Pepe Price Up 69%, Can $100 in PEPE Coin Turn You Into a Millionaire? No, But This Lesser Known Crypto Might
The PEPE price has risen by 69% today, with its surge to $0.00000151 representing a 78% gain in the last seven days, as the cryptocurrency market becomes more bullish in the face of BlackRock's application for a spot Bitcoin ETF.
Despite today's gain, PEPE remains down by 5% in the last 30 days and by 64% since reaching an all-time high of $0.00000431 on May 5, when it successfully rode a wave of interest in new meme tokens.
Now, however, it seems to be mostly making up for its previous losses, rather than enjoying a sustained rally to new heights.
But there are other, newer meme tokens in the market right now, with Wall Street Memes (WSM) enjoying a successful presale that would seem to indicate big rallies to come when it lists on exchanges in the next few months.
PEPE's indicators reveal that the strong is benefitting from some very strong momentum right now, with its 30-day moving average (yellow) rising steeply towards its 200-day average (blue).
A golden cross (where the 30-day overtakes the 200-day) would signal a potential breakout rally, although it's likely that such a rally is already under way, given how steeply PEPE's price has risen in the past 24 hours.
Indeed, the meme token's relative strength index (purple) has jumped above 70, indicating strong buying momentum that may continue for several days yet before it begins to subside.
PEPE's gains today come after the coin had stabilized around a support level in the $0.000000850 region, with the coin unlikely to fall back towards (or below) this level anytime soon.
Being a meme token, there's no fundamental reason for PEPE's joys today, other than the simple fact that the market as a whole has staged a recovery, lifting up lower-cap altcoins with it.
That said,
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