- Pepe (PEPE) enters the top 20 list with an 825% yearly gain, showing potential to surpass Litecoin, Polygon, and Shiba Inu.
- Despite market corrections, PEPE maintains a strong performance, with predictions of further growth and significant investor confidence
Pepe (PEPE), the frog-themed token, has skyrocketed into the top 20 cryptocurrencies, showcasing an impressive 825% gain over the past year. This remarkable achievement underscores PEPE’s robust fundamentals and increases investor confidence, even amidst a modest global market correction in the last 24 hours.
PEPE’s Meteoric Rise
Launched in April 2023, coin swiftly ascended to a $1 billion market cap within weeks, becoming a mainstay in the meme coin arena. Currently, PEPE boasts a valuation of $5.8 billion, cementing its status as the most significant meme coin launch of 2023. It has outperformed other meme coins like Bonk (BONK) and Dogwifhat (WIF), which, despite their rapid growth, couldn’t match PEPE’s ascent.
Entering the Top 20
As the coin outperformed nearly eight tokens since Monday, market experts predict it will soon surpass major cryptocurrencies like Litecoin and Polygon in market cap. A report by Crypto Basic also suggests that PEPE might soon overtake Shiba Inu (SHIB), highlighting industry estimates.
Is SHIB’s Reign at Risk?
To match Shiba Inu’s market cap, the coin price would need to rise to $0.00003582, a significant 221.8% increase from its current value of $0.00001382. Despite a 2.40% dip from the previous day’s price, PEPE has surged by 35% over the past seven days. In contrast, SHIB is trading at $0.0000241 with a 24-hour trading volume of $933,188,157 and a market cap of $14.212 billion, reflecting its stronger market presence.
Resistance Levels and Future Predictions
On the daily chart, PEPE/USD is stabilizing around the 78.6% Fibonacci retracement level. The price is expected to fluctuate between the support level of $0.000010867 and the resistance at its all-time high of $0.000016900. Should buying pressure increase and PEPE/USD break above this all-time high, it could pave the way for new peaks. Conversely, failure to break this resistance might result in a pullback to the next support level at the 50% Fibonacci retracement around $0.000010867.
Further support levels to monitor include the 38.2% Fibonacci level at approximately $0.000008000 and the 23.6% Fibonacci level at around $0.000004000.
