The Pepe coin price surged on Friday, driven by the ongoing Bitcoin rally and the total crypto market cap exceeding $128 billion. As the third-largest meme coin, Pepe rose to $0.000020, its highest level in 10 days, amidst a high-volume environment.

Market Performance and Trends

Pepe’s 24-hour trading volume reached $1.32 billion, the highest point in a week. Futures open interest also hit a record high of $560 million. Other top meme coins, including Dogecoin, Dogwifhat, and Fartcoin, have jumped significantly, with gains of 26%, over 20%, and 70%, respectively.

The primary driver of this rally appears to be recent economic tailwinds in the United States, fueled by positive inflation data. The Bureau of Labor Statistics reported a drop in the core Consumer Price Index to 3.2%, spurring a strong recovery in crypto and stock prices as bond yields fell.

Crypto Market Drivers and Influencers

Optimistic reports about the incoming Donald Trump administration have also contributed to the rally. Trump announced that he is considering prioritizing American crypto projects when creating a strategic reserve. This move is expected to benefit Bitcoin and other cryptocurrencies, including Pepe coin.

Bitcoin has already surged to $104,000 ahead of Trump’s inauguration. If this momentum continues, Bitcoin could climb to its all-time high of $108,000, followed by the psychological level of $110,000. A rally of this magnitude would likely lift meme coins like Pepe even higher.

Pepe Coin Price Analysis

The daily chart shows that Pepe coin price has rebounded strongly this week, following the formation of a hammer candlestick pattern on Monday, a commonly recognized reversal signal in crypto markets.

Key indicators to watch include:

  • Pepe has remained above the 100-day moving average.
  • A falling wedge chart pattern has formed, a popular bullish reversal indicator characterized by two falling and converging trendlines.

As a result, Pepe is likely to experience a bullish breakout, potentially reaching a high of $0.00002837, its all-time high.

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