Trump Post Drives 10% PEPE Price Surge

Donald Trump's recent post on Truth Social, featuring a cryptic image with the phrase "Mission from God," has sparked a significant surge in the price of the memecoin PEPE. The post, which included a tiny frog standing upright in the background, ignited social media buzz and drove bullish sentiment for PEPE, leading to a 10% price increase from $0.00001440 to $0.00001490 before dropping slightly to $0.00001430. This fluctuation highlights the volatility of meme coins, particularly when associated with political figures.

The post's impact was immediate, with PEPE's market cap reaching $6.30 billion just an hour after Trump's message. The memecoin's daily trading volume also surged by 55%, hitting $1.69 billion. Social dominance and total open interest spiked, with the latter rising from $650 million to $735 million. The Long/Short Ratio over the last 48 hours advanced to 1.0016 from 0.9623, indicating a bullish bias. The MVRV 30-day above 0 line suggested that 30-day addresses were positive, reflecting rising interest in the meme coin.

Analysts speculate that breaking the $0.000015 mark could trigger the next big rally for PEPE, potentially pushing its price to $0.000020. However, the meme coin has faced external setbacks since mid-May, pausing its momentum. If PEPE fails to clear the current supply zone, which aligns with a high volume profile level, the price might withdraw to $0.000010. Conversely, if it successfully breaks through, the next target could be $0.000020.

Despite the speculation, there has been no direct confirmation linking Trump to the meme coin. The meme magic, however, is clearly in full effect, with social media platforms flooded with bullish theories and price predictions. The recent surge in PEPE's price and market activity underscores the influence of cultural moments and social media buzz on the meme coin market. As the crypto sector continues to evolve, the impact of such events on meme coins remains a topic of keen interest for investors and analysts alike.