Pepe (PEPE) defied the latest market correction and rose 11% on October 23, reaching a monthly high of about $0.000005076. Its market capitalization surpassed $2.13 billion, ranking the meme coin 50th among cryptocurrencies and fourth among meme coins. Analysts pointed to an improved technical structure, a potential breakout of the $0.0000050 to $0.0000053 resistance zone and relative strength that could support further gains. However, its Relative Strength Index reached 94, indicating overbought conditions, while net inflows to centralized exchanges significantly exceeded outflows, pointing to increased selling pressure and the risk of a short-term correction.
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