According to CoinJournal's analysis, PEPE has witnessed a remarkable 851% surge in price over the last month, despite a recent slight pullback. This surge is attributed to various factors, including the overall bullish sentiment in the cryptocurrency market and PEPE's unique branding and active community engagement.
Technical indicators present a mixed outlook, with moving averages suggesting a bullish trajectory while the Relative Strength Index (RSI) signals potential overbought conditions.
The 4-hour chart indicates a parabolic structure, possibly pushing towards the $0.000010 mark, with the 50-day moving average acting as a support level.
While there was a minor pullback on March 7, the ascending 200-day moving average since February 9 reinforces bullish sentiment.
However, caution is advised if the $0.0000066 support level is breached, potentially presenting a new entry point at $0.0000070 before a renewed rally.
Investors are advised to navigate carefully, considering both optimistic moving averages and the cautious RSI signal.
