The favored frog-themed memecoin PEPE surged 10% in 24 hours to succeed in $0.00001049, fueled by technical alerts that would 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 would possibly carry over right into a longer-term rally.
Buying and selling quantity spiked considerably throughout the rally, hitting 13.7 trillion tokens in a single hour as the worth began lifting, and seven.7 trillion afterward, 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 robust assist stage close to $0.0000101, in line with CoinDesk Analysis’s technical evaluation knowledge mannequin. Fibonacci extension ranges counsel the worth might 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.
