#PEPE市值超越LTC #PEPE

$PEPE tokens reached an all-time high on May 27, a significant increase largely attributed to the U.S. Securities and Exchange Commission’s (SEC) recent approval of an Ethereum exchange-traded fund (ETF) application. The news significantly boosted market sentiment, causing Ethereum-based memecoins such as PEPE to be viewed as high-risk but potentially high-return investment opportunities.

Since the SEC approved the Ethereum ETF application on May 20, the price of PEPE has achieved a staggering 88% increase. This growth not only reflects the market’s optimistic expectations for the Ethereum ETF, but also reflects investor enthusiasm for the Ethereum-based memecoin. Other similar memecoins, such as Dogecoin (DOGE) and Mog Coin (MOG), also experienced significant price increases on the news.

However, despite PEPE's strong market performance, analysts have warned that its continued upward momentum may weaken in the coming weeks. This is mainly due to the phenomenon of "bearish divergence" in PEPE. Bearish divergence usually means that price action is inconsistent with technical indicators, which is usually a potential turning point signal that may signal a possible price reversal.

Additionally, PEPE’s daily relative strength index (RSI) has exceeded 70, entering overbought territory. In technical analysis, an RSI above 70 is often considered a signal that the market is overbought, which may herald a price correction or consolidation period. This raises the possibility that PEPE may be at risk of a sell-off after a year of strong performance.

Recent profit-taking activity by the wealthiest PEPE investors has also further reinforced the market's bearish technical outlook. While these investors withdrew millions of dollars worth of PEPE tokens from exchanges, indicating their intention to hold on to the memecoin for the long term, the impact of these volumes on overall market supply figures is uncertain, adding to PEPE’s growth in 6 There is a risk of a possible correction in the month. #ETHETFsApproved #PEPE创历史新高