In an sudden plot twist witnessed immediately, March 13, Elon Musk’s Pepe meme-related submit on X seems to have garnered noteworthy consideration amongst crypto market lovers throughout the globe because the meme coin PEPE famous a exceptional surge following Musk’s submit’s surfacing. Pepe coin, a cryptocurrency enterprise the place memes meet blockchain, curated waves all through the huge sea of crypto with Musk’s remarks following a possible meme coin season finish, as SHIB, DOGE, and FLOKI, amongst many others, famous vital plunges lately.
Musk’s Post Ignites Speculations Of PEPE Optimism
The submit shared by Musk immediately showcased a tint of the world’s most famous entrepreneur’s sense of curiosity within the Pepe meme. With quite a few replies by famend people on the platform additional bolstering this sense of curiosity, Pepe coin continued portray a bullish local weather for itself throughout the broader crypto market.
— Elon Musk (@elonmusk) March 13, 2024
Meanwhile, with possibilities of a meme coin season finish prevailing, DOGE, SHIB, and FLOKI famous substantial drops in current days. Conversely, this rally promptly garnered bullish sentiments amongst traders as market dynamics hinted at a major uptrend for the meme token.
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Pepe Coin Rallies
As of writing, Pepe coin’s price famous a considerable uptick of 12.82% over the previous 24 hours and is at present buying and selling at $0.000009314. With a major 28.53% surge within the token’s 24-hour buying and selling quantity, coupled with a 13.40% bounce in market cap, Pepe coin showcased sentiments of bulls taking management available in the market.
Notably, Coinglass’ data revealed a 15.33% surge within the meme coin’s open curiosity, reaching $125.44 million, whereas quantity jumped 48.49%, reaching $1.38 billion. This hinted at an uptrend for PEPE throughout the market, aligning with the value surge as traders rushed in, pushing new cash into the market and fueling market exercise.
Technical indicators unveiled by Trading View showcased a shopping for sentiment commanding the market. The RSI hovering round 72 hinted that the coin is likely to be able to welcome a consolidatory section as an overbought situation existed. However, with Musk’s submit adopted by the rally, a tidal wave of optimism for the meme coin persists.
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