With the 3.31% spike, the crypto market cap has reached $3.42 trillion. Major assets have entered the green zone, and the greed sentiment lingers within the market. Notably, the meme coin market cap has jumped by over 6% to $66.8 billion. The frog-themed PEPE has recorded a gain of over

• PEPE is hovering around $0.000012 after gaining over 8%.
• Daily trading volume has surged by more than 82%.

With the 3.31% spike, the crypto market cap has reached $3.42 trillion. Major assets have entered the green zone, and the greed sentiment lingers within the market. Notably, the meme coin market cap has jumped by over 6% to $66.8 billion. The frog-themed PEPE has recorded a gain of over 8.39%.

PEPE bulls have cleared the critical hurdles at $0.00001198 and $0.00001285. The meme coin traded at a low of around $0.00001174 in the early hours. Later, the powerful bulls took control of the asset and triggered the price to a high range of $0.00001291. PEPE is currently trading at the $0.00001264 level, with its market cap at $5.44 billion. 

Moreover, the meme coin’s daily trading volume has risen by over 82.67%, reaching $1.29 billion. According to Coinglass data, the market has observed a $5.68 million PEPE liquidation within this timeframe.

PEPE on the Rise, Will the Momentum Hold?

The meme coin’s Moving Average Convergence Divergence line is stationed above the signal line. It likely points out a bullish momentum, and the price may strengthen its upward trajectory. Besides, the Chaikin Money Flow (CMF) indicator of PEPE is found at 0.11, which implies moderate buying pressure in the market, and the money is flowing into the asset, with rising price action. 

The four-hour price graph of the PEPE/USDT pair has exhibited a positive trading pattern. The formation of the green candles might push the meme coin price to climb and test the resistance at $0.00001297. Further upside correction could trigger the price to hit its recent highs at around $0.00001335. 

Assuming PEPE’s price chart enters the red zone and retraces to the recent lows, the price could fall toward the $0.00001250 range. Breaking down below this range might likely find its crucial support at the $0.00001222. More correction on the downside eyes for a lower target. 

Furthermore, the Relative Strength Index (RSI) value settled at 69.27 indicates that the asset is approaching the overbought territory. Once hit, it could be subjected to a pullback or correction. PEPE’s Bull Bear Power(BBP) reading at 0.00000137 suggests that bulls are slightly dominating over bears.

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