Pepe, the second-largest Ethereum meme coin, has seen some stabilization in its price this week as sentiment in the crypto industry has improved. Despite geopolitical risks and potential inflation concerns, altcoins like Pepe have bounced back. The upcoming congressional testimony by Federal Reserve Chair Jerome Powell and the release of the US Consumer Price Index data are expected to be key catalysts for altcoin movement. Pepe has shown potential for growth, with high daily volume and rising futures open interest. While the coin remains in a bear market, there is a possibility of a rebound and a retest of the 200-day moving average. However, a move to $1 would be highly unlikely.



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