• PEPE has gained over 100% up to now month and has been the highest-gaining crypto within the high 100 tokens over the previous week as meme cash led a market rally.
• Over 95% of PEPE homeowners are in revenue, however technical indicators level to the rally being unsustainable, because the RSI and MFI indexes present that the token is overbought.

It’s been a wonderful week for meme cash. Over the previous seven days, tokens like Bonk and WIF gained 39% and 19%, respectively, with BOME and FLOKI following carefully behind at 18% and 16%. Nonetheless, the actual star has been PEPE, the frog-themed meme coin, which has doubled its price up to now month.

PEPE trades at $0.00001603 at press time, gaining 6.9% up to now day, unhindered by the cyclical market downturn over the weekend, regardless of an 18% dip in its buying and selling quantity to $1.93 billion. 

The good points have been sustained over the previous week, the place the meme coin has gained an unbelievable 76.46%, the very best spike within the high 100 cash and far forward of second-placed Lido DAO, which gained 52% in that point.

Over the previous month, PEPE has gained 112%, successfully doubling its price to set a brand new all-time excessive for a $6.69 billion market cap, flipping Litecoin to take the twentieth place on the charts. This additionally cements its place because the third-largest meme coin forward of WIF and solely behind market leaders DOGE and SHIB.

Can PEPE Keep its Features?

Analysts have been investigating whether or not the meme coin can keep its good points. A key metric supporting the meme coin’s rise is the continued help from the whales. One such whale not too long ago withdrew over 500 billion from Binance, price practically $8 million.

In actual fact, over the previous two weeks, the online trade move has been unfavourable for PEPE as extra holders withdraw their tokens, indicating they intend to carry their tokens for lengthy and lowering the promoting stress on the buying and selling platforms.

Moreover, the token’s rise comes at a time when the altcoin season is anticipated to kick in. Altcoins have traditionally loved their greatest runs following the Bitcoin halving, and analysts count on this development to proceed. If the remainder of the market embarks on a rally, PEPE could be extra prone to keep its good points.

Investor curiosity can also be important, and PEPE is having fun with it aplenty. On Binance, solely Bitcoin, BNB, and Ethereum had larger buying and selling volumes over the previous 24 hours. General, it ranks seventh.

These indicators have given some analysts confidence that PEPE can rise to turn out to be the most important meme coin within the house; one analyst says {that a} $30 billion market cap is on the decrease scale.

Nonetheless, technical indicators paint a special image. The meme coin’s relative power index (RSI)  and cash move index (MFI) level to an overbought coin, which often precedes a dump as merchants take income.