[Pepe price surges over 8% as major indicators turn bullish]
The price of Pepe (PEPE) has bucked the trend amid the recent crypto market downturn, with the popular meme coin witnessing a significant price jump today. At press time, PEPE coin is trading at $0.0000126, up 8.02% in the past 24 hours.
Underpinning this price increase is rising trading volume. Pepe’s 24-hour trading volume surged 23.52% to $1.1 billion, indicating a resurgence of investor interest in the meme coin. PEPE is likely to sustain this price increase as trading activity increases.
The main indicators for Pepe have turned bullish today. According to TradingView, the meme coin’s RSI is currently at 53, showing that the PEPE token has moved out of bearish territory and market sentiment has turned slightly bullish. This value indicates that the Pepe price is neither overbought nor oversold, and historical patterns suggest that this heralds a short-term rebound for the Pepe coin.
Furthermore, PEPE is currently trading above its 200-day simple moving average and 200-day exponential moving average, showing that Pepe has managed to maintain elevated price levels despite the recent sharp decline in the crypto market.
Notably, Pepe managed to outperform other leading meme coins such as Dogecoin (DOGE) and Shiba Inucoin (SHIB), overcoming the bearish sentiment in the market. Overall, Pepe’s major indicators are now sending out strong bullish signals, pointing to a potentially significant rally.
