• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
PEPE
Sensei Inu Logo

PEPE Breaches Local Highs With 20% Leap In Surprise Comeback

Christian Encila by Christian Encila
3 months ago
in Cryptocurrency Market News
Reading Time: 3 mins read

PEPE has recently made a stunning comeback by surpassing its local highs with a remarkable 20% weekly surge. This unexpected turn of events have provided some relief to investors who thought the frog-themed coin will never be able to get back on its feet again. 

What has propelled this sudden comeback, and what does it signify for the future of this meme coin?

Related Reading: Litecoin $100 Milestone Indicates Promising Bullish Trends – Here’s Why

PEPE Maintains Bullish Pace As Open Interest Rises

PEPE, currently priced at $0.00000185 according to CoinGecko, has recently experienced a remarkable surge in its value. Over the course of 24 hours, the asset witnessed a notable rally of 16%, and within the span of just seven days, it soared by an impressive 20%.

Source: Coingecko

Upon analyzing the OI (Open Interest) chart from Coinglass, it becomes evident that the surge in PEPE prices was accompanied by a simultaneous increase in Open Interest. This indicates that speculators in the Futures market were not only convinced of a bullish move but were also willing to bid on the asset, expressing their confidence in its potential.

The Open Interest chart indicated that speculator sentiment continued to be robust. Source: Coinglass

Furthermore, a PEPE price report revealed that the Relative Strength Index (RSI) displayed bullish momentum. Prior to the rally, PEPE came close to testing the 50% retracement level at $0.00000135.

This observation suggests that the asset is likely to approach and potentially surpass the 23.6% and 61.8% extension levels at $0.000002 and $0.00000233, respectively. 

Such indications further fuel the optimism surrounding PEPE’s recent surge and raise questions about the asset’s future growth potential.

BTC’s Role Remains Key

The recent surge in PEPE, accompanied by positive indicators and price action, has bolstered expectations of continued gains for the asset. However, it is important to consider the potential impact of Bitcoin’s price movement, as a rejection from the $30.8k-zone could potentially shift market sentiment toward the sellers.

The influence of Bitcoin, as the leading cryptocurrency, cannot be overlooked. Bitcoin often sets the tone for the overall cryptocurrency market sentiment.

Bitcoin breaches the $31K territory. Chart: TradingView.com

Should Bitcoin face a rejection near the $30.8k-zone, it could create a cautious atmosphere and shift sentiment toward sellers in the market. This scenario would likely impact PEPE and other altcoins, potentially hindering their upward momentum.

Related Reading: Solana Firedancer: 15% Rally Fueled By Ongoing Network Improvements

As traders and investors continue to monitor PEPE’s performance, keeping a close eye on the Bitcoin price movements becomes crucial. The interplay between these two assets could play a significant role in shaping the market sentiment and determining the future trajectory of PEPE’s price.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Answers in Genesis

Tags: btcusdethusdmeme coinsPEPE pricePrice action
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

Ethereum

Is The Ethereum Winter Over? L2 Exploding, ETH Futures ETF Launches

2 hours ago
Web3’s Unsung Hero: A Deep Dive into Agoric’s Vision for a Decentralized Future

Web3’s Unsung Hero: A Deep Dive into Agoric’s Vision for a Decentralized Future

5 hours ago
Crypto whale center

Report Reveals Crypto Whale Center With Majority Of Transactions Crossing $1 Million

7 hours ago
Collectibles.com Selects Kreus SuperApp As Its Preferred Wallet Partner

Collectibles.com Selects Kreus SuperApp As Its Preferred Wallet Partner

10 hours ago
Bitcoin Price Chop At Resistance, Investors Diversify Portfolio With New Bitcoin Alternative Offering High Staking APY

Bitcoin Price Chop At Resistance, Investors Diversify Portfolio With New Bitcoin Alternative Offering High Staking APY

10 hours ago
Dogecoin

Dogecoin Price Revival: How Increasing Demand At $0.060 Matters

11 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Comprehensive Analysis of the Interactive Brokers Platform

    6 hours ago
  • The Rise of Bitcoin Spark: How It Challenges the Dominance...

    12 hours ago
  • Microsoft AI Picks Tradecurve Markets (TCRV), Terra Classic...

    13 hours ago
  • Bulls Are All In For Everlodge (ELDG), Why Are Litecoin...

    13 hours ago
  • Discover Tradecurve Markets (TCRV): The Solution to Stellar...

    13 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.