Pepe’s Price Increase and Market Rebound
After a calm period of trading, the crypto market is making a comeback, with Pepe (PEPE) attracting investors with a 7% rise. The resurgence follows a quiet weekend in the crypto world, highlighting the current volatility of the market.
Technical Factors & Trading Volume Driving PEPE’s Surge
Pepe’s price increase is driven by technical factors and rising trading volume, which reflects growing investor confidence. The token has successfully used the 200-day exponential moving average (EMA) as support to climb higher, with trading volume reaching $99 million in the last day, up by 101% from the previous day.
Another view of the daily chart shows that PEPE is stuck in a trading range between $0.00000108 and $0.00000135, which suggests increased interest but also possible resistance at the upper level.
Market Recovery and Altcoin Gains
Similar to PEPE’s performance, the broader crypto market has rebounded, indicating renewed investor optimism, especially in the altcoin space. The Crypto Total Market Cap (Excluding BTC) has gone up by $155 billion in the last month, with significant gains from tokens like Solana (SOL) and Avalanche (AVAX), as well as meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
Upcoming Meme Kombat Token Raises $1.9M
Even new projects are benefiting from the positive market sentiment, like Meme Kombat (MK), which combines meme culture with combat gaming. The project, which raised over $1.9 million during its presale, aims to capitalize on the popularity of memes while offering ways for MK holders to earn additional income.
Hot Take
With Pepe’s resurgence and Meme Kombat’s successful presale, the crypto market is showing signs of renewed investor enthusiasm, with altcoins and meme coins gaining traction. This could mark a shift in sentiment towards riskier assets, as evidenced by the increased trading volume in the market.
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