The post Pepe Coin Price Pumps as Crypto Prices Turn Green & Traders Back This New Meme Coin to Surge Next appeared on BitcoinEthereumNews.com.

Pepe Coin (PEPE) has experienced a significant price surge, driven by a broadly bullish sentiment in the cryptocurrency market. With traders now shifting their view on PEPE, many believe the token could be poised to continue its upward trajectory in the remaining days of October and beyond. Meanwhile, another meme coin, Meme Kombat (MK), is capturing investor interest through its limited-time presale event. Pepe Coin’s Price Surges Amid Growing Investor Interest PEPE’s price is up almost 6% since yesterday, with the token now trading around the $0.000000656 level. Price has broken above the 50-day Exponential Moving Average (EMA) on the 4-hour chart, indicating that the short-term trend may have flipped. A key catalyst for this sharp rise is PEPE’s rejection of the support zone at $0.00000062, which was also tested last week. Since tapping the zone on Thursday morning, PEPE has surged, demonstrating strong upward momentum that is attracting further buying interest. According to CoinMarketCap, PEPE trading volumes are up 31% in the past 24 hours, hitting $48.4 million. Additionally, data from Etherscan.io reveals that the number of wallet addresses holding PEPE has increased slightly in recent days. These metrics suggest that retail and possibly institutional interest in PEPE is growing – setting the stage for further upward price movement. Dovish Fed Fuels Positive Crypto Market Sentiment The recent upturn in PEPE’s price seems to resonate with a broader shift in the crypto market sentiment. Jerome Powell, chair of the Federal Reserve, spoke at the Economic Club of New York and took a surprisingly dovish stance. This dovish outlook contrasts with earlier expectations of a prolonged period of high-interest rates aimed at fighting inflation, creating a favorable environment for “riskier” assets like cryptocurrencies. According to the CME FedWatch tool, there’s now a 98% chance that the Fed will keep rates…

---

Filed under: News - @ October 21, 2023 2:14 am