Pepe (PEPE) has experienced a surge, capturing market attention as its price climbed 4.19% within 24 hours. The market capitalization reached $3.02 billion, reflecting a 4.25% increase. Despite the rising price, trading volume declined by 8.20%, totaling $872.91 million.
Technical indicators signal potential price momentum
TradingView data shows that the Moving Average Convergence Divergence (MACD) indicator is currently in bearish territory. In the MACD indicator, the MACD line is at 0.00000002, and the signal line is at -0.00000111.
This is in line with selling pressure, further supported by the fact that the MACD histogram is also negative. However, the sign in the MACD that has continued to decline is the distance between the MACD and signal lines, which suggests a change of trend if the buying pressure rises.
RSI currently stands at 35.87, indicating a movement toward the oversold level under 30. The RSI signal line has reached 36.16, which verifies the intensified selling momentum. Analysts expect an upward price trend when the RSI exceeds 40.
A successful break above 45-50 would better demonstrate market strength which would strengthen demand for purchases. PEPE experienced a short-term rise in its price that took it to 0.00000718 Fib level. The initial resistance stands at the 0.00001000 level as support exists at approximately the 0.0000050 range.
PEPE market cap and supply dynamics
According to CoinMarketCap data, PEPE recorded a 4.19% price increase in the last 24 hours, reaching $0.057193. The market capitalization increased to $3.02 billion which represented a 4.25% growth.
During this period, the trading volume decreased by 8.20% to reach $872.91 million. PEPE has a fully diluted market worth of $3.02 billion, which results in a volume-to-market cap ratio of 28.74%. The circulating supply of PEPE stands at 420.68 trillion, matching the reported total supply.
The maximum supply reads above 420.69 trillion as the wallet holder data shows that the token has 409,980 active addresses. An upward price trend may become confirmed by a bullish crossover in MACD, along with an RSI breakout that rises above significant levels.
