Expectation of Pepe's price recovery due to huge capital inflow of 900 million USD
Meme coin prices have increased an average of 7.45% today thanks to a significant recovery in PEPE prices, which comes amid signs of market revival.
As the overall market shows signs of improvement, PEPE has also seen a jump, up 10.64% over the past day to $0.000012.
Bitcoin (BTC) and Ethereum (ETH), two prominent cryptocurrencies, have regained their losses, while PEPE has recorded a weekly gain of 8.38%.
Another indicator of a trend reversal is the 54.73% increase to $906.71 million in PEPE's 24-hour trading volume.
Major support for price retest Does PEPE signal the end of the sell-off?
It appears that PEPE is preparing for a further rally with price action continuing to be favorable.
PEPE's 30-day moving average (yellow) is moving in the right direction and is about to touch the 200-day moving average (blue). This could signal a change in the uptrend as it shows significant short-term bullish momentum.
If the 30-day moving average successfully crosses above the 200-day moving average, it will confirm this change. Because near-term momentum is outperforming the broader downtrend, a break of this type would pave the way to higher levels.
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