**Memecoins Surge: PEPE Leads the Pack**

PEPE, an Ethereum-based memecoin, has seen a massive 31% rally in the past week, hitting $0.00001076, its highest since August 3. This marks a 68% rise from its September 6 low. Trading volumes skyrocketed to $1.3 billion on September 27, up 35% in 24 hours and 316% over the week. PEPE's market cap has reclaimed $4 million, making it the third-largest memecoin, surpassing Dogecoin in trading volume.

The entire memecoin sector is flashing green, with DOGE and Shiba Inu up 20.7% and 50% respectively. The total memecoin market value has surged to $53.7 billion, a 34.5% increase in a week. Investors are showing renewed interest in risk-on assets, pushing the Crypto Fear & Greed Index into the "greed" zone at 61.

PEPE's breakout from a bearish pattern on September 20 has fueled its upward momentum, flipping key moving averages to support. Analysts predict continued gains, though overbought conditions could lead to short-term corrections.