Pepe token shoots up double digits, surpassing Doge and Shiba Inu to reach nine-month highs. If bulls keep the upper hand, analysts predict a ten-fold return to the token’s peak valuation.
Over the past day, the price of the Pepe (PEPE) joke coin has soared above its fiercest competitors, Dogecoin and Shiba Inu, recording double-digit percentage gains. In the last 24 hours, PEPE has increased by more than 15%, reaching nine-month highs.
The price of TLDR Pepe currency (PEPE) has increased by more than 15% in the past day, surpassing the gains of other significant meme coins like DOGE and SHIB.
PEPE is up against resistance at the $0.00000159 level, but if it breaks above, it might rise by 20% and reach the $0.00000189 high once more.
Active addresses, network profit/loss, and whale transactions are examples of on-chain measures that show that interest in and sentiment around PEPE are expanding.
Prices for Bonk (BONK) and Pepe are expected to increase further as part of the ongoing upswing in the cryptocurrency market. Coins with memes and Solana
PEPE reached highs of $0.00000188 in 2022, and if positive momentum persists, traders are anticipating a surge back towards the stock’s all-time high of 10 times the present price.
Technical and on-chain indications, however, point to a significant upside potential for the cryptocurrency meme token should positive momentum continue.
Pepe’s outstanding one-day performance overshadowed the increases made during the same time period by the other leading meme coins. While they both saw increases, the dog-themed projects Dogecoin (DOGE) and Shiba Inu (SHIB) only had single-digit increases of 2% and 7%, respectively. Even Bonk (BONK), which runs on the rapidly expanding Solana blockchain, was only able to record a daily gain of 8%.
PEPE’s price surges to over $0.00000159 after an outlier pump, breaking through support that has been in place since last July. Analysts are looking for a break and closing over that barrier, which would allow PEPE to rise 20% to its high point of $0.00000189 in 2022. Additionally, a number of indicators showing increasing on-chain activity and investor interest show that traders are still interested in altcoins.
In just four days last week, the number of active wallet addresses communicating with the Pepe network increased by 85%. During the same time period, there was an increase in the quantity of significant “whale” transactions exceeding $100,000 and $1 million in coin value. As of February 26, PEPE holders had realized $1.7 million in gains, which was a dramatic turnaround from the $243,000 in losses recorded in just two days.
For the time being, it seems like the larger, restored risk appetite in cryptocurrency markets is helping all meme coins. Shiba Inu coins have already been acquired by Ethereum whales to the tune of about $100 million in 2024, suggesting that the trend may continue.
Analysts predict PEPE, a joke coin that has already surpassed the field this week, will challenge its all-time record market valuation of over $1.8 billion. That would mean a price increase from current levels of a parabolic 10x. Gains might increase far more than other frog coins can if traders sense an intensifying PEPE mania.