The value of the frog-themed meme coin Pepe (PEPE) has surged by over 10% in the last 24 hours, reaching $0.0000092 per token. Despite the overall cryptocurrency market downturn, PEPE has shown resilience, edging closer to breaking out of its descending channel pattern. This downtrend has seen PEPE's value drop by 25% in the past month, forming a bearish descending channel since June 25. However, recent price movements indicate a potential breakout as PEPE approaches the upper resistance line at $0.000013. Supported by increased demand and positive Price-Daily Active Address Divergence, PEPE's rally suggests a bullish trend. The rising Relative Strength Index (RSI) further indicates a possible uptrend continuation towards $0.0000096. Nevertheless, a decline in buying activity could see PEPE retract back into its descending channel. Investors are advised to conduct thorough research and seek professional advice before making financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news