Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?

On October 23, frog-themed meme coin PEPE rose by double digits to a monthly high, trading near $0.000005076 with a market capitalization above $2.13 billion, making it the 50th-largest cryptocurrency and again the fourth-biggest meme coin after MemeCore briefly took that position on October 22. Analyst Token Talk said bulls need to push market cap above $2.21 billion, while Sjuul | AltCryptoGems cited support/resistance and Crypto With Gopal pointed to an inverted head-and-shoulders pattern with a $0.0000050-$0.0000053 neckline. Caution signs included PEPE's Relative Strength Index, a 0-100 technical tool where above 70 is overbought, reaching 94, and exchange netflow showing inflows to centralized platforms, a shift from self-custody that increases immediate selling pressure.