Opinion: Meme coin craze revives, PEPE coin hits new high, transaction volume surges 290.5%

According to CryptoPotato, Meme coins are gathering, with a new wave of global highs led by PEPE coins reaching $0.00001096. The build-up comes after stock trader Keith Gill, better known as "Roaring Kitty", returned to his social media platform X after a three-year break. The price of PEPE coin has soared, with the price breaking $0.000010 for the first time and currently trading at $0.00001086, a 22% increase in the past 24 hours, according to CoinGecko data. The coin’s trading volume also surged 290.5% to $2.14 billion, and its market capitalization rose to $4.35 billion, making it the 28th largest cryptocurrency by market capitalization. According to TradingView data, PEPE coin’s recent rally has been supported by a rebound from an ascending trendline that has been in place since mid-April. The increase in price took PEPE coin above a key resistance level ranging from $0.00000875 to $0.000010. However, a fall below the uptrend line at $0.00000875 could result in a drop back to the demand zone at $0.0000070 and $0.000080, which are supported by the 20- and 50-day exponential moving averages. PEPE coin’s performance coincides with the return of Keith Gill, whose “Roaring Kitty” account on X has been dormant since June 2021.