PEPE memecoin surged to $0.00001725, a new high, before falling slightly to $0.00001673. It has gone up by 76% in the last week and 146% in the last month, making it the best performer among the top 100 cryptos by market cap, currently placed 19th.

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This spike came when the U.S. approved Ethereum ETFs, which boosted assets on the network such as Uniswap (UNI) and several memecoins.

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Significant withdrawals from the OKX and Kraken exchanges show that PEPE has more demand than supply, which has fueled its recent surge. 

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Analysts predict a 40% increase to $0.000024 owing to market psychology, with PEPE benefiting from an overall altcoin market upswing and Bitcoin's solid performance.

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However, with a high Relative Strength Index (RSI) of 77, signaling overbought conditions, some market retracement may occur if traders cash in on gains.

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