• Market sentiments around PEPE improved as its weighted sentiment graph went up.
• However, its RSI and MFI took a sideways path, which looked bearish.

Pepe [PEPE] investors witnessed quite a few hard weeks as the meme’s price registered continuous declines. Pepe earlier exhibited an exponential increase in its price, which helped it briefly touch the $1 billion market cap before falling. 

Realistic or not, here’s PEPE’s market cap in BTC terms

Now, the scenario seems to have changed in PEPE’s favor, as its daily chart showed double digit growth. Will this latest price pump help PEPE re-enter the $1 billion market cap club? 

PEPE’s growth is remarkable 

According to CoinMarketCap, the memecoin’s price went up by more than 11% in the last 24 hours. At press time, it was trading at $0.000001128 with a market capitalization of over $441 million, making it the 85th largest crypto.

A positive thing about this surge was that it was backed by an over 46% increase in trading volume, which is typically bullish. 

PEPE is winning hearts again

Investors’ confidence in the memecoin also seems to have improved, thanks to the price pump. Santiment’s chart revealed that PEPE’s social volume remained considerably high. Its weighted sentiment also turned positive, reflecting investors’ bullishness on the coin.

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Author: Dipayan Mitra

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