Benzinga - Pepe Coin (CRYPTO: PEPE) has stolen the limelight in the world of meme coins, showcasing impressive performance compared to its counterparts, including Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
What Happened: Over the past 24 hours and even in the seven-day charts, PEPE has outperformed gains clocked by other popular meme coins.
In the last 24 hours alone, PEPE experienced a 4% increase in value, while DOGE and SHIB witnessed marginal gains of 0.01% and 0.23% respectively. Looking at the seven-day chart, PEPE soared by 17%, while other top meme coins suffered losses.
Despite PEPE’s remarkable performance, the exact reason behind its sudden surge remains unclear. The price action can be attributed to different factors, including a short squeeze, a temporary rebound from a significant drop, or potentially more positive underlying factors.
Additionally, PEPE market volume surged by a staggering 103% within the last 24 hours, reaching $86 million on Thursday. The majority of PEPE trading activity took place on Binance and Kucoin, as reported by CoinMarketCap.
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Why It Matters: Earlier this week, pseudonymous analyst Kaleo, shed light on PEPE. Kaleo identifies a breakout pattern on the lower time frame (LTF) associated with this digital asset. “Looks like it’s ready to run it back to the highs.”
$PEPE breaking out on LTFLooks like it's ready to run it back to the highs
RT if you're bullish! pic.twitter.com/fnclgzHb99
— K A L E O (@CryptoKaleo) September 26, 2023
Currently, with PEPE trading at $0.0000007346, an investment of just $0.75 can yield approximately 1 million PEPE tokens, based on the present market prices.
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