As We Enter "Uptober," Pepe Price Outperforms Dogecoin, Shiba Inu, and Bonk
With a spectacular 17.9% increase in the previous 24 hours, the market value of meme coins reached $55.6 billion, putting Pepe ($PEPE) ahead of Dogecoin ($DOGE) today.
Pepe had a 26% weekly gain and a 15% overnight gain, reaching $0.00001049 as of this writing. As for Dogecoin, it reached $0.1237 after a 7.8% gain during the day and a 15.4% gain over the week.
Shiba Inu ($SHIB) is one of the blue chip meme currencies that can compete with Pepe right now. Overnight, Shiba Inu surged 14%; this week, it outperformed Pepe, gaining 35% and trading at $0.00001949.
Floki ($FLOKI) and Bonk ($BONK) were neck and neck in the race. After a 12.5% increase overnight and a 23% gain for the week, both currencies' market capitalization are just over $1.5 billion.
With a market valuation of $2.3 billion, DogWifHat ($WIF) is the fourth biggest coin by market cap. Its 7% rise overnight was mild, but its 29% gain over the week to $2.37 was substantial.
Analysis of the Pepe PriceâPEPE Achieves Market Leadership
Despite Pepe's current stellar performance, there are a number of signs that it's about to cool down.
First, according to a Pepe price forecast made three days ago, the white arrow indicates that it has almost tripled in value over the last two days due to its surge.
This indicates that Pepe is about to retest the $0.000012 level of resistance it encountered in late July.
Despite the asset being overbought at the present, Pepe is likely to maintain its current level even if the selling trend evolves into a broader sell-off. This is due to the fact that the relative strength index (RSI) is declining from 77 after such a rapid surge.
