Meme Wars: Pepe Coin Price Gains 15%, Beating Out Doge & SHIB Performance

The price of the Pepe (PEPE) meme coin has leaped ahead of top dog rivals like Dogecoin and Shiba Inu over the last day, notching double-digit percentage gains. PEPE has risen over 15% in the past 24 hours, hitting nine-month highs.

TLDR

• Pepe coin (PEPE) price has surged over 15% in the last day, outpacing gains of other major meme coins like DOGE and SHIB
• PEPE faces resistance around $0.00000159 level but could see 20% upside if it breaks above, with target of reclaiming $0.00000189 high
• On-chain metrics like active addresses, network profit/loss, and whale transactions all point to growing interest and positive sentiment around PEPE
• Bonk (BONK) and Pepe prices are predicted to rise further as part of an ongoing crypto market surge lifting Solana and meme coins
• PEPE hit 2022 highs of $0.00000188 and traders are eyeing a rally back towards its all-time high at 10x current prices if bullish momentum continues

Meanwhile technical and on-chain indicators suggest the altcoin meme token could have much further to run if bullish momentum persists.

Pepe’s impressive single-day performance beat out gains from the other top meme coins over the same period. Dog-themed projects Dogecoin (DOGE) and Shiba Inu (SHIB) were both up but only managed single digit rises of 2% and 7% respectively. Even Bonk (BONK), which operates on the fast-growing Solana blockchain, could only muster an 8% daily gain.

The outlier pump for PEPE brings its price up to around $0.00000159, pushing the token against resistance in play since last July. Analysts eye a break and close above that barricade opening the door for PEPE to surge 20% towards its 2022 high around $0.00000189. And multiple metrics tracking growing on-chain activity and investor interest indicate traders still have an appetite for the altcoin.

Active wallet addresses interacting with the Pepe network spiked 85% in just four days last week. The number of large “whale” transactions above $100k and $1 million worth of coins also trended upwards over the same stretch. Meanwhile PEPE holders realized $1.7 million in gains as of February 26, a stark reversal of the $243,000 in losses tallied only two days prior.

The broader renewed risk appetite in cryptocurrency markets appears to be lifting meme coins across the board for now. Ethereum whales have accumulated almost $100 million worth of Shiba Inu tokens so far in 2024, signaling the trend may have further to run.

With PEPE outpacing the field already this week, analysts say the meme coin could make a run at its all-time high market cap around $1.8 billion. That would require a parabolic 10x price appreciation from today’s levels. For traders sensing a mounting PEPE frenzy, gains may hop much further than other frog coins can jump.