Expectation of Pepe Price Rally Due to Massive $900M Inflow

Meme coin prices have risen by an average of 7.45% today because to the PEPE price's significant rebound, which occurred amid indications of a market revival.

As the market as a whole shows signs of improvement, PEPE has also seen a jump, increasing 10.64% in the last day to $0.000012.

Bitcoin (BTC) and Ethereum (ETH), two prominent cryptocurrencies, have retraced their losses, whereas PEPE has registered an 8.38% weekly gain.

An other indicator of a trend reversal is the 54.73% increase to $906.71M in PEPE's 24-hour trading volume.

Is the PEPE Price Retesting Key Support Signaling the End of the Sell-Off?

It seems like PEPE is preparing for further upside with the continued favorable price action.

The 30-day moving average (yellow) of PEPE is heading in the right direction and is about to meet the 200-day moving average (blue). This may signal a change to an uptrend, since it shows significant short-term momentum.


If the 30-day moving average successfully surpasses the 200-day moving average, it would confirm this change. Because short-term momentum is outperforming the broader downtrend, a crossing of this kind would pave the way for more higher.

Technical analysis and PEPE price chart. Written by Binance.

The fact that the PEPE price has managed to recover from the red $0.00001155 support level suggests a strong belief in the recovery and may indicate that the uptrend will continue, lending credence to my prediction.

Furthermore, the relative strength index (RSI) (purple) for PEPE has increased from 30 to 70 in the last 24 hours, indicating that purchasing pressure has surpassed selling pressure.

The fact that PEPE does not have any solid fundamentals means that it is subject to larger market fluctuations. Importantly, meme coins are becoming more popular with traders as they surpass other top cryptocurrencies in terms of performance.

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