Pepe’s price has reached a milestone, surpassing the $0.000010 level for the first time since March 15th. According to data from Cointelegraph Markets Pro and TradingView, Pepe has experienced a 34% surge in the past 24 hours, reaching a new all-time high of $0.00001119 on the Binance platform.
The trading volume of Pepe has also seen a significant increase of 245% in the last day, reaching $1.56 billion. As a result, its market capitalization has now reached $4.31 billion, surpassing Ethereum Classic (ETC) and making Pepe the 23rd-largest cryptocurrency by market value.
This impressive performance by Pepe coincides with the return of Keith Gill’s social media account, known as “Roaring Kitty,” which had been inactive since June 2021. Gill gained notoriety during the 2021 meme stock frenzy when stocks like GameStop and AMC Entertainment saw massive surges of over 1,000% by the end of the year.
The recent rebound of Pepe’s price can be attributed to it bouncing off the ascending trendline that has been supporting it since mid-April. Furthermore, the rally has propelled Pepe above a critical resistance level that has been holding the price back since March.
The relative strength index (RSI) has been moving upwards, mirroring the price trajectory and indicating the dominance of buyers in the market. However, if the daily candlestick falls below the ascending trendline at $0.00000875, the price could drop towards the $0.0000070 and $0.000080 demand zone, which is supported by the 20-day and 50-day exponential moving averages.
The return of Roaring Kitty has also had a significant impact on other meme coins. The Solana-based GameStop memecoin surged by more than 550%, while the AMC token jumped by 1,200%. Larger-cap memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced gains of 5% and 7% respectively.
In addition to the memecoins, stocks related to Gill and other meme stocks also saw a rally. GameStop share prices climbed as high as 44% in pre-market trading and surged by 110% at market open before trading was halted. AMC Entertainment Holdings, a cinema chain, saw a 12% increase in pre-market and rose by as much as 25% after the Wall Street open.
It is important to note that this article does not provide investment advice or recommendations. Readers should conduct their own research and analysis before making any investment or trading decisions.