The favored frog-themed memecoin PEPE surged 10% in 24 hours to achieve $0.00001049, fueled by technical alerts that might level to extra upside amid a wider memecoin market rise.
The token climbed from $0.00000949 to $0.00001049, hitting a peak of $0.00001077 in early buying and selling earlier than retracing barely.
A key technical sample, a golden cross, the place the short-term transferring common rises above the long-term common, has shaped on PEPE’s chart, hinting at sustained bullish momentum.
A golden cross is broadly watched in buying and selling circles as a result of it means that latest shopping for stress may carry over right into a longer-term rally.
Buying and selling quantity spiked considerably through the rally, hitting 13.7 trillion tokens in a single hour as the worth began lifting, and seven.7 trillion in a while, underscoring the depth of the rally.
In the meantime, the broader memecoin sector, in line with the CoinDesk Memecoin Index (CDMEME), rose 11.4% within the final 24 hours.
Regardless of a pullback from the highs, PEPE has established a powerful assist stage close to $0.0000101, in line with CoinDesk Analysis’s technical evaluation information mannequin. Fibonacci extension ranges counsel the worth may push towards $0.0000110 if the rally holds.
The cryptocurrency has outperformed the broader cryptocurrency market during the last 24 hours, as measured by the CoinDesk 20 (CD20) index, which rose 5.92% in the identical interval.
