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More →Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?
The frog-themed meme coin has defied the latest market correction, pumping double digits today (October 23) and reaching a monthly high. Some analysts believe the price could rise further in the short term, but key factors suggest the move hasn’t been healthy and might be followed by a pullback. PEPE is one of the top-performing cryptocurrencies today and currently trades near $0.000005076. Its market capitalization has surged past $2.13 billion, making it the 50th-largest cryptocurrency and, once again, the fourth-biggest meme coin. Recall that yesterday (October 22), MemeCore (M) briefly took that position after <a href="https://cryptopotato.com/memecore-m-flips-pepe-pepe-after-pumping-25-in-a-day-details/" rel="nofollow" target="_blank">posting</a> a significant price increase. <a href="https://x.com/TokenTalk3x/status/2112826521102721179" rel="nofollow" target="_blank">According</a> to Token Talk, PEPE’s bulls have “one job right now”: push the token’s market cap above $2.21 billion. “The daily structure has improved massively from the summer lows, but resistance is resistance until proven otherwise,” the analyst added. X user Sjuul | AltCryptoGems also <a href="https://x.com/AltCryptoGems/status/2113248262987870219" rel="nofollow" target="_blank">issued</a> a bullish thesis, saying he still likes the PEPE chart, which is showing signs of “relative strength.” He believes buyers must now hold that flipped support/resistance level to trigger an additional potential pump. For his part, Crypto With Gopal <a href="https://x.com/cryptowithgopal/status/2113563112704192922" rel="nofollow" target="_blank">claimed</a> that PEPE has flashed an inverted head-and-shoulders reversal, with price pushing toward the $0.0000050-$0.0000053 neckline zone. He said a confirmed breakout could trigger a powerful recovery move and argued that bullish momentum has been building. Despite the impressive uptick, PEPE remains a meme coin, making it especially vulnerable to speculation and volatility, so a short-term correction wouldn’t be a surprise. The token’s Relative Strength Index (RSI) supports that scenario. The technical analysis tool runs from 0 to 100, where anything above 70 means that PEPE has entered overbought territory and could be headed for a pullback. Conversely, readings below 30 are typically seen as buying opportunities. Recently, the ratio exploded to 94. PEPE’s exchange netflow is also worth monitoring. Inflows have dominated outflows lately, suggesting investors have shifted from self-custody to centralized platforms, increasing immediate selling pressure. The post <a href="https://cryptopotato.com/pepe-pepe-rises-11-daily-further-pump-or-correction-on-the-way/" rel="nofollow" target="_blank">Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow" target="_blank">CryptoPotato</a>.
The 4-hour trading volume ratio of SOL contracts to spot is 10.13.
CoinWorld data: Over the most recent 4 full hours, SOLUSDT perpetual contract trading volume was 10.13 times its spot trading volume. Compared with the same-metric snapshot 24 hours earlier, it rose by 4.1025; compared with the same-metric snapshot 7 days earlier, it rose by 1.78.
The 4-hour trading volume ratio of ETH contracts to spot is 13.28.
Bijie data: Over the most recent 4 complete hours, ETHUSDT perpetual contract trading volume was 13.28 times the spot trading volume. Compared with the same-caliber snapshot 24 hours earlier, it rose by 3.4221; compared with the same-caliber snapshot 7 days earlier, it fell by 0.2203.
Fidelity: Bitcoin could rise to $200,000 sooner
According to Cointelegraph, Fidelity's Zack Wainwright said that it took Bitcoin (BTC) nearly 16 years to reach $100,000, but the move to $200,000 could happen faster. He noted that Bitcoin has risen nearly 50% since its June low of about $58,000.
The 4-hour trading volume ratio of BTC contracts to spot is 13.82.
According to Bijie.com data: over the most recent 4 full hours, BTCUSDT perpetual contract trading volume was 13.82 times the spot trading volume. Compared with the same-caliber snapshot 24 hours earlier, it rose by 4.3509; compared with the same-caliber snapshot 7 days earlier, it rose by 8.0837.
Coinbase announces the resumption of futures trading
Coinbase Markets announced that the planned maintenance period has ended, and all futures and perpetual futures trading is now re-enabled.
A drone strike hit an Iranian Kurdish opposition camp in northern Iraq.
CoinWorld news, [A camp of an Iranian Kurdish opposition group in northern Iraq was attacked by a drone] Cailian Press, October 25 — On the evening of the 24th local time, a security department source in the Kurdistan Region of northern Iraq said that a drone attacked a camp of an Iranian Kurdish opposition organization northeast of Erbil, the capital of the Kurdistan Region, that evening. (CCTV News).
Market news: UK Chancellor Healey will announce billions of pounds in additional defense spending, and the defense spending plan will be included in the budget.
CoinWorld news, market news: UK Chancellor of the Exchequer Healey will announce an additional several billion pounds in defense spending, and the defense spending plan will be included in the budget. Healey's move will increase the proportion of defense spending in GDP.
Houthi armed forces: Do not use Riyadh King Khalid International Airport.
Cointime news, Houthi armed forces: Once again warning all global, regional, and local airlines, staff, and passengers not to use Riyadh King Khalid International Airport, because the airport has become a target of our military strikes and is no longer safe. The Saudi authorities must bear all consequences caused by continuing to operate the airport, because we will continue to launch attacks on it, and the airport will always remain in an unsafe state.
Obama: Iran holds veto power over passage through the Strait of Hormuz.
According to CoinWorld news, former U.S. President Obama said: "Iran now effectively holds veto power over passage through the Strait of Hormuz, and global markets' oil shipments must pass through this strait. This is why oil prices have risen, and no one disputes this. This is also why diesel prices have risen. This is also why the prices of almost all goods have risen."