Pepe (PEPE) Price Surges Over 8% as Major Metrics Turn Bullish

The Pepe (PEPE) price has defied all the odds amid the recent crypto market slump. The highly popular meme coin has witnessed a significant price jump today. As of press time, the PEPE coin is trading at $0.0000126. Its price has surged 8.02% in the last 24 hours, per data from CoinMarketCap.

Supporting this price surge is the rising trading volume. Pepe’s 24-hour trading volume has jumped 23.52% to a whopping $1.1 billion. It is a clear indication of the resurgence of investor interest in the meme coin. Moreover, it is likely that PEPE will sustain this price surge thanks to increasing trading activity.

Pepe price eyes strong momentum

The recent price rise is just the tip of the iceberg. Pepe’s major metrics have turned bullish today. According to TradingView data, the meme coin’s RSI is currently at 53. This value shows that PEPE token has exited the bearish zone, and sentiment has turned slightly bullish.

This data is a major indicator, as it is showing us that the Pepe price is neither in overbought territory nor oversold territory. Historical patterns suggest that the current RSI level is indicating a short term rally for the Pepe coin.

Another important thing to note is that PEPE is currently trading above its 200-day simple moving average and 200-day exponential moving average. It clearly shows that Pepe has managed to hold its higher price levels despite the recent crypto bloodbath.

Additionally, Pepe has managed to outperform other leading meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). It means that the coin has managed to overcome the bearish sentiment prevailing on the broader market. All in all, major metrics of Pepe are now giving strong bullish signals, and we may see a potential major rally from it.