The cryptocurrency market continues to face a bearish trend despite some recovery attempts. In this context, the meme coin PEPE surprised analysts with significant growth.
Market Trends Overview
The total market capitalization of the cryptocurrency market has fallen to $3.92 trillion. Despite a brief spike of 1.35%, assets fluctuate between gains and losses. The market cap of meme coins has reached $79.3 billion, which is up 3.9% from previous values.
PEPE's Surge and Performance
In the last 24 hours, the meme coin PEPE rose by 11.21%, opening the day at $0.00001099 and reaching a high of $0.00001220. Currently, PEPE is trading at $0.00001224, with a market cap of $5.15 billion. Its trading volume increased by over 27%, amounting to $964 million.
PEPE's Future: Predictions and Technical Analysis
Technical analysis indicates that the MACD line is above the signal line, suggesting a strong bullish momentum. The Chaikin Money Flow indicator stands at 0.28, indicating a strong inflow of capital. However, the RSI is approaching the overbought zone at 70.41, which may indicate an upcoming pullback or consolidation.
PEPE's rise amidst an overall bearish trend may indicate some interest in meme coins. However, current indicators suggest the market could face a correction in the near future.
