Pepe, the trending memecoin, is on the cusp of a significant breakout towards a target of $0.0000078, according to recent market analyses.

Over the last week, Pepe has seen a commendable increase of 3.94%. This comes after a robust recovery from a local low of $0.0000052, bouncing back impressively to reach $0.0000075.

Currently trading at $0.0000073, Pepe has successfully surpassed its crucial 200-day Simple Moving Average, signaling bullish momentum not only on weekly but also on daily and monthly trends.

What is a Golden Cross?

A golden cross occurs when a short-term moving average crosses above a long-term moving average—a strong bullish signal in technical analysis.

In Pepe's case, recent charts show the 9-day moving average at $0.0000072, while the 21-day sits at $0.0000069. This positive trend is bolstered by the emergence of a golden cross on the 4-hour timeframe.

Market Sentiment: Bullish Outlook