PEPE Erases Zero Amid Crypto Market Rebound, What’s Next for Price?

Frog-themed cryptocurrency PEPE rose 6% alongside the larger crypto market in the early Friday session on news that the U.S. Securities and Exchange Commission (SEC) is set to drop charges against the Coinbase crypto exchange.

The broader digital asset market turned green shortly after, with Bitcoin (BTC) approaching $100,000 for the first time since early February.

The Securities and Exchange Commission is claimed to have decided to drop the action against Coinbase, pending approval from the agency’s commissioners. This would be one of the industry’s most significant SEC legal victories.

An SEC decision to drop its allegations that Coinbase was operating an unregistered exchange and listing unregistered securities may have far-reaching consequences for other agency crypto enforcement cases, as well as tokens designated as unregistered securities in the lawsuit.

PEPE recovered from recent lows during the crypto market rebound, erasing a zero from its price tag. PEPE was trading at $0.000010 as of this writing, having previously reached lows of $0.00000951.

What’s next for PEPE?

PEPE price has largely consolidated in a tight range between $0.00000843 and $0.0000107 since Feb. 7. However, the PEPE price has steadily increased since Feb. 19, reaching highs of $0.00001015 in today’s session.

While PEPE’s recent advances seem encouraging, major resistance levels must be breached to maintain positive momentum. In this scenario, the daily SMA 50 at $0.00001392 must be breached for PEPE to gain further bullish momentum. Additionally, market sentiment and broader crypto trends might influence PEPE’s next move.

Traders will be keeping a close eye on PEPE’s potential to sustain its gains and move higher. If the momentum continues, larger gains may be in store. However, a pullback is also possible, so traders must observe key support levels, one of which lies at $0.0000081.

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