Pepe Stages a Strong Comeback as Exchange Outflows Surge and Price Hits Monthly High  

• Pepe jumped to $0.0000091, driven by exchange outflows and a broader rally in meme coins, pushing its market cap to $3.8 billion.  
• Exchange outflows for Pepe surged, with $4.2 million withdrawn on Sept. 26, indicating growing investor confidence in the token.  
• Pepe’s futures open interest reached $129 million, its highest level since August, signaling increased market activity and anticipation of further price gains.  

Pepe, the third-largest meme coin, has made a significant comeback, surging to its highest level in over a month. The cryptocurrency jumped to $0.0000091, boosting its market capitalization to over $3.8 billion. This rally coincided with gains in other popular meme coins, including Shiba Inu and Dogwifhat, which also saw their values increase by over 10%. 

Meme Coin Market Gains Momentum

The overall market capitalization of meme coins tracked by CoinGecko increased by 7% within 24 hours, reaching $50 billion. This resurgence was largely attributed to favorable macroeconomic developments, including the Federal Reserve’s recent interest rate cuts. Additionally, China’s announcement of a $142 billion capital injection to stimulate its economy has also contributed to positive sentiment across the crypto market.

Pepe Sees Significant Exchange Outflows

Exchange outflows for Pepe have spiked, signaling growing investor confidence in the asset. Data from Nansen revealed that $4.2 million worth of Pepe was moved out of centralized exchanges on Sept. 26, representing a sixfold increase from the daily average. Over the past week, the total supply of Pepe on exchanges has dropped by 0.35%, indicating that more investors are shifting their holdings into personal wallets for long-term custody.  

Technical Indicators Show Bullish Outlook

Pepe’s technical indicators reflect a bullish trend. On the daily chart, Pepe bounced back after retesting its ascending support line, which has been in place since April. The coin also broke through its 50-day moving average and retested the 50% Fibonacci Retracement level at $0.0000090. Furthermore, it is now trading near a key resistance level at $0.00000987, which represents its highest point since early August. 

Pepe’s open interest in futures trading has also surged, reaching $129 million, its highest level since August 2. A potential break above the current resistance could push Pepe towards its next target at $0.0000108, marking a major milestone for the cryptocurrency as it continues its recovery.