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Pepe (PEPE), the meme-inspired cryptocurrency, is showing signs of renewed bullish strength after rebounding from recent market lows. Over the past month, PEPE has surged from a local low of $0.0000052 to a local high of $0.0000075—marking a solid recovery and a positive shift in investor sentiment.
At press time, the token was trading at $0.0000073, sitting comfortably above its 200-day Simple Moving Average (SMA). This represents a 3.94% increase over the past week, with bullish indicators also emerging on both monthly and daily charts.
One of the most noteworthy technical developments is the formation of a golden cross in the 4-hour timeframe—where the short-term moving average crossed above the long-term moving average. The 9-day MA currently stands at $0.0000072, ahead of the 21-day MA at $0.0000069. If momentum continues, a golden cross could form on the daily timeframe, further solidifying bullish expectations.
According to AMBCrypto’s analysis, PEPE is benefiting from increased accumulation as investor demand climbs. On-chain data from CoinGlass shows consecutive days of negative netflows, indicating more tokens are leaving exchanges than entering—an encouraging sign of investor confidence and long-term holding behavior.
Additionally, Open Interest (OI) has spiked by 8.22% to $293.43 million, suggesting a surge in new positions. With 53% of futures traders taking long positions, the Long/Short Ratio reveals bullish dominance in the market.
Momentum indicators support the trend. A bullish crossover on the MACD points to strengthening upward movement, reinforcing the potential for continued price appreciation.
If PEPE sustains current demand levels and the bullish technicals hold, the memecoin could target $0.0000078 in the short term. However, a wave of profit-taking might trigger a pullback to $0.0000069.
Still, the charts suggest that Pepe’s momentum is far from over, with a growing number of traders betting on the meme token’s continued climb.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Pepe (PEPE) Coin Jumps Off 2024 Low of $0.000005238 as RSI and MACD Turn Bullish
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
