Pepe Climbs 14% as Competitor Smashes New All-Time High – What’s Next for Pepe?
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Meme coin watchers are wondering if Pepe ($PEPE) is on the verge of a major breakout. Sitting comfortably as the third largest meme coin with a market cap of over $3.4 billion, Pepe’s gains overnight and over the week have made it a better performing asset than the two leading meme coins.
At its current price of $0.058187, Pepe has risen 3.4% in the last 24 hours and 14.3% in the last seven days.
By contrast, sector leader Dogecoin ($DOGE), which has more than quadruple the market cap at around $15.7 billion, only added 2% overnight and about 7% over the week. It currently changes hands at $0.1073.
The number two meme coin, Shiba Inu ($SHIB), posted similar gains to $DOGE. $SHIB advanced 1.2% on the day and nearly 11% on the week to trade at $0.00001449.
Both leading canine meme coins moved roughly in line with Bitcoin ($BTC), which grew 1% overnight and 9.4% over the week to $63,347.
Pepe may have defeated the two largest doge-themed coins, but this week its rally was upstaged by DogWifHat ($WIF), which grew 17.5% since last Monday, and Ethereum’s $NEIRO, which mooned 228% over the week.
However, Pepe has plenty of room left to rally.
Although it has faced stiffening resistance since the start of summer, as indicated by the falling red line.
Its relative strength index (RSI) of 57 indicates consistent buying could end up crystallizing the token’s current price as a new support level as it aims to retake $0.00001 by mid-week.
The original Pepe is a great blue chip meme coin for many, but a new variation called Pepe Unchained (PEPU) entered presale this summer and has already raised an eye-watering $14.7 million on the simple
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