PEPE Climbs 10% as Golden Cross Ignites Hopes for More Memecoin Gains
PEPE, the popular frog-themed memecoin, has jumped 10% in the past 24 hours, trading at $0.00001049 as technical signals boost confidence in further price increases across the memecoin market.
The token’s value rose from $0.00000949 to $0.00001049, briefly reaching as high as $0.00001077 earlier before easing back.
A golden cross has formed on PEPE’s chart—a bullish indicator where a short-term moving average crosses above a longer-term one—hinting at the possibility of a sustained upward move. Traders often interpret this as a sign that positive momentum may persist.
Trading volumes soared alongside the rally, with 13.7 trillion PEPE tokens changing hands during the most active hour, followed by 7.7 trillion in the next hour, reflecting strong market interest.
PEPE’s rally is in step with broader enthusiasm across the memecoin space, as shown by an 11.4% increase in the CoinDesk Memecoin Index (CDMEME) over the past day.
Although PEPE pulled back slightly from its intraday highs, technical analysis from CoinDesk Research indicates solid support around $0.0000101. If the upward trend continues, Fibonacci levels suggest the next target could be $0.0000110.
So far, PEPE’s performance has outshone the wider crypto market, with the CoinDesk 20 (CD20) index gaining 5.92% over the same period.
