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PEPE bounces 37% from recent lows – Will recovery continue?
Assessing the odds of PEPE’s recovery and key levels to watch.
The past few days have been nothing short of extraordinary for the PEPE market, as it bounced back a staggering 37% from its recent lows. This dramatic turnaround has left many wondering whether this recovery is sustainable or just a fleeting moment of optimism before another downturn.
In order to assess the prospects of PEPE’s continued growth, we must first examine what factors contributed to its sudden surge in value. It appears that PEPE’s market wasn’t overheated at the time of this upswing, as per Funding Rates. Meanwhile, Bitcoin’s [BTC] rebound from $76K lows to nearly $85K sparked slight speculative activity, with key memecoin indices tracked by The Block surging 4% on average on daily charts. In particular, Pepe bounced back 37% from its recent lows of $0.00000525.
With the overall market uncertainty still prevalent, it is imperative to consider whether this recovery will be sustained or simply a blip on the radar.
Source: https://ambcrypto.com/pepe-bounces-37-from-recent-lows-will-recovery-continue/
