PEPE market cap is about to flip the polygon (MATIC).

Perhaps the most unexpected comeback in 2024 was PEPE's rise to the top, toppling many "serious" cryptocurrencies. PEPE's most recent achievement is to overthrow Polygon and take 18th place in the cryptocurrency market. However, it remains unclear how the asset will move from here.

PEPE has amassed a market capitalization of $7.02 billion and is just behind Polygon at $7.12 billion. This price increase was followed by a 12.96% increase in PEPE price, stopping at 0.00001676 USD. MATIC retreated 0.69%, for a price of $0.7184.

PEPE has managed to show a very good upward trajectory by breaking many of the resistance levels it faced. Currently, PEPE is trading at 0.00001698 USD, showing strong bullish momentum. As seen from the chart below, the 50-day moving average, currently around $0.00000885, and the 100-day moving average near $0.00000765, are still well below current price levels, suggesting momentum increase is still maintained. The relative strength index stands at 78.76, showing that PEPE is very deep in overbought territory; However, high purchasing power continues to push prices up.

The question now is whether PEPE can maintain this current performance and possibly topple Polygon in market capitalization. The current high trading volume is supporting the upward price trend as well as very positive market sentiment. However, the RSI indicator flashing in the overbought zone hints at some possible correction in the short term. A quick look at key support levels to ensure stability will be around $0.000015 and $0.000014.

PEPE's rise has been impressive, but it remains an extremely risky investment. Meme coins are extremely volatile, risky, and often carry risks that not many people are willing to take. At any given time, the value of assets like PEPE can change rapidly without giving you the opportunity to protect your portfolio from losses.

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