Frog-themed cryptocurrency Pepe PEPE/USD spearheaded Wednesday's memecoin rally, clocking double-digit gains.
Pepe price surged double digits on Wednesday morning, spearheading the memecoin rally.
What Happened: The Ethereum-based token clocked gains of over 15%, making it the best-performing meme coin in the last 24 hours. The coin’s trading volume also shot up 8% to $950 million, making it the second-most traded meme coin in the last 24 hours.
A few crucial technical indicators turned bullish for the coin following the rally. The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price indicator, flashed a “Buy” signal for PEPE, according to TradingView. The Momentum indicator also painted a bullish narrative.
The speculative interest also surged. The Open Interest in PEPE futures spiked 8.60% in the last 24 hours to $220 million, the highest it has been in over ten days, as per data from Coinglass.
The speculative interest in the memecoin futures market is heating up as traders await the next move by the memecoin.
This helped me catch the generational entry on $PEPE back in 2023. A second chance is brewing here for those who missed it last run. Yes, the $PEPE/$DOGE pair looks incredibly good. This is THE SIGNAL for memes… how they pair against the $BTC of meme coins (
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