As the meme culture continues to gain steam, Pepe (PEPE) has emerged as one of the most recognizable meme coins, as evidenced by its impressive run.
Various bullish signs have popped up, with PEPE recently hitting the 200-day simple moving average (SMA) amid intensified efforts to flip this level from resistance to support.
As a major trend indicator, trading above the 200-day SMA depicts bullish sentiment since it is a notable support zone. Therefore, this indicator is the dividing line between positive and negative conditions.
PEPE is also witnessing intensified buying interest, given that its relative strength index (RSI) has been upward thanks to heightened demand.
The Chaikin Money Flow (CMF) indicator also shows growing buying pressure, as PEPE continues to lead the meme coin charge thanks to factors such as its community dynamics.
Meanwhile, PEPE has been making global strides since it became the first meme coin to penetrate the Japanese market after being listed by leading crypto exchange BitPoint.
Crypto Adoption in Africa Goes Through the Roof
According to a recent Bitget report, Africa has the highest growth rate for crypto-themed Telegram groups.
Per the research, “Africa saw a remarkable 189% increase in crypto-themed Telegram groups, driven by economic needs and a youthful demographic, with over 56.5% of the population under 25.”
The report noted an overlap between cryptocurrencies and Telegram user profiles. As a result, there was a strong correlation between global crypto adoption and growing cryptocurrency-related Telegram activity.