Pepe Coin Jumps 15% as Memecoins Surge—Analyst Calls PEPE-DOGE a 'Once-in-a-Lifetime' Opportunity
Pepe Coin Surges 15% in Memecoin Rally—Analyst Calls It a ‘Second Chance’ Opportunity
Pepe (PEPE), a frog-themed cryptocurrency, led a surge in memecoins on Wednesday, gaining over 15% in value.
What Happened?
The Ethereum-based token became the top-performing memecoin in the past 24 hours, with its trading volume jumping 8% to $950 million. This made PEPE the second-most traded memecoin in that period.
Several key technical indicators suggest a bullish trend. The MACD (Moving Average Convergence Divergence) flashed a "Buy" signal, while the Momentum indicator also showed strong positive movement.
Investor interest increased as well—open interest in PEPE futures rose 8.6% to $220 million, the highest in over 10 days, according to Coinglass.
Why It Matters?
Crypto analyst Max Schwartzman compared PEPE’s price movement to Dogecoin (DOGE), calling it an "incredibly good" setup.
“This is the key signal for memecoins—how they compare to the ‘Bitcoin of memes’ ($DOGE),” he said.
Schwartzman also noted that a similar signal helped him identify a major buying opportunity for PEPE back in 2023. Now, he believes another chance is emerging for those who missed the last rally.
Current Price
As of now, PEPE is trading at $0.000007206, up 15.41% in the past 24 hours, according to Benzinga Pro. However, despite this recent surge, the coin is still down 64% for the year.
