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.
This spike came when the U.S. approved Ethereum ETFs, which boosted assets on the network such as Uniswap (UNI) and several memecoins.
Significant withdrawals from the OKX and Kraken exchanges show that PEPE has more demand than supply, which has fueled its recent surge.
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.
However, with a high Relative Strength Index (RSI) of 77, signaling overbought conditions, some market retracement may occur if traders cash in on gains.
