Pepe has been riding a bullish wave recently, capturing attention in the cryptocurrency market with a significant outperformance despite market volatility. With the token eyeing an all-time high (ATH), let's dive into what's driving this momentum and what lies ahead.
**Price Action Indicates Outperformance: What's Next for PEPE?**
Pepe's price action was strong, maintaining gains above the major moving averages and forming a rounded bottom pattern, indicating a potential breakout. At present, PEPE is trading at $0.00000873, showing an intraday gain of 3.10%, with a monthly payout ratio of 22.30% and an impressive annualized return of 522.38%, painting a bullish picture in the long term.
**What drives momentum?**
Amid a period of relatively poor performance in most altcoins, PEPE has stood out, seeing consistent upward momentum and a notable 80% rally last month. Intraday trading volume increased by more than 12.90% to $1.12 billion. Furthermore, indicators such as MVRV, RSI, MACD, and GIOM ratio point to continued bullish sentiment, with buyers confidently adding to long positions while sellers remain weak.
* The immediate support levels for PEPE are $0.000008300 and $0.000008200, while major resistance levels are around 0.$000008600 and $0.000008800
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