Pepe Price Soars 30% Amid Short Squeeze and Trend Reversal

The price of Pepe (PEPE) has surged nearly 30% in the last 24 hours, outperforming most top cryptocurrencies and hinting at further upside potential.

This rally is largely driven by a short squeeze of over $2 million, forcing traders to buy back positions in the meme coin.

The technical outlook for PEPE indicates an upside bias as bullish momentum strengthens, with the price surpassing a long-term resistance trendline and nearing key Fibonacci extension levels.