Pepe, a prominent memecoin, has hit an all-time high boosted by a general uptrend in the memecoin market spurred by the return of renowned GameStop stock trader Keith Gill, also known as “Roaring Kitty.” Gill’s comeback to his Roaring Kitty X account following a three-year absence triggered excitement in the cryptocurrency sphere, particularly for Pepe.<\/p>\n
Pepe’s value soared above $0.000010 for the first time since March 15, reaching a new peak of $0.00001119 on the Binance exchange, representing a significant 34% surge within a day. The trading volume for Pepe also surged by an impressive 245% to $1.56 billion, boosting its market capitalization to $4.31 billion, exceeding that of Ethereum Classic and securing its spot as the 23rd largest cryptocurrency by market value.<\/p>\n
Gill’s reemergence on the social media platform X came with a mysterious post featuring an image hinting at a period of intense focus, interpreted by users as a signal of potential market activity. Gill’s pivotal role in the 2021 meme stock craze, particularly with GameStop and AMC Entertainment, added to the anticipation around his return.<\/p>\n
The rebound in Pepe’s price on May 13 was reinforced by its bounce off an upward trendline, demonstrating solid support since mid-April. Breaking through a crucial resistance level between $0.00000875 and $0.000010 emphasized the bullish momentum, with the relative strength index (RSI) indicating strong buyer control.<\/p>\n
However, a daily candlestick below the upward trendline could prompt a decline towards a demand zone with potential support from the 20-day and 50-day exponential moving averages.<\/p>\n
Gill’s return had a broader impact beyond Pepe, with Solana-based GameStop memecoin surging over 550%, and AMC token witnessing an extraordinary 1,200% leap. Major memecoins like Dogecoin and Shiba Inu also saw gains, reflecting the overall sentiment in the meme cryptocurrency sector.<\/p>\n
In the traditional stock market realm, stocks linked to Gill and other “meme stocks” experienced significant surges, with GameStop shares rising by as much as 44% in pre-market trading and AMC Entertainment Holdings climbing 25% after the market opening, as reported by trading resource The Kobeissi Letter.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pepe, a prominent memecoin, has hit an all-time high boosted by a general uptrend in the memecoin market spurred by the return of renowned GameStop stock trader Keith Gill, also known as “Roaring Kitty.” Gill’s comeback to his Roaring Kitty X account following a three-year absence triggered excitement in the cryptocurrency sphere, particularly for Pepe. […]<\/p>\n","protected":false},"author":12,"featured_media":11606,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Pepe Memecoin Reaches Record High Amid Gamestop Stock Trader's Comeback - Bitrabo","description":"Pepe, a prominent memecoin, has hit an all-time high boosted by a general uptrend in the memecoin market spurred by the return of renowned GameStop stock trader"},"footnotes":""},"categories":[316],"tags":[596,4089,4088,4087],"class_list":["post-11607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-cryptocurrency","tag-gamestop-stock","tag-keith-gill","tag-pepe-memecoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/11607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=11607"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/11607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/11606"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=11607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=11607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=11607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}