Sentiment in the crypto market has turned bullish, with meme coin Pepe Coin (PEPE) riding the wave for nearly a 6% pump in price. Yet as PEPE sees flickers of its former glory days return, a new meme coin presale MK looms as competition.
Keypoints
- The price of Pepe Coin (PEPE) has pumped nearly 6% in the last day to around $0.000000656.
- PEPE broke above its 50-day moving average, signaling a potential trend reversal after tapping support at $0.00000062.
- Trading volumes are up 31% in the last 24 hours, hitting $48.4 million as interest in the meme coin grows.
- The gains follow Fed Chair Jerome Powell’s dovish stance, creating a favorable environment for crypto with reduced expectations of aggressive rate hikes.
- This dovish outlook has boosted broader crypto sentiment, with Bitcoin volatility declining as well.
- Some see PEPE trying to reclaim its former meme coin glory amid this positive backdrop. Whales hold 49% of the…
