- The Pepe price gave a major breakout from seven months resistance trendline to bolster a fresh recovery towards $0.000005.
- Escalating Middle East tensions contributed to a broader risk-on sentiment across crypto markets.
- A potential bullish crossover between the 20- and 50-day exponential moving averages could reinforce the recovery momentum in PEPE.
Pepe coin, the frog-themed meme cryptocurrency jumped over 8% during Thursday’s U.S. market hours to hit $0.000004 high. This upswing follows the broader recovery in the meme coin market as capital rotates to higher-risk assets, supported by stable market sentiment. However, a stagnant trend in PEPE’s open interest indicator suggests a lack of speculative force in the market. Can PEPE price manage to reclaim the $0.000005 barrier?
Meme Coin Market Climbs 12% Amid Risk-On Sentiment Shift
In the last 24-hours, the meme coin sector witnessed a significant surge of over 12% to reach a market cap of $39.8 billion, according to Coingecko data. The buying pressure followed a sudden capital rotation to these volatile assets, as the ...
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