Pepe (PEPE) Surges Past $11 Billion, Overtakes Uniswap and Litecoin in Crypto Market Shake-Up
Pepe (PEPE) memecoin has made significant waves in the crypto market, breaking through multiple milestones and positioning itself as a formidable player among digital assets.
Starting in April 2023, PEPE draws on the venerable “Pepe the Frog” online meme. Reflecting the erratic and often unpredictable character of meme coins, what began as a community-driven effort has developed into a major crypto asset.
Pepe’s Market Performance
PEPE is trading about $0.000026 right now, a stunning 26% increase over last week. Apart from reaching a market capitalization of $10.9 billion, the token has ascended to rank as the 20th biggest cryptocurrency, overtaking well-known names such Uniswap and Litecoin.
What’s Driving the PEPE Rally?
Several important elements help to explain the current price surge:
- Ethereum Ecosystem Inflows: Speculation surrounding potential SEC policy changes under the Trump administration has sparked increased interest in Ethereum-based projects.
- New Investor Influx: Over 13,000 new investors have entered the PEPE market in just three days, signaling growing mainstream attraction.
- Whale Accumulation: Significant whale activity has been observed, with reports of massive token purchases indicating strong institutional interest.
PEPE/USD Technical Analysis and Price Forecast
Technical indicators paint an optimistic picture for PEPE:
- The Keltner Channel suggests bullish momentum, with the token riding its upper band
- The Bull Bear Power (BBP) indicator shows increasing green bars above zero, confirming buyer dominance
- Potential near-term targets include $0.000030, with support levels around $0.00002136
Pepe Price Prediction
The performance of PEPE fits a larger trend of meme coins being rather popular in 2024. Already outperforming competing meme coins like Dogecoin DOGE/USD and Shiba Inu SHIB/USD, the token has gained around 200% year-to–date.
PEPE seems destined for even more expansion with ongoing good momentum, more accessibility via programs like MoonPay, and rising institutional interest. Like any cryptocurrency purchases, though, prospective buyers should use prudence and do extensive study.
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