Quick Summary:
PEPE was up by 8.39 percent and was hovering at a price of $0.00001264
Market cap: $5.44 billion
Daily volume: Rallied about 82.67 percent to 1.29 billion
Important resistance: 0.00001297
Minor resistance: 0.00001335
RSI: 69.27 – close to being overbought
Chaikin Money Flow (CMF): 0.11 – average buying pressure
Coinglass Liquidation Report: PEPE liquidation reached the amount of $5.68 million
Short-term outlook: Bullish indicators hint at upside
Market Overview: PEPE spearheading meme coin rally
The market is also going green with the total capitalization increasing by 3.31 percent amounting to $3.42 trillion. Meme coins have not been left out as they have taken an impressive 6% gain elevating their total market cap to 66.8 billion dollars. The one that has taken the center stage among these is PEPE that has also gained 8.39%, driven by the volume and positive momentum.
As meme coins gain popularity back, PEPE currently hovers around the mark of 0.00001264, as its price had fallen to 0.00001174 and risen to 0.00001291 earlier today.
PEPE Bulls Cross Powerful Resistance
Frog-themed meme coin has already passed resistance levels of 0.00001198 and 0.00001285 which is a bullish indicator. The breakout is in line with a tremendous trading volume increase as the trading volume improved by more than 82.67 percent to reach a trading volume of 1.29 billion thus showing that traders were becoming active.
PEPE chart (NYDExhenighoodsTradingView)
PEPE Market Stats:
| Metric | Value |
|---|---|
| Current Price | $0.00001264 |
| Market Cap | $5.44 Billion |
| Daily Trading Volume | $1.29 Billion |
| RSI | 69.27 (approaching overbought) |
| CMF | 0.11 (moderate inflow) |
| BBP | 0.00000137 (bulls in slight control) |
Moving Average Convergence Divergence (MACD) also depicts the dynamic line positioned above the signal and an indication that is often bullish. In the meantime, Chaikin Money Flow (CMF) is set at 0.11, indicating that money is flowing in the asset supporting upward pressure.
PEPE chart (Source: TradingView)
🎯 Key PEPE Price Levels to Watch
| Level | Importance |
|---|---|
| $0.00001297 | Immediate resistance |
| $0.00001335 | Short-term upside target |
| $0.00001250 | Minor support |
| $0.00001222 | Critical support |
Technical Charts Information
There is a thick presence of green candles in the 4-hour PEPE/USDT chart, which implies high pressure on the upside.
In case bulls maintain strength, the rejection of the price at $0.00001297 may happen in the nearest future.
A break can introduce the new high of $0.00001335.
Nevertheless, a fall below 0.00001250 can result into a retest of 0.00001222 which is a very significant support zone.
Overbought Warning? RSI Close to 70
The Relative Strength Index (RSI) stands at 69.27 at the verge of overbought. This may indicate that a price adjustment is coming or at least a correction. The traders are advised to look out a possible pullback then long positions will be entered.
PEPE Liquidations Market Sentiment
Coinglass shows that PEPE had liquidations of 5.68 million and the volatility is higher. That is against the backdrop of a market euphoria of greed, with the general sentiment being long-winded.
The PEPE price is expected in short-term with strong technicals, increasing volume, and bull activity. Nevertheless, one should be cautious because RSI suggests the segment of overbought conditions. Provided that the resistance is sufficiently breached, the price might be sped towards 0.00001335, but volatility can be expected.