• After gaining 6%, PEPE held steady at $0.000007212.
  • The meme coin’s daily trading volume has jumped by over 36%.

The crypto market is attempting to bounce back from a series of declines, but mixed signals suggest uncertainty. Meanwhile, the meme coin sector holds a market cap of $51.6 billion, with PEPE, the frog-themed token, gaining over 6.07%.

In the early hours, the meme coin has formed a daily low of $0.000006753 and bulls took it to the peak of $0.000007582. At the time of writing, PEPE was trading at $0.000007212 with its market cap staying at $3.03 billion. 

In addition, the market has witnessed a $1.96 million PEPE liquidation during this timeframe. Consequently, the meme coin’s daily trading volume has reached $809 million. 

The meme coin has gained over 22.42% in the last seven days. The week began trading within the $0.000005681 range , and it climbed up to trade in the current price level. 

Can PEPE Extend Its Bullish Run?

PEPE’s technical chart reports the positive sentiment with the Moving Average Convergence Divergence (MACD) line above the signal line. This crossover indicates bullish momentum and the price may climb further. 

PEPE Eyes $0.0000075: Will a Golden Cross Ignite the Rally? image 0 PEPE chart (Source: TradingView )

The Chaikin Money Flow (CMF) indicator settled at 0.04 suggests the inflow of capital, and if the value increases further, it signals growing accumulation. Meanwhile, PEPE’s daily trading volume is up by over 36.84%. 

The meme coin’s potential upside correction occurs and that initially brings in a retest of the $0.000007316 level. Subsequent crucial resistance zones can be at $0.0000075 in case of the emergence of the golden cross.  

Assuming the bearish wave took over PEPE with the potential to push the price down toward $0.000007103. The meme coin could test the succeeding support at $0.0000068. Further losses might drive its price even lower.

Moreover, the market sentiment of PEPE is moderately bullish as the daily relative strength index (RSI) rests at 57.06. The meme coin’s Bull Bear Power (BBP) value of 0.00000025 infers the bulls have a slight edge in the market.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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