Pepe (PEPE) Achieves Record-breaking Price Peak, Surpassing Polygon (MATIC) in Market Capitalization

In the midst of the ongoing rotation of cryptocurrency funds, where Bitcoin (BTC) is struggling to surpass $72,000, the meme coin Pepe (PEPE), with its frog-themed design, has emerged as one of the biggest winners. According to experts in the crypto industry, as of Monday during the early London session, Pepe’s price was around $0.0000168, showing an increase of over 11 percent in the past 24 hours.

After experiencing an 81 percent spike last week, Pepe has officially entered the top 20 most valuable digital assets. As a result, Pepe’s value surpasses that of other cryptocurrencies like Polygon (MATIC), Litecoin (LTC), and Fetch.ai (FET), among others. If Pepe continues to gain bullish momentum in the upcoming week, supporters of the Shibarmy, a community associated with the cryptocurrency Shiba Inu (SHIB), should be aware that there could be a possible shift in rankings.

The recent approval of spot Ether ETFs in the United States has led to a surge in bullish optimism for the altcoin industry. This positive sentiment has benefited top web3 projects on the Ethereum network, including Uniswap (UNI), Arbitrum (ARB), and Pepe, which have all experienced a significant increase in daily trading volume.

The ETH/BTC pair has notably rebounded from its recent multi-year lows and is on the verge of testing an all-time high. Additionally, Bitcoin dominance is showing signs of a potential reversal, indicating that a major altcoin season may be on the horizon.

Considering the recent bullish rally of Pepe, the weekly Relative Strength Index (RSI) has remained above the 70 level, indicating a strong trend. From a technical perspective, it is expected that Pepe’s price against the US dollar will easily increase by 20 percent in the near future, reaching $0.000020. This coincides with the 1.618 weekly Fibonacci Extension.

Tags: Altcoins, Price Analysis