Pepe Coin Price Soars As VanEck Shares Cryptic Frog Meme Post

Pepe Coin Surges Amid VanEck's Cryptic Social Media Post

Introduction
Pepe Coin (PEPE), a popular meme cryptocurrency, recently experienced a surge in price. This rally follows a rebound from a test at its bottom support level and coincides with an enigmatic post from investment firm VanEck.

VanEck Teases Pepe Coin Discussions
On social media platform X (formerly Twitter), VanEck shared a frog meme with animals gathered around a table, with the frog standing on the table and grabbing attention. The post's caption stated, "Important topics were discussed at the board meeting," sparking speculation within the cryptocurrency community.

Post's Impact on PEPE
Following VanEck's post, PEPE experienced volatility. Initially, there was a slight price dip (1.5% over 24 hours), hitting a low of $0.00001213. However, the meme coin rebounded quickly, capitalizing on the hype and social media traction.

VanEck's Crypto Involvement
VanEck's recent crypto-related endeavors have also fueled excitement around Pepe Coin. The firm has applied for a Solana ETF and became the first ETF issuer in the U.S. to apply for another altcoin ETF. While a Pepe Coin ETF is unlikely in the near future, VanEck's post still stirred optimism in the community.

Pepe Coin Price Update
After the post, the PEPE price rose 3% from its low, reaching $0.00001245 at the time of writing. Its market cap increased to $5.25 billion, while trading volume declined by 11.80% to $500.55 million in the past 24 hours.

Short Liquidations Boost Price
Short liquidations have contributed to the PEPE price rebound, with $1 million liquidated in the last 24 hours. This buying pressure could potentially push the price higher, although long liquidations ($715,610) may limit its impact.

Technical Analysis
Technical indicators for PEPE present a mixed but generally positive outlook. The RSI indicates a balance between buying and selling pressures, while the MACD suggests growing bullish momentum. On the 4-hour chart, PEPE has broken out from a bullish flag pattern but faces resistance from the ascending channel.

Investor Sentiment
According to IntoTheBlock data, 84% of current PEPE holders are currently in profit, while 11% are at a loss. As prices rise, long holders may sell to realize profits, leading to potential volatility.