Pepe (PEPE) is making a comeback.

The coin is up 4% in the past day after a rough patch, and traders are now wondering if it can keep rising in the final weeks of the year.

Meanwhile, some are shifting their attention to Pepe Unchained (PEPU) – a new meme coin that has raised over $56 million before its exchange launch.

PEPE Price Rebounds 12% Amid Broader Crypto Market Bullishness

PEPE is trading at $0.0000194 after finding solid support around $0.0000173 on Tuesday morning.

The coin’s rebound has been strong – up 12% from its Tuesday low – though some profit-taking has cooled earlier gains that peaked at 17%.

Things are looking better on the charts, too.

PEPE is now testing the 50-period EMA on the 4-hour time frame, which could act as support.

Trading has also picked up noticeably, with spot volumes jumping 36% to over $3 billion in the past day.

Even open interest is rising – now at $105.6 million, up 11% since yesterday.

That suggests traders are opening up fresh positions rather than just closing out old ones.

There’s no apparent reason for PEPE’s rebound, but it seems to be capitalizing on the bullishness in the broader market.

Bitcoin’s climb above $95,000 and the buzz around a potential run to $100,000 have lifted sentiment – meme coins included.

PEPE Charts Signal Potential for Further Upside

PEPE’s price chart hints that there might be more upside on the horizon.

A large bull flag has appeared on the daily chart, which is usually a sign that the price could move even higher.

On top of that, PEPE has bounced off the 0.618 Fibonacci retracement level.

If this level holds, there’s a chance for a push toward $0.000029, which aligns with the 1.272 Fibonacci extension.

Market sentiment is turning as well.

Well-known crypto trader Keller Call pointed out that PEPE has completed a break-and-retest pattern, suggesting the s