The popular seed-themed Memecoin Pepe rose 10% in 24 hours to reach $ 0.00001049, powered by technical signals that could point to more the reverse in the middle of a wider Memecoin market rise.
The token climbed from $ 0.00000949 to $ 0.00001049 and hit a highlight of $ 0.00001077 in the early trade before they got a little back.
An important technical pattern, a golden cross, where the short -term sliding average rises above the long -term average is formed on PEPE’s chart suggesting lasting bullish momentum.
A golden cross is widely monitored in trade circles because it suggests that the recent purchase pressure can be transferred to a longer term rally.
Trade volume spiked markedly during the rally and hit 13.7 trillion tokens in a single hour when the price began to lift, and 7.7 trillion later, the intensity of the rally emphasized.
Meanwhile, according to Coindesk Memecoin Index (CDMEME), the wider MEMECOIN sector increased 11.4% over the past 24 hours.
Despite a withdrawal from the heights, Pepe has established a strong support level near $ 0.0000101, according to Coindesk Research’s technical analysis data model. Fibonacci extension levels suggest that the price can push against $ 0.0000110 if the rally holds.
Cryptocurrency has surpassed the wider cryptocurrency market over the past 24 hours, measured by Coindesk 20 (CD20) index that increased 5.92% in the same period.
