Why Did Pepe Leapfrog 10% Higher Today?
With a still-ugly one-year chart (down nearly 50% over this time frame), meme coin Pepe (CRYPTO: PEPE) is making back some lost ground today. Shares of the popular meme cryptocurrency have surged 10.8% over the past 24 hours (as of 3:45 p.m. ET), suggesting that risk-on sentiment could be coming back-at least in the short-term.
Of course, the question many retail investors are asking is how long this momentum can continue. After all, the momentum has been one-sided for most of the past few months, with sustained selling pressure weighing on the mood of many bulls who continue to hold on for dear life.
Let's dive into the key drivers of this double-digit daily return in Pepe, and what to make of the explosive upside we're seeing right now in more speculative areas of the digital assets market.
Source Fool.com
