Benzinga - by Murtuza Merchant, Benzinga Staff Writer.
Pepe (CRYPTO: PEPE) has emerged as the day's standout performer, jumping an impressive 23%.
What Happened: The frog-themed memecoin is currently trading around $0.000001678 per CoinGecko data.
It is up 54% month-over-month, leaving behind its dog-themed rivals Dogecoin (CRYPTO: DOGE), up 10.8% and Shiba Inu (CRYPTO: SHIB), up 9% in the same timeframe.
This leap comes as Bitcoin (CRYPTO: BTC) flirts with the $54,300 mark, boasting a 5% increase over the last 24 hours, and Ether (CRYPTO: ETH) strides past $3,175, up by 3%.
The crypto community on Twitter is abuzz, offering a mix of forecasts, humor, and excitement over the memecoin's future trajectory.
Also Read: Miss Out On Crypto's Future? What You Need To Know About SIPs
Why It Matters: Crypto Twitter has been particularly vocal, with influencers and enthusiasts alike chiming in on the memecoin's surge.
It's the "Zoomer Oracle" on "Crypto Twitter" who seems to hold the most unwavering belief in Pepe's future, declaring, "I haven't pulled this badboy video since Tia (CRYPTO: TIA) and Zeta (CRYPTO: ZETA). Its time for $PEPE."
This cryptic reference, accompanied by a short video, alludes to previous successful predictions, leaving some users convinced of Pepe's potential.
Further fueling the fire, Crypto Michael, another prominent figure on the platform, revealed, "Call me crazy but I've been loading up on $PEPE."
He cites the potential of retail investor FOMO (Fear Of Missing Out) once Bitcoin surpasses its all-time high, drawing a parallel to Dogecoin's remarkable rally in the previous market cycle.
While some, like Johnny (@CryptoGodJohn), anticipate a price pullback before scaling into their positions, others, like Alchemist (@AlchemistOG69), express more daring strategies, claiming they've "max leveraged a long on $PEPE at 139."
Adding fuel to the speculation, Plazma (@Plazma0x) highlights a significant increase in new $PEPE holders today, alongside the entry of prominent crypto investor David Gokhshtein, who believes Coinbase Inc. (NASDAQ: COIN) listing could be the "most likely outcome" for the memecoin.
What's Next: Interestingly, Pepe trailed its memecoin rivals in a Benzinga poll asking which memecoin was the most popular.
Shiba Inu topped the poll, ahead of the GameStop memecoin, indicating Pepe still is some way off having the same fan base as established brands.
Read Next: Dogecoin's Price Patterns Mirrors 2023 Bull Market That Saw 23,000% Gains, Says Crypto Analyst: 'We Could See DOGE Enter A Parabolic Breakout'
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