Pepe Makes It To Trump’s Feed—Is A Crypto Endorsement Next?
Donald Trump's post on Truth Social on May 29 led to a brief 5% increase in the price of the Pepe meme coin (PEPE), followed by an 18% decline due to profit-taking and market pressure. The post's dramatic language and imagery resonated with supporters, particularly PEPE enthusiasts. Technical analysis indicates PEPE is forming a cup-and-handle pattern, with a potential target of $0.000026 if it breaks above resistance. Current indicators show a near-term downtrend, with the MACD below the signal line and the RSI nearing a critical level. The 0.618 Fibonacci retracement level at $0.00001 may serve as a support point; if breached, traders will look to $0.000008. Broader trade news, including reversed tariff suspensions, has influenced market sentiment, leading to caution among traders regarding riskier assets like meme coins.
