Meme coins Super Trump (STRUMP) and Pepe (PEPE) have staged significant recoveries, rebounding from the June 24 plunge.
Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.
While STRUMP’s recovery is pegged on former President Donald Trump’s political movements, Pepe’s price is hinged on positive market sentiments.
After dropping to $0.01093 on June 24, Super Trump (STRUMP) coin has rebounded to $0.01601 at press time, representing a 46% surge in two days.
Today alone, STRUMP price has gained 26%, signifying the growing bullish momentum for the meme coin.
The Super Trump Coin, just like other Trump-themed tokens, are leveraging former President Donald Trump’s political movement, which has gained quite a following within the crypto space for his support on Bitcoin and other cryptocurrencies.
Besides Super Trump (STRUMP), other Trump-themed coins including MAGA and MAGA VP (MVP) have gained by to-digits today.
MAGA has see a 20.60% surge over the last 24 hours and a 73% surge over the past week while MAGA VP (MVP) has surged by 12.16% over the past 24 hours and by 49.61% over the past week.
The STRUMP/USDT daily chart shows a price recovery with the current candlestick attempting to cross above the 21-day moving average after clearing the 9-day moving average. The RSI is also bullish well above the level of 50.
Source: TradingView
Pepe coin is another meme coin that has fully recovered from its recent pullback. The meme coin has risen from a low of $0.00001044 on June 24 to $0.00001246 at press time, representing a 19% surge in two days.
Pepe’s price has risen by about 7% today alone as its bullish trend gains momentum.
PEPE’s price surge has been attributed to a series of higher highs and higher lows, as highlighted by the founder and CEO of Future Star, Brian Garrett, in a post on X.
The PEPE/USDT daily chart reveals a clear bullish pattern, with the price well above the 9-day and 21-day moving average and the RSI on a bullish trajectory above the level of 50.
PEPE price chart
However, for the bullish trend to be maintained, the cryptocurrency must hold above the support level at $0.00001154.
If the $0.00001154 support level is breached, traders should expect the meme coin’s price to possibly test the support at $0.00001000.
If the token maintains above the support level, the token could easily hit the resistance at $0.00001387.
Adding to the bullish sentiment, a whale moved 333.9 billion PEPE tokens (worth about $3.98 million) from Binance.
The above whale movement comes just a day after another whale moved $18.12M SHIB and PEPE to Binance.
When whales accumulate cryptocurrencies, they mostly do it in anticipation of a bullish move. Secondly, removing such a huge amount of tokens from circulation causes a drop in supply amid increasing demand further propelling the tokens bullish trend.
Ad
Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.