Pepe (CRYPTO:PEPE), the frog-themed meme coin, has surged to a record high, rising by 21% in the past 24 hours and surpassing its resistance level at $0.0000091.

With a trading volume hitting a two-month high of $2.5 billion, PEPE reflects substantial buying momentum, indicating a broader market trend.

The coin's Parabolic SAR indicator and Elder-Ray Index both suggest a bullish market sentiment, potentially pushing PEPE's price towards $0.000011 if the current uptrend continues.

However, if selling pressure intensifies, a slight retracement to $0.000007 is possible.