Frog-themed cryptocurrency Pepe PEPE/USD spearheaded Wednesday’s memecoin rally, clocking double-digit features.
What occurred: The Ethereum ETH/USD-based token soared over 15%, turning into the best-performing meme coin within the final 24 hours.
The coin’s buying and selling quantity leaped 8% to $950 million, making it the second-most traded meme coin within the final 24 hours.
A couple of essential technical indicators turned bullish for the coin following the rally.
The Shifting Common Convergence Divergence indicator, which compares two exponential shifting averages of an asset’s worth indicator, flashed a “Purchase” sign for PEPE, in accordance to TradingView. The Momentum indicator additionally painted a bullish narrative.
See Additionally: Home Committee Favors Stablecoin Regulation To ‘Strengthen’ Greenback: Majority Whip Says CBDCs Towards ‘American Values’
The speculative curiosity additionally surged. The Open Curiosity in PEPE futures spiked 8.60% within the final 24 hours to $220 million, the very best it has been in over ten days, in accordance to Coinglass.
Why It Issues: Properly-known analyst Max Schwartzman in contrast PEPE’s worth motion in opposition to Dogecoin DOGE/USD, calling the pair “extremely good.”
“That is THE SIGNAL for memes… how they pair in opposition to the BTC of meme cash ($DOGE),” the analyst added.
“This helped me catch the generational entry on PEPE again in 2023. A second probability is brewing right here for many who missed it final run,” the analyst opined.
Value Motion: On the time of writing, PEPE was exchanging palms at $0.000007206, up 15.41% within the final 24 hours, in keeping with knowledge from Benzinga Professional. Yr-to-date, nevertheless, the memecoin has plunged 64%.
Picture through Shutterstock
Learn Subsequent:
Market Information and Information delivered to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
