Pepe (PEPE) follows bull rally – brief analysis by CoinPedia
In the 1D chart, the PEPE price trend shows a massive overnight surge of 24.63% to form a bullish engulfing candle. The sudden jump in the meme coin comes marks a successful retest of the 50% Fibonacci level.
With a market cap of $4.65 Billion, the PEPE price ranks at 24th position in the crypto world. Further, the $2.24 Billion trading volume with an 182% rise within 24 hours reflects a rise in buying activity.
Further, the meme coin closed strong last night at $0.00001142. However, the intraday drop of 2.90% reflects a minor correction and exhaustion in buyers.
In case the bull run continues with the broader market recovery, the uptrend in PEPE price could hit the $0.000019 mark at the 1.618 Fibonacci level.
