PEPE has registered an additional 3.43% price increase over the past 24 hours. According to CoinMarketCap data, the memecoin’s daily trading volume has risen by 6.68%. The overall crypto market has also seen a 3.80% uptick in market cap within the last day, with bullish trends driving increased capital flow, as shown by inflows into U.S. spot Bitcoin and Ethereum ETFs. Additionally, previously inactive large holders, or “whales,” have re-entered the market.
In the memecoin sector, notable price movements have captured attention, particularly among leading tokens like DOGE and Shiba Inu, which have seen rallies echoed by the frog-themed PEPE memecoin. PEPE has continued its upward momentum over the last 24 hours.
Reviewing PEPE’s daily price chart, the memecoin has added a 3.43% price increase. During the Asian afternoon hours on November 7, PEPE was trading at a low of $0.00001034 before climbing towards $0.000011. Currently, it stands at $0.00001071 based on CMC data.
PEPE also experienced heightened volatility, which spiked before stabilizing at its current level. According to TradingView’s RVI data, PEPE’s volatility rose above 50, then settled at 48.37.
Is PEPE Set for a New All-Time High?
PEPE’s price movements show a horizontal channel, signaling a consolidation phase in buying and selling points. Its technical indicators, however, hint at a possible positive trend.
On the PEPE/USDT daily chart (source: TradingView), the bull power indicator reads 3.26, while the bear power indicator is at 1.31. The market sentiment remains neutral, with an RSI of 59.94, suggesting a generally optimistic outlook. These factors suggest PEPE could be primed for a continued breakout and bullish recovery.
If a bull run materializes, PEPE could approach or even surpass its current all-time high of $0.00001718. Meanwhile, other memecoins, including newer tokens like Neiro Ethereum, have also seen price rallies in recent days.
