The Ethereum-based memecoin $PEPE has seen an impressive surge in recent days, reflecting renewed investor appetite for risk within the broader cryptocurrency market. Over the past 24 hours, PEPE's price climbed by 9.09%, reaching $0.00001323, placing it firmly back on the radar of retail and institutional investors alike.

Market Metrics Show Rising Momentum

According to data from CoinMarketCap, daily trading volume for PEPE has jumped 29.63%, hitting $1.82 billion. This increase in volume suggests robust market activity and reinforces the idea that the current rally is supported by sustained buying interest—not merely speculative noise.

Simultaneously, PEPE’s market capitalization has grown to $5.56 billion, cementing its position among the top-tier memecoins. The volume-to-market cap ratio now stands at 32.39%, a strong indicator of liquidity and meaningful price movement. Such a high ratio typically reflects active trading and investor conviction.

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Technical Indicators: Bullish Signals Emerge

MACD: Bullish Crossover Confirms Uptrend

Data from TradingView reveals that the MACD line has crossed above the signal line, moving to 0.000000337 compared to the signal line's 0.000000259. This bullish crossover is often interpreted as a sign of strengthening upward momentum. Additionally, a widening MACD histogram supports the case for a continued short-term uptrend.

RSI: Bullish Momentum Continues

The Relative Strength Index (RSI) stands at 67.88, edging closer to the overbought threshold of 70. This reading signals strong buyer dominance, while a secondary RSI value of 56.87 suggests that the market has successfully transitioned out of a weaker buying phase.

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Price Action: Key Resistance and Support Levels

Resistance: PEPE is approaching a critical resistance zone between $0.000015000 and $0.000016485, levels that previously acted as a ceiling during its April rally.

Support: In the event of a correction, $0.000010000 serves as the first major support level, followed by $0.000008442 as the secondary support.

Additionally, the price structure shows a series of higher lows, a classic bullish formation indicating consolidation within the broader uptrend.

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Outlook: Rally May Be in Early Stages

PEPE's current price action appears to be underpinned by both technical momentum and strong fundamental indicators such as volume and market cap growth. The alignment of a MACD crossover, RSI nearing overbought territory, and significant liquidity suggests this may be more than just a temporary surge.

Should #PEPE successfully break through the $0.000015000 resistance level, further upside targets could come into play, potentially propelling it into uncharted territory.

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Conclusion

PEPE is exhibiting a well-supported rally, characterized by rising volume, strengthening technical signals, and bullish chart patterns. As the token approaches a key resistance zone, both short-term traders and long-term investors should monitor developments closely.

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