PEPE Prices Soar on Bitcoin Rally, Analysts Warn of Potential Reversal

The meme coin PEPE has seen a significant surge in price and trading volume over the past day, with a gain of 5.57% on September 20th.

This increase comes as Bitcoin holds above $81K following a Fed rate hike and risk appetite increases globally, causing the Fear & Greed Index to rise from 56 to 71 in mere days.

The surge in PEPE's price has also been accompanied by a substantial increase in trading volume on Coinbase, with a 66% explosion to $541M.

However, analysts are cautioning that the current momentum may be decelerating rather than accelerating, as the RSI at 62.78 is not yet overbought and the Bollinger Band %B at 0.9864 suggests price is near upper-band resistance.