Pepe Surges 4%, Extends 2023 Gains to 984%

The Pepe token price has surged 4% in the past 24 hours, reaching $0.00001341 as of 11:19 p.m. EST. Trading volume also jumped 41% to $8 billion.

Year-to-date, Pepe has witnessed a remarkable 984% increase in value.

Sustained Uptrend for Pepe

Technical analysis shows a sustained uptrend for Pepe, supported by the 4-hour timeframe chart. The price has risen above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the current bull run. Additionally, the 50-day SMA has crossed over the 200-day SMA, forming a golden cross around $0.000010.

While Pepe remains within the rising channel, the correction to the lower boundary has allowed the Relative Strength Index (RSI) to drop from overbought territory (70) to 57.

Bullish Targets and Potential Retreat

If the upward momentum continues, Pepe bulls may target the all-time high (ATH) of $0.00001717.

However, should the bears gain strength and push the RSI lower, Pepe may face selling pressure and potentially retreat to the $0.00001002 support level, coinciding with the 200-day SMA.

Pepe Unchained Gains Attention

As Pepe bulls anticipate further gains, investors are also exploring Pepe Unchained (PEPU), an alternative token that aims to address scalability and efficiency issues faced by meme coins on Layer 1 blockchains. PEPU has generated over $27.9 million in its presale and attracted whale interest.

Investors can purchase $PEPU tokens for $0.01269 each using ETH, USDT, or a bank card. A price increase is expected in the near future.

Disclaimer:

This article is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.