Key Highlights:
- PEPE’s value escalated over 4% in the last 24 hours and nearly 10% this week, fueled by significant buying momentum.
- The CoinDesk Memecoin Index (CDMEME) witnessed a rise of over 11%, surpassing Bitcoin’s 1.4% increase, with the broader sector up by 2.5% in 24 hours against Bitcoin’s 0.2%.
- PEPE has established a support level around $0.00001017 and a resistance at $0.00001082, bolstered by multiple tests of roughly $0.00001069.
Popular meme-inspired cryptocurrency PEPE has demonstrated a significant increase, climbing nearly 10% over the past week, marking a strong resurgence in interest among meme-based tokens. This follow-up occurs as the CoinDesk Memecoin Index (CDMEME) records over an 11% growth, compared to Bitcoin’s modest movement of 1.4%. In addition, the memecoin market achieved a 2.5% rise in just 24 hours, contrasting with Bitcoin’s minimal 0.2% gain.
PEPE fluctuated from $0.00001013 to $0.00001074, meeting new short-term resistance around $0.00001082, according to CoinDesk Research’s technical insights. The trading volume surged significantly with over 5.89 trillion PEPE tokens exchanged at peak rally times, more than double the average of the last 24 hours.
This current price trend illustrates a consistent formation of higher lows, indicating that investors are consistently willing to purchase at elevated prices, often signaling accumulation by more involved market participants. During peak activity, the token briefly reached $0.00001081 before stabilizing lower, hence revealing a new resistance threshold while securing a strong support range around $0.00001017. These price constraints have been verified on several occasions, helping to shape traders’ expectations regarding future movements.
The rally exhibited robust liquidity and persistent demand, particularly evident during repeated tests of the $0.00001069 level, which has proven resilient each time it was revisited.
