish, Pepe (PEPE) caught investors off guard as it registered explosive growth in the last 24 hours.
Meanwhile, buying pressure on the memecoin started to rise, suggesting that its bullish price action would continue further.
CoinMarketCap’s data revealed that in the last 24 hours alone, the memecoin’s price increased by more than 28%.
At the time of writing, PEPE was trading at $0.00001237 with a market capitalization of over $5.2 billion, making it the 22nd largest crypto.
Thanks to the recent price increase, nearly 80% of PEPE investors once again were in profit, as per IntoTheBlock’s data.
The double-digit price increase gave investors hope about the possibility of PEPE entering the top 20 list, as the market cap difference between the memecoin and the 20th largest crypto was just over $200 million.
Meanwhile, Lookonchain posted a tweet that suggested high confidence in the memecoin.
According to the chart, if the price rise continues, then the chances of PEPE entering the top 20 list are high. What is more, MACD displayed a bullish crossover.
Additionally, both its Relative Strength Index (RSI) and Chaikin Money Flow (CMF) registered upticks, indicating that the memecoin might continue its bull rally.
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