Pepe coin has experienced a strong recovery after reaching a monthly low in December. The third-largest meme coin in the crypto market, Pepe has risen to its highest level since December 18th, jumping approximately 50% from its low. This rebound aligns with the overall recovery of meme coins, as other tokens like Dogecoin, ai16z, Fartcoin, and SPX6900 have also surged. The total market cap of all cryptocurrencies has surpassed $125 billion. However, there are concerns about a decline in smart money participation in Pepe, as the number of smart money holders and tokens held by them has dropped. This decline may be due to meme coin investors diversifying into other tokens and the proliferation of newer meme coin projects. Despite these concerns, technical indicators suggest that Pepe will continue to rise, with a target of reaching its all-time high and potentially even surpassing it.



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