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PEPE Nears All-Time High Amid Market Surge and Optimistic Investors

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PEPE Nears All-Time High Amid Market Surge and Optimistic Investors

  • With its present rate of increase, it is just 19% short of reaching its all-time high.
  • Moving average data indicates that PEPE is likely in a solid buy zone.

With its relentless surge for days and its sights set on a new all-time high, PEPE is on a roller-coaster ride. Just under two months ago, the price of PEPE hit an all-time high of $0.00001074. And at its present rate of increase, it is just 19% short of reaching this threshold.

Source: CoinMarketCap

After dropping to a low of $0.000006051 a week ago, the token’s value has soared to its current $0.0000088859, an increase of 5.76% in the last 24 hours and 26.96% in the last 7 days as per data from CMC.  In addition, there has been $850.34M worth of transactions, and the market cap is $3.72B, an increase of 5.05%.

Bullish Momentum

As Bitcoin continues its meteoric rise above $64,000, the whole cryptocurrency market is following suit. After a recent spike this week, Bitcoin is now trading at $64,260. Due to it, the total value of all markets throughout the world has increased by 1.10%, reaching $2.37 trillion.

While the general uptrend of the market has contributed to the recent price spike for PEPE, there are a few additional variables that have also played a role. It will also aid PEPE in reaching its new ATH in the long run.

According to the technical analysis, there has been a significant increase in the purchase of PEPE. Moving average data indicates that PEPE is likely in a solid buy zone. Additionally, the MACD level shows that the coin is in a buy zone.

The price of PEPE is constantly rising due to the market’s growing purchasing pressure. The fact that the token was green for 18 of the last 30 days is another evidence that PEPE investors are optimistic.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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