đž Can PEPE Overtake SHIB? A Technical Analysis
$PEPE has had an astronomical rise of more than 900% this year but is still down over 50% since March. Currently ranked as the third-largest meme coin, itâs trailing $SHIB whose market cap is 259% larger.
For PEPE to overtake SHIB, it would need to nearly triple in value - an ambitious task, but not impossible in the unpredictable world of memecoins. Earlier this year, we witnessed multiple days with over 20% gains!
However, such overtake is unlikely in coming weeks. Current technical indicators are not bullish:
đ The RSI sits at 44, neither overbought nor oversold.
đ The MACD and Awesome Oscillator (AO) both suggest bearish momentum.
đ Volume has dropped 52% in 30 days, indicating waning enthusiasm.
Despite this, PEPE holds a strong third place in the memecoin world, with $WIF in fourth place at half its market cap.
Could this be the calm before the next memecoin frenzy? đ
