Famous meme-inspired cryptocurrency Pepe rose more than 4% in the last 24 hours to trade nearly 10% last week.
Advancement came amidst the updated interest in meme tokens, along with CoinDesk Memecoin Index (CDMEME) increases by more than 11% last week, exceeding 1.4% of bitcoin transfer. Within 24 hours, the memecoin sector reached 2.5%, compared to 0.2%of BTC.
Pepe rallied from $ 0.00001013 to $ 0.00001074, setting up a new short-term resistance near $ 0.00001082, according to the technical review model of CoinDesk Research’s technical analysis. The trading activity provided significantly, with more than 5.89 trillion Pepe tokens that change hands at the rally peak, more than double the average of 24 hours.
Price action shows a stable pattern of higher lows, a signal that consumers continue to walk at the ever -increasing levels. This type of structure is often interpreted as a sign of the accumulation of more engaged investors.
During the most active phase of the transfer, the token also touched $ 0.00001081 before repairing slightly lower. The fast spike draws a new resistance line as a level of firm support has emerged around $ 0.00001017.
The boundaries of this price, tested several times, will help shape merchants’ expectations about where the coin may follow.
The rally is marked with strong liquidity and prolonged demand. The activity moved around the many retests of the $ 0.00001069 mark, a level held each time, strengthening its strength.
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