Since May 8, PEPE's price has surged by 65%, reaching $0.00001345. This increase is attributed to the overall rising interest in meme coins and renewed optimism in the crypto market.
Price Dynamics of PEPE
Today, PEPE is trading at $0.00001345 after a significant increase since May 8. This rise has turned several resistance zones into support, indicating broad strength among meme coins.
Confirmed Trend Reversal
On the 4-hour chart, PEPE broke out of a bullish wedge near $0.00000850 on May 8. This behavior signifies the end of a multi-month downtrend that began in February, now being replaced by an upward movement.
Current Resistance and Support
PEPE’s price is testing a key resistance zone around $0.00001450. This level aligns with the 0.5 Fibonacci retracement from the November 2023 high to the January 2024 low. Success at this level could strengthen the current positive trend.
The sharp increase in PEPE's price since early May, coupled with its confirmed reversal on the charts, creates positive expectations for future movement, although the resistance level at $0.00001450 remains critical.
