Arthur Hayes Endorses $PEPE Coin; Price Soars 16%—What Lies Ahead?

The price of Pepe (PEPE) has recently surged in tandem with the broader market rally. This increase comes as investors show renewed interest in meme cryptocurrencies. 

With prominent figures backing the coin, many are eager to see what happens next. Recent developments surrounding Arthur Hayes have significantly influenced the PEPE price. 

$PEPE Coin Gains Momentum

The price of $PEPE has jumped by 26% over the past week. This rise aligns with a notable increase in the cryptocurrency market. 

Arthur Hayes, the co-founder of BitMEX, recently endorsed PEPE. An X post by Lookonchain highlighted his promotion of various meme coins, including $PEPE. 

Following this endorsement, Hayes withdrew 24.39 billion $PEPE, worth around $252.68K, from Binance. The cryptocurrency market exhibits strong bullish momentum. 

Meanwhile, Bitcoin has risen by 1.24% in the last 24 hours to an impressive $66K. Historically, BTC significantly influences the price movement of the general cryptocurrency market.

$PEPE Coin Eyes New Heights

As of writing, $PEPE is trading at $0.00001073. Recently, Pepe Coin surged by 17%, reaching a high of $0.00001045. 

$PEPE now faces critical resistance at $0.000011. If this price level is broken, we can expect a further rally to $0.000012.

Meanwhile, the Relative Strength Index (RSI) is at 73.82, suggesting $PEPE is overbought. Additionally, 93.62% of PEPE holders are profitable, indicating strong market sentiment. 

As $PEPE approaches critical resistance, breaking through could trigger even greater upward momentum.With the ongoing support from whales like Arthur Hayes, the outlook for PEPE appears bright.