The post Are PEPE Bulls Set to Further Extend Their Gains? appeared on BitcoinEthereumNews.com.

PEPE hit $0.00001051 after marking an increase of 15.47% in the last 24 hours. Arthur Hayes endorsed PEPE and bought 24.39B PEPE tokens. The crypto market has witnessed brief bullish turns, with the market cap recording a 1.65% spike. After a 15.47% gain, PEPE chose a bullish rally for the day, breaking the previous resistance levels. The meme coin opened the trading day at $0.000009121 and eventually led to break the resistance and climbed to a high of $0.00001072. Besides, the asset’s daily trading volume has increased by over 41% to $1.29 billion. At the time of writing, the asset was trading at $0.00001051, according to CMC data. Notably, during the early hours, Arthur Hayes, the founder of BitMEX, revealed his new endorsement for meme coins. He mentioned three tokens in particular: Iggy Azalea’s MOTHER, cat-themed MOG, and PEPE.  According to the on-chain data, over the last five hours, Hayes deposited 1 million USDC to Binance and withdrew 24.39 billion PEPE, worth $252K to his wallet for the first time. Will PEPE Sustain at the Current Level? PEPE has shown notable price momentum over the last month by gaining over 31.80%. The upward trend persists till the last seven days, with a 25.75% increase. At the beginning of the week, the asset was trading at $0.000008321. In the following days, the token’s price fluctuated and climbed to a high of $0.000008743. If PEPE’s price could fall to $0.000009937, it will likely take the price to the downside and drop further to $0.000009303. On the other hand, if the token manages to climb and break above the current level, it might push the token toward the major resistance at $0.00001098. Notably, the current price momentum of PEPE reveals that it has entered the overbought zone in the market, as indicated by…

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Filed under: News - @ September 27, 2024 7:25 pm