PEPE has surged by 9% to reach $0.0000873, sparking questions about its potential for further gains. With technical indicators like MACD and RSI showing positive momentum, investors are curious if this uptick will continue.
Technical indicators analysis: MACD and RSI
PEPE’s price movement, along with key technical indicators, indicates that the price recently increased by 8.85%, reaching $0.0000873. The MACD, which tracks price momentum, shows a bullish trend. The histogram is positive, indicating that the short-term moving average is above the long-term one.
The RSI stands at 47.25, which is neutral, not signaling overbought or oversold conditions. This reading shows that the market is not yet in extreme conditions. However, any movement toward 70 could indicate overbought conditions, and a drop below 30 could signal oversold conditions.
The MACD and RSI indicators both indicate that the market is seeing increasing interest in PEPE as the price steadily climbs. Investors should monitor the RSI for any shifts towards the 50 level, which could signal further upward movement. Similarly, the positive MACD histogram suggests that the price momentum is favorable.
As of the latest data, the PEPE price continues to move upward. With the MACD supporting an upward trend and the RSI remaining neutral, there is potential for continued gains, but further movements in the coming days will provide more insight.
Pepe’s open interest and current market action
According to Coinglass data, The PEPE futures market shows movements in open interest, peaking at $306.35 million. The price of PEPE also increased during this period, correlating with the rise in open interest.
At the time of press, PEPE’s open interest are both exhibiting a notable uptick, suggesting a potentially active market. Investors may anticipate further increases based on current trends, but further developments will provide more clarity.
Tracking the Pepe price action, CoinMarketCap data indicates that PEPE’s price reached $0.058780, marking a 9.75% increase within 24 hours. The market capitalization stands at $3.69 billion, while the 24-hour trading volume surged by 72.71%, totaling $958.67 million.
Available supply of the token is equal to its total supply as it is 420.68T tokens. With increase in marketing activity PEPE has grown recently which has been also reflected in the increase of its price. Since the current data available, it is evident that the price of PEPE has a constant ascent.
