Pepe’s recent surge remains strong, defying the broader market downturn, with analysts expressing support for the meme coin. Despite a 0.8% decline in the total crypto market cap, Pepe has risen by 6.2%.
Currently trading at $0.000008422, Pepe has seen a 24% increase this week and a 9% increase this month. With a market cap of $3.5 billion and a 24-hour trading volume of $755 million, up 25% today, it ranks as the third-largest meme coin and the 30th-largest cryptocurrency by market cap, and 14th by trading volume.
Though its price is 21% lower than its March all-time high (ATH), traders remain optimistic about its potential to swiftly recover. Analyst Jameson noted, “PEPE is easily the best-looking altcoin chart right now,” indicating readiness for new highs.
Max Schwartzman, CEO of Because Bitcoin, likened Pepe to Dogecoin, anticipating strong performances from both. He suggests that Pepe is in “price discovery” against Dogecoin, potentially paving the way for exponential growth.
Max emphasized Doge’s strength and Pepe’s potential, indicating a bullish outlook for Pepe relative to Dogecoin. This suggests a bullish trajectory for Pepe, characterized by Max as being on a “moon mission.”
