Pepe, the popular memecoin, reached a new all-time high on Sunday, marking a strong start to the second week of December. This surge followed a period of consolidation where the coin struggled to surpass mid-November highs.

The memecoin had a generally bullish November, but the latter half showed signs of a downturn, hinting at a potential bearish trend.

Despite the newfound highs, market observers remain cautious due to the recent bearish indicators.