PEPE Coin Leaps 1.52% as Meme Token Shows Signs of Life

Frogs rejoice—PEPE defies gravity with a 1.52% bounce. Another day, another meme coin ’recovery’ that’ll have bagholders whispering ’this time it’s different.’

Bullish? Sure. Sustainable? Wall Street’s pet rock collection grows larger by the day.

• Above $0.000013982, PEPE Coin receives strong support, indicating that this level could help drive the token higher.

• The MACD and RSI  indicators are suggesting that the trend is not turning around but remains steady.

• The fact that trade volumes remain stable and spreads keep increasing is a sign of steady market participation and gentle optimism.

PEPE has made a promising gain, increasing by 1.52% recently. It followed a stretch of unchanged prices after a steep upward MOVE in the first half of May. 

Today’s candle shows Pepe has risen to $0.000015038 from yesterday’s $0.000014942 which could be a sign that more investors are involved and might lead to more bullish momentum.

Today’s Chart Points to Renewed Upward Movement in PEPE

Using the daily chart from TradingView, the price now appears to remain close to the $0.000013982 level, which once resisted it. This area of support is once again being evaluated as a possible starting point for growth. 

Source: TradingView

Many candlesticks from the past few days point to reduced selling while today’s green candle tells us that traders are feeling positive.

PEPE’s Momentum Indicators Shows Presence of a Likely Market Rally

According to the charts, PEPE’s RSI figure dropped somewhat to a reading of 43.09. After going over 70, the RSI has now moved out of the overbought zone it hit in May. Now that it is approaching a neutral territory, another increase in price is possible without going over-extended. 

Furthermore, the MACD shows more proof that the market will keep going up. Despite MACD (in blue) starting to fall a bit after its sharp rise, the signal line (in orange) is still below which many traders see positively.

This histogram bars are narrowing, implying that the bullish track is losing intensity, but not yet returning to bears. If the MACD doesn’t go below zero and cross upwards, this may confirm that prices are still going up.

There is a Cautious Optimism About PEPE’s Market Lately

Investor sentiment is a little more optimistic now, as the difference between buy and sell prices has increased. There is plenty of trading going on, as revealed in the current bid price of $0.000013982 and ask price, which is just above it. 

With the RSI neutral and MACD positive, the chances of an upside for PEPE seem high. 

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