PEPE Gains 10% as Golden Cross Sparks Optimism for Additional Memecoin Rally

PEPE Gains 10% as Golden Cross Sparks Optimism in Memecoin Space

PEPE, the well-known frog-inspired memecoin, surged 10% over the past day, reaching $0.00001049 amid technical signals that hint at further potential gains in the memecoin sector.

The cryptocurrency climbed from $0.00000949 to $0.00001049, briefly hitting a high of $0.00001077 earlier before easing slightly.

A golden cross pattern has emerged in PEPE’s charts—a bullish signal where the shorter-term moving average overtakes the longer-term one—often seen as a sign of continued upward momentum. Traders typically view this as an indicator that recent buying could evolve into a more sustained rally.

The price spike was fueled by heavy trading activity, with 13.7 trillion PEPE tokens traded during the hour of the rally’s peak, followed by 7.7 trillion in the next hour, highlighting significant investor interest.

PEPE’s rally comes amid growing optimism in the memecoin sector, reflected in an 11.4% rise in the CoinDesk Memecoin Index (CDMEME) over the last 24 hours.

Although the token has pulled back slightly from its intraday highs, CoinDesk Research’s technical analysis points to solid support near $0.0000101. Fibonacci projections indicate that if momentum persists, PEPE could aim for $0.0000110 as its next target.

Overall, PEPE has outperformed the broader crypto market, with the CoinDesk 20 (CD20) index climbing 5.92% during the same time frame.