u.today
Amid the ongoing price rebound by some meme coins, the race to maintain dominance and attract investors has intensified. Frog-themed meme coin Pepe ($PEPE) is currently leading the price metrics with a more than 5% increase in 24 hours compared to Dogecoin ($DOGE) and Shiba Inu ($SHIB).
$PEPE outpaces $DOGE and $SHIB in price performance
CoinMarketCap data, as of this writing, shows that $PEPE was changing hands at $0.00001375. This represents a 6.71% increase in the last 24 hours. Meanwhile, the general crypto market has only managed a 0.72% increase within the same time frame.
This shows that $PEPE is leading or driving liquidity in the broader market. The frog-themed meme coin also outshines other notable rival projects like $DOGE and $SHIB.
$DOGE is currently trading at $0.3328 and has only registered a 0.62% increase in price. Although it is a significant jump from its previous low of $0.3258, this has not helped its price performance.
$SHIB’s price rose by 3.43% to $0.00001924 within the same time frame. The dog-themed meme coin has struggled to break the $0.0000195 price level. Over the past 96 hours, each attempt to breach the critical resistance has failed.
Comparatively, $PEPE has climbed past its $0.000013 resistance within the same period.
What’s fueling $PEPE’s rally?
$PEPE’s has been attributed to recent activities in the ecosystem within the past few days. Notably, Pepe has made waves in Japan by gaining a listing on Bitflyer, a major exchange in the country. This marks a huge development in Pepe’s global expansion quest.
Analysts believe the news could have created bullish sentiment among market participants and fueled investors’ confidence. This renewed interest might have supported $PEPE’s growth in price metrics compared to other meme coins.
Interestingly, as reported by U.Today, the trio of $PEPE, $DOGE and $SHIB posted a remarkable price rebound a little over 24 hours ago. The development sparked conversations as to whether meme coins were making a comeback.
Market observers are still monitoring their price movement, but Pepe is clearly in the lead.