Pepe Coin Outperforms Dog-Themed Rivals, Surging 200% in May

The meme coin craze, led by the frog-themed Pepe (PEPE), has propelled the industry to a market cap of nearly $69 billion and a daily average traded volume of over $10 billion. The allure of trading highly volatile digital assets has attracted more cryptocurrency investors to the meme coin sector. Furthermore, the industry’s high liquidity and demand have rewarded early meme coin investors in recent months.

Pepe Shines Brighter Than Dog-Themed Meme Coins

Pepe is the only project among the top five most valuable meme coins that isn’t inspired by dogs. Interestingly, Pepe has outperformed most of the leading meme coins in the past few weeks, surging into the price discovery phase.

Since the beginning of May, Pepe has experienced an impressive 200 percent rally, and its weekly Relative Strength Index (RSI) has stabilized above the 70 level, indicating that the bulls are in control.

According to Crypto Rover, a renowned crypto analyst on the X platform, Pepe’s price on higher time frames has closely mirrored Dogecoin’s (DOGE) price action in 2021.

Why Invest in PEPE?

After witnessing significant gains in the past two weeks, Pepe’s price is currently undergoing a correction. This mid-cap meme coin, with a fully diluted valuation of approximately $6.3 billion and a daily average traded volume of around $1.4 billion, boasts a user base of over 234,000.

Consequently, the Pepe community has caught the attention of major cryptocurrency exchanges, including Binance and Coinbase.

Robinhood Crypto EU, in its latest adoption move, has announced a half a million Pepe airdrop.

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