Why Pepe coin price is going up?

💡 DMK Insight

Pepe coin’s 30% surge signals a potential shift in meme coin dynamics. Traders should pay attention to the broader sentiment around meme coins, especially as speculative trading often drives these assets. The recent bullish prediction from a well-known trader could attract both retail and institutional interest, leading to increased volatility. If Pepe can hold above recent resistance levels, it might pave the way for further gains. However, caution is warranted; meme coins are notoriously fickle and can reverse just as quickly. Watch for key support levels to gauge potential pullbacks. The flip side is that this surge could be a classic case of FOMO (fear of missing out), which often leads to unsustainable price spikes. If the hype fades, expect a rapid correction. Keep an eye on trading volumes and social media sentiment to assess the sustainability of this rally.