The currency $PEPE —a popular meme coin inspired by the shape of a frog—rose by 10% over 24 hours to $0.00001049, driven by technical signals that may indicate further increases amid a broader rise in the meme coin market.
The currency rose from $0.00000949 to $0.00001049, reaching a peak of $0.00001077 at the start of trading before pulling back slightly.
A major technical pattern has formed, known as the golden cross, where the short-term moving average rises above the long-term average, on the chart for $PEPE .
, indicating sustained upward momentum.
The golden cross is widely watched among traders as it indicates that recent buying pressure may transition into a long-term rise.
Trading volume increased significantly during the rally, reaching 13.7 trillion tokens in one hour as the price began to rise, and 7.7 trillion tokens later, confirming the intensity of this rally.
Meanwhile, the broader meme coin sector, according to the CoinDesk Meme Coin Index (CDMEME), increased by 11.4% over the past 24 hours.
Despite pulling back from its highs, $PEPE has formed a strong support level near $0.0000101, according to technical analysis data from CoinDesk Research. Fibonacci extension levels suggest that the price could head toward $0.0000110 if this rise continues.
The digital currency outperformed the broader cryptocurrency market over the past 24 hours, according to the CoinDesk 20 Index (CD20), which rose by 5.92% during the same period. #NFPWatch #BTCReclaims110K #REX-OSPREYSolanaETF #DYMBinanceHODL #OneBigBeautifulBill