Bitcoin climbing back above $70,000 has clearly lifted sentiment across the crypto market. With confidence returning, traders are once again rotating into higher-risk plays, and memecoins are among the biggest beneficiaries. The sector has jumped more than 12% in just 24 hours, with trading volume nearly doubling and total market capitalization rising from around $29 billion to close to $35 billion.
Notably, PEPE appears to be stuck in a distribution phase, with the Accumulation/Distribution line trending lower and printing a bearish divergence. This indicates that selling pressure is still dominant despite intermittent rebounds. As long as the price fails to reclaim the local and pivotal resistance levels around $0.00000514 and $0.00000545, bearish risks remain active. A decisive breakout above this zone is required to shift sentiment and open the path toward higher targets near the $0.000008 region.
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