The Memecoins market is again in the spotlight after Pepe recorded a dramatic increase of 40% in the last 24 hours, surpassing Dogecoin, Shiba Inu and other important tokens.
The widest rebound in the Altcoins followed Bitcoin’s rupture beyond the level of USD 100,000 and Ethereum crossing the USD 2,200.
As a result, the memecoins now lead the profits in decentralized finances, and some tokens record two -digit increases in a matter of hours as the renewed trust of investors returns.
Pepe, one of the most volatile assets in the segment, has just broken a critical resistance of $ 0.000009 in the middle of a growing accumulation of whales and a 150% increase in negotiation volumes.
The technical indicators suggest that this break could lead to an important phase of price discovery and, potentially, to a new historical maximum for the token.
The demand and the volume of the whales drive the rupture of the fuel
Pepe’s volume of operations shot as larger investors, often called “whales”, began to accumulate substantial amounts of Token.
The rupture above USD 0.000009 was considered an important technical milestone, since it acted as an stubborn resistance in the past.
The price movement was accompanied by an increase of 150% in the volume, which points to a strong market interest.
According to reports, whale wallets bought millions of dollars in Pepe, which helped boost the impulse beyond key price levels.
At the time of writing this article, Pepe is traded at 0.00001334 dollars, having exceeded the range of 0.000011 dollars that previously marked the maximum of April of Token.
Fountain: Coinmarketcap
Technical data point to the next stage of the Alcista race
Pepe’s price chart shows a double background reversal formation, with the recently overcome neck line. The weekly technical indicators support a bullish continuation.
The relative force index (RSI) shows a break in overcompra territory, while the MACD has become bullish with a crossing above the signal line.
The Token is currently testing its 200 -day mobile average in the weekly time frame.
If you keep the support above this level, analysts suggest that a movement towards USD 0.00001712 is possible, followed by a race towards USD 0.00002118.
Beyond that, the graph suggests that Pepe could try the ceiling of the resistance channel around 0.00006 dollars, which would mark a new historical maximum and could attract new speculative capital.
The gains of the memecoins sector accelerate
The Memecoins market in general has experienced significant profits on the last day.
Book of Meme jumped 30%, while Fartcoin, Mog Coin, Floki and Apecoin registered increases between 18%and 20%.
Several others, including popular tokens in the top 100 for market capitalization, registered profits of 15% or more.
It is considered that the rebound is driven by the fortress of Bitcoin, which has historically served as a catalyst for speculative altcoins.
The Ethereum movement above the USD 2,200 has also restored confidence in the most risky cryptoactives, especially tokens with a strong support of the community such as Pepe and others that have experienced previous bullish cycles.
Unlike some of the smallest tokens, Pepe has managed to break the key resistance with a strong activity in the chain.
The upward divergence between the technical indicators implies a sustained purchase interest, especially as the memes sector enters what some traders call a “parabolic” phase with high volatility.
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