PEPE, the frog-themed memecoin, surged 3.7% in the past 24 hours, reaching $0.00000967 as easing geopolitical tensions sparked cautious optimism in crypto markets.
The rally follows recent developments in global trade and diplomacy: U.S. President Donald Trump stated no plans to extend the July 9 deadline for reciprocal tariffs, U.S. and Indian officials signaled progress toward a new trade deal, and tensions between Iran and Israel have lessened. These shifts have encouraged investors to refocus on economic fundamentals.
Technical analysis from CoinDesk Research shows PEPE forming higher lows at $0.00000920, $0.00000927, and $0.00000948, indicating steady upward momentum. The token faced resistance near $0.00000963, a level briefly surpassed during increased trading volume, suggesting strong buyer interest.
Additionally, PEPE has formed a golden cross, with its 50-day moving average crossing above the 200-day average. This pattern is typically viewed as a bullish signal, though it is considered a lagging indicator.
Disclaimer: Portions of this article were produced with AI assistance and reviewed for accuracy in accordance with CoinDesk’s AI Policy.