According to U.Today, the frog-themed meme coin project, PEPE, has outperformed all other rivals on the market by surpassing its all-time-high (ATH) price. Currently, PEPE has experienced a 22.41% surge in the past 24 hours to $0.00001356, a slight decrease from its recent ATH of $0.00001422.
PEPE has greatly benefited from the current bull market cycle, positioning itself as a major meme coin outlier aiming to challenge the dominance of Dogecoin (DOGE) and Shiba Inu (SHIB). In addition to its 24-hour growth, PEPE has seen a 22.36% increase in the past week. Over the past month, PEPE has outperformed the market and the average meme coin with a 107% surge. As a result, PEPE is now trading well above its 50, 100, and 200-day EMA, indicating its extremely bullish positioning.
Despite the massive rally in PEPE's price, there might be a reversal moving on to underscore a cool-off period. To mitigate this possibility, the PEPE community will need to maintain the 71% surge in trading volume, which stands at $4,381,864,123. This equates to approximately 32.9 trillion PEPE exchanged on the market overnight.
When PEPE gained popularity in early 2023, many had doubts about its longevity, especially as it deviated from the dog themes that DOGE and SHIB are known for. Despite the skepticism, PEPE has continued to outperform, becoming the first of the major meme coins to retest its ATH post-crypto winter. However, PEPE faces a significant challenge due to its lack of a specific utility pivot. Unlike Shiba Inu with Shibarium, and BONK’s relevance with Solana Mobile, PEPE remains highly speculative despite its recent successes.
