According to U.Today, Pepe (PEPE) is experiencing a bullish trend today. The meme coin has seen a remarkable increase of over 62% in its 24-hour trading volume, reaching approximately $846.23 million. This surge indicates that bulls are gaining control of the market as the PEPE price rebounds following a recent correction.
As of press time, Pepe coin is trading at $0.000009454, reflecting a notable jump of 5.61% in the last 24 hours. Additionally, the market cap of the coin has risen by 5.59% to $3.98 billion, making PEPE the 25th largest coin in terms of market cap. However, it is important to note that the price of Pepe token has decreased by 21.07% over the past 30 days. The crypto market experienced a severe crash in recent weeks, during which PEPE also struggled. However, the downtrend in the crypto market appears to be over, leading to today's significant recovery in Pepe's price.
While PEPE coin has already surged by 5.61% today, there are further indications of a potential price rally. According to TradingView data, the meme coin is trading above its 200-day Simple Moving Average (SMA). This level serves as a support level for PEPE and suggests that the token is bullish in the long term. The 200-day SMA typically indicates the long-term market movement of a coin, and despite daily market volatility, it highlights that the meme coin is in a bullish trend in the broader outlook.
Additionally, the Relative Strength Index (RSI) of PEPE supports this technical analysis. Currently, Pepe’s RSI is at the 44.9 level. Notably, an RSI in the range of 40-50 acts as a support zone for a coin, indicating that the coin is in a bull market despite short-term volatility. Overall, these technical indicators confirm a bullish trend for the Pepe token. 
