Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?

PEPE has once again become the fourth-biggest meme coin. The frog-themed meme coin has defied the latest market correction, pumping double digits today (October 23) and reaching a monthly high. Some analysts believe the price could rise further in the short term, but key factors suggest the move hasn’t been healthy and might be followed by a pullback. The Bullish Perspective PEPE is one of the top-performing cryptocurrencies today and currently trades near $0.000005076. Its market capitalization has surged past $2.13 billion, making it the 50th-largest cryptocurrency and, once again, the fourth-biggest meme coin. Recall that yesterday (October 22), MemeCore (M) briefly took that position after posting a significant price increase. PEPE Price, Source: CoinGecko According to Token Talk, PEPE’s bulls have “one job right now”: push the token’s market cap above $2.21 billion. “The daily structure has improved massively from the summer lows, but resistance is resistance until proven otherwise,” the analyst added. X user Sjuul | AltCryptoGems also issued a bullish thesis, saying he still likes the PEPE chart, which is showing signs of “relative strength.” He believes buyers must now hold ...