Meme coins are rallying, with PEPE leading the charge to a new all-time high of $0.00001096.
This rally follows GameStop stock trader Keith Gill, famously known as “Roaring Kitty,” returning to his social media platform, X, after a three-year hiatus.
PEPE has skyrocketed, with its price surpassing the $0.000010 mark for the first time since March 15. At the time of reporting, PEPE is trading at $0.00001086, marking a 22% increase in the past 24 hours, according to data from CoinGecko.
The coin’s trading volume has also surged by 290.5% to $2.14 billion, with its market capitalization rising to $4.35 billion, making it the 28th largest cryptocurrency by market value.
According to data from TradingView, PEPE’s recent rally was supported by a rebound off the ascending trendline, which has been in place since mid-April. The price surge has pushed PEPE above a critical resistance level, ranging from $0.00000875 to $0.000010.
The Relative Strength Index (RSI) shows an upward trajectory alongside the price while the RSI is at 70, indicating significant buyer dominance.
However, a dip below the ascending trendline at $0.00000875 could lead to a retracement towards the demand zone around $0.0000070 and $0.000080, supported by the 20-day and 50-day exponential moving averages.
PEPE’s performance coincides with the return of Keith Gill, whose “Roaring Kitty” account on X had been dormant since June 2021. On May 13, his account resurfaced with a post featuring an image of a man leaning forward with a controller.
Users on X and Reddit interpreted it as Gill signaling a period of focus, colloquially termed as “locking in.” “Hey bro what we buying,” one user replied; “Just in time for the meme coin supercycle,” another added.
Gill was a central figure in the 2021 meme stock frenzy, which saw assets like GameStop and AMC Entertainment skyrocket by 1,000% by the year’s end.
The return of Roaring Kitty caused a meme coin rally, with Solana-based GameStop memecoin (GME) surging over 350% and AMC token witnessing an over 900% increase. Established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced modest gains, with them rallying by 7% and 7.5%, respectively, according to CoinGecko data.
Stocks associated with Gill and other meme-related companies also rallied, with GameStop’s pre-market trading experiencing a 44% climb, briefly surging by 110% post-market open before trading was paused. AMC Entertainment Holdings also experienced a 12% increase in pre-market trading and surged 25% after the Wall Street opening bell on Monday.
The post PEPE Hits All-Time High After Famous Gamestop Trader ‘Roaring Kitty’ Returns appeared first on CryptoPotato.
This rally follows GameStop stock trader Keith Gill, famously known as “Roaring Kitty,” returning to his social media platform, X, after a three-year hiatus.
PEPE Hits All-Time High
PEPE has skyrocketed, with its price surpassing the $0.000010 mark for the first time since March 15. At the time of reporting, PEPE is trading at $0.00001086, marking a 22% increase in the past 24 hours, according to data from CoinGecko.
The coin’s trading volume has also surged by 290.5% to $2.14 billion, with its market capitalization rising to $4.35 billion, making it the 28th largest cryptocurrency by market value.
According to data from TradingView, PEPE’s recent rally was supported by a rebound off the ascending trendline, which has been in place since mid-April. The price surge has pushed PEPE above a critical resistance level, ranging from $0.00000875 to $0.000010.
The Relative Strength Index (RSI) shows an upward trajectory alongside the price while the RSI is at 70, indicating significant buyer dominance.
However, a dip below the ascending trendline at $0.00000875 could lead to a retracement towards the demand zone around $0.0000070 and $0.000080, supported by the 20-day and 50-day exponential moving averages.
Meme Coin Rally
PEPE’s performance coincides with the return of Keith Gill, whose “Roaring Kitty” account on X had been dormant since June 2021. On May 13, his account resurfaced with a post featuring an image of a man leaning forward with a controller.
Users on X and Reddit interpreted it as Gill signaling a period of focus, colloquially termed as “locking in.” “Hey bro what we buying,” one user replied; “Just in time for the meme coin supercycle,” another added.
Gill was a central figure in the 2021 meme stock frenzy, which saw assets like GameStop and AMC Entertainment skyrocket by 1,000% by the year’s end.
The return of Roaring Kitty caused a meme coin rally, with Solana-based GameStop memecoin (GME) surging over 350% and AMC token witnessing an over 900% increase. Established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced modest gains, with them rallying by 7% and 7.5%, respectively, according to CoinGecko data.
Stocks associated with Gill and other meme-related companies also rallied, with GameStop’s pre-market trading experiencing a 44% climb, briefly surging by 110% post-market open before trading was paused. AMC Entertainment Holdings also experienced a 12% increase in pre-market trading and surged 25% after the Wall Street opening bell on Monday.
The post PEPE Hits All-Time High After Famous Gamestop Trader ‘Roaring Kitty’ Returns appeared first on CryptoPotato.
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