Pepe Coin Soars 106%, Outperforms Dogecoin in Meme Coin Rally

• Pepe Coin’s value soared 106% in the last month.
• PEPE briefly outperformed Dogecoin’s trading volume on May 23.
• Analysts predict PEPE could reach $0.00006588 or fall to $0.0000045 by 2024.

The meme cryptocurrency category is leading the charge in bullish market surges, with a notable 34.88% increase in value over the previous 30 days. Specifically, Pepe Coin has experienced a remarkable 106% rise in its market value during the last month. This surge has led to 96% of PEPE holders now having wallets that are in profit, making it the most lucrative coin in its class.

Pepe Coin’s price surge began at the end of April and continued through May. Propelled by this uptrend, the coin made significant strides both within the meme cryptocurrency space and in the broader market.

It has notably surpassed other major meme coins, including Dogwifhat (WIF), to secure the third-largest position in the meme coin rankings. Additionally, on May 23, PEPE’s trading volume briefly exceeded that of the top meme cryptocurrency, Dogecoin .

Pepe Coin’s recent achievements also include overtaking the native tokens of Uniswap and Polygon at the start of this week. Despite these gains, the coin has recently seen a decline in its price.

PEPE’s Price Movement Over the Last Month

In the past 30 days, the meme cryptocurrency has seen a 106% jump. At the start of the month, PEPE was trading between $0.000005989 and $0.000007149. It is now trading in the $0.000013 range. This significant increase has drawn attention from the market and led to heightened investment, pushing the coin into an overbought condition.

PEPE peaked at $0.00001718 on May 27, marking its all-time high. Since then, the frog-themed meme coin has seen minor price reductions. At the time this text was written, Pepe Coin is valued at $0.00001416, with a 5% drop for the day. The market capitalization is approximately $5 billion, while the 24-hour trading volume has seen a 5.67% increase, as reported by CoinMarketCap data.

Despite the recent decline in price, the market value remains higher than the 21-day moving average (MA), suggesting a bullish trend based on data from TradingView. For the upward momentum to persist, PEPE is anticipated to surpass the resistance at $0.000016.

In conclusion, analysts from TheNewsCrypto forecast that the meme cryptocurrency could reach a bullish value of $0.00006588. Conversely, should the bearish market prevail, they expect it could fall to $0.0000045 by the end of 2024.