Derived from Benzinga, the frog-themed cryptocurrency Pepe (PEPE/USD) led a memecoin rally on Wednesday, achieving a 15% increase in value. This Ethereum-based token became the top-performing meme coin over the past 24 hours, with its trading volume rising by 8% to $950 million, making it the second-most traded meme coin. Key technical indicators, such as the Moving Average Convergence Divergence and Momentum indicators, signaled a bullish trend for PEPE. Additionally, Open Interest in PEPE futures increased by 8.60% to $220 million, the highest in over ten days. Analyst Max Schwartzman compared PEPE's performance against Dogecoin (DOGE/USD), describing the PEPE-DOGE pair as an 'incredibly good' opportunity, suggesting a potential 'generational entry' for investors. As of the report, PEPE was trading at $0.000007206, marking a 15.41% rise in the last 24 hours, despite a 64% decline year-to-date.
Pepe Memecoin Surges 15%, Analyst Highlights PEPE-DOGE Pair as 'Generational Entry'
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