Meme Coin Rally Sees PEPE Price Jump 180% in 7 Days as Another Coin Prepares for Massive Airdrop
Top meme coin performer of 2023, Pepe, has seen a huge 180% rally this week, spurring even further interest in meme coins across the board.
This article will provide an analysis of PEPE’s current price trends and look to see whether a newer meme coin, SMOG, represents a more promising investment opportunity at this time.
Bullish price pumps for Pepe come as Bitcoin hammers back-up above $60k for the first-time in two years, in a major development that has catalyzed a PEPE-led +24.55% revival in the meme coin market cap.
This high timeframe breakout is a gift to anyone who did not bottom fish $PEPE
Price is out of balance away from the longest term volume levels.
Setups like this tend to run hard. Stay on the weekly and monthly chart. pic.twitter.com/O9xMKLPy6z
— HORSE (@TheFlowHorse) February 27, 2024
Crypto market sentiment has shifted into a bullish mood, with prominent traders highlighting the long-time frame recovery as the start of a potential skyrocket rally.
As price action falls away in a small localized retracement move, PEPE is currently trading at a market price of $0.00000296 (representing a 24-hour change of -7.2%).
The downside move come after PEPE hammered 5 days of consecutive green candles, in an upside climb that ultimately saw PEPE price top out around $0.0000036 (an incredible +213% gain).
Moving average support from the 20 DMA (now sat at $0.00000148) set the stage for the huge pump, following more than a week of well-defended consolidation.
Reclamation of the 20 DMA on February 10 was critical in poising the price for the major move, ending more than 2 months of capstoned price action from 20 DMA resistance.
Some cause for concern emerges in the RSI indicator, which has over-heated to a severe degree amid
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