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Pepe’s value has surged 7% in 24 hours, reaching $0.0000207, as the crypto market recovers. 🎉 This New Year’s Day rally helped PEPE recover from a tough week, as it gained 18% in value in seven days.
However, the 1% increase over the past month raises concerns about a possible return to the all-time high seen in early December. 😟
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Musk's temporary effect 🤖✨
Despite the upswing, Elon Musk’s brief use of the PEPE symbol in his X profile picture suggests the coin could see a strong rally this year. But as Musk’s influence wanes, many are wondering if this is the beginning of a bigger downturn.
PEPE's pre-new year trip 🎄📉
PEPE had been struggling before the new year, with Christmas Day not being a cheerful one. After Musk changed his profile picture to PEPE, the coin saw a surge, but then fell again after the surge, although it has seen a 7.5% increase from its low of $0.00001915.
Trading volume and buying pressure 📈💹
PEPE's 24-hour trading volume has increased from $2 billion to $2.3 billion, reflecting the growing enthusiasm. The RSI (purple) also indicates increasing buying pressure.
After rising above the 200-period average (blue) on New Year's Eve, the 30-period average (orange) also appears to be on the rise.
Conclusion 🔑
Together, these signals suggest that PEPE has entered a market-like growth phase. But as external influences fade, the question remains: Can this trend continue? 💪🚀
Stay tuned and watch for upcoming moves! 📚💡