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PEPE, the frog-themed meme coin project is dusting all other rivals on the market as it just surpassed its all-time-high (ATH) price. At the time of writing, PEPE is showcasing a 22.41% surge in the past 24 hours to $0.00001356. This current outlook is a slight backtrack from the recent ATH of $0.00001422 it registered a few hours ago.
PEPE is a major beneficiary of the current bull market cycle. X-Raying its growth underscores a major meme coin outlier that aims to stem the dominance of both Dogecoin (DOGE) and Shiba Inu (SHIB). Besides its 24-hour growth, PEPE has soared by another 22.36% surge in the trailing seven-day period.
Over the past month, PEPE has managed to outperform the the market and the average meme coin with a 107% surge to date. With this general outlook, PEPE is now trading well above its 50, 100 and 200-day EMA, underscoring its extremely bullish positioning.
While the massive rally in the price of PEPE spells a good omen, there might be a reversal moving on to underscore the cool-off period. However, to cushion this possibility, the PEPE community will need to sustain the 71% surge in the trading volume pegged at $4,381,864,123. This equates to roughly 32.9 trillion PEPE exchanged on the market overnight.
When PEPE became popular in early 2023, many had doubts about its longevity, especially as it took a different stance 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.
One major hurdle now lies ahead for PEPE, and this involves its lack of a specific utility pivot. Unlike Shiba Inu with Shibarium, and BONK’s relevance with Solana Mobile, PEPE is still highly speculative despite its recent successes.