Pepe Coin Shows Strong Recovery Amid Market Volatility
Pepe (PEPE) is experiencing a significant bullish trend, with its 24-hour trading volume skyrocketing by 62% to approximately $846.23 million. This surge indicates that bulls are regaining control after a recent market correction.
As of now, Pepe coin is trading at $0.000009454, marking a 5.61% increase in the last 24 hours. The coin’s market cap has also risen by 5.59% to $3.98 billion, making it the 25th largest cryptocurrency by market cap. Despite a 21.07% decline over the past 30 days due to a broader market downturn, Pepe is showing signs of recovery.
Technical Indicators Support Bullish Outlook
Several technical indicators suggest that Pepe’s bullish momentum might continue. According to TradingView data, the coin is trading above its 200-day Simple Moving Average (SMA), a key support level indicating long-term bullish trends. The 200-day SMA often signals the overall market movement and stability of a cryptocurrency.
Additionally, the Relative Strength Index (RSI) for Pepe is currently at 44.9. RSI levels between 40 and 50 typically act as a support zone, indicating that despite short-term volatility, Pepe remains in a bull market.
These technical indicators collectively suggest that Pepe coin is poised for further gains, reinforcing the positive market sentiment.
