PEPE Encounters Price Correction Post Recent 58% Rally

Pepe Price Rise Amid Market Slump

Pepe's price has experienced a modest 0.52% increase over the past 24 hours. Daily trading volume has also surged by 9.57%, according to CMC data.

Despite the overall market decline, altcoins and memecoins have outperformed the market. PEPE, a frog-themed memecoin, has exhibited notable gains. In the last week, the cryptocurrency's price has increased by 57.85%.

On November 19, PEPE traded at $0.00002008, reaching an intraday high of $0.00002118. It later dipped to its current level of $0.000020.

Potential for Further Price Rally

PEPE's price correction may suggest a reflection of Bitcoin's movements. However, technical indicators indicate potential for upward momentum.

The PEPE/USDT daily price chart shows a bull power indicator value of 0.15 and a bear power indicator value of -1.82. The RSI stands at 70.55, indicating slight overbought conditions. These factors suggest that PEPE's price may experience another rally in the coming days.

Other Memecoin Performances

Other memecoins have also demonstrated positive movements. DOGE and SHIB have shown upward momentum. BONK has recently hit a new all-time high (ATH) and surpassed dogwifhat in market capitalization, becoming the fourth largest altcoin.

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