The frog-themed meme coin project, PEPE, has recently reached its all-time high (ATH) price, and it is crushing all of its competitors in the market. PEPE has increased 22.41% in the last day to $0.00001356 as of this writing. With respect to the recent ATH of $0.000014222 it registered a few hours ago, this current perspective represents a small retreat.
One of the main winners from the current bull market cycle is PEPE. Analysing its rise reveals a significant meme coin anomaly that seeks to counter Dogecoin’s (DOGE) and Shiba Inu’s (SHIB) domination. In addition to its 24-hour gain, PEPE has increased by 22.36% during the previous seven days.
With a 107% increase to far, PEPE has surpassed both the market and the typical meme coin over the last month. PEPE is currently trading well above its 50, 100, and 200-day EMA, highlighting its very bullish perspective, in line with this overall trend.
Even while the PEPE price’s sharp increase is encouraging, a reverse may occur soon to highlight the cooling-off period. The PEPE community will need to maintain the 71% increase in trading volume, which is set at $4,381,864,123, in order to mitigate this possibility. This is equivalent to almost 32.9 trillion PEPE being traded on the market in a single night.
Many questioned PEPE’s sustainability when it first gained popularity in early 2023, particularly because it deviated from the dog-related themes that DOGE and SHIB are more well-known for. PEPE is the first major meme currency to retest its all-time high after the crypto winter, demonstrating its ongoing superior performance in spite of the scepticism.
For PEPE, a significant obstacle now in the way is the absence of a dedicated utility pivot. In contrast to BONK’s significance with Solana Mobile and Shiba Inu with Shibarium, PEPE remains extremely speculative despite its recent accomplishments.
