PEPE Defies The Laws Of The Crypto Market: An Astonishing Rally Nonetheless

Despite volatility worthy of the wildest roller coasters, Pepe (PEPE) remains firmly anchored in the hearts of its fans. Unlike other altcoins, this memecoin continues to captivate with a compelling narrative. Recently, even a massive sell-off by whales did not hinder its ascent. A look back at a crypto phenomenon that defies predictions and ignites the market.

Pepe: unexpected records despite the pressure

Last week, Pepe defied expectations by reaching a day-time peak of $0.000027, marking a 2,000% increase since the beginning of the year. With a market capitalization exceeding $11.37 billion, PEPE stands out as one of the best-performing altcoins capable of creating euphoria among crypto investors.

However, a wave of sales by the “whales” shook the market: nearly 1.96 trillion PEPE, worth $50.9 million, were liquidated.
But the enthusiasm of altcoin traders has not waned. The reason?

• 263% increase in short-term wallets (80,450 new addresses);
• Inclusion on Coinbase and Robinhood, making purchase more accessible;
• Surge in Open Interest to $370.8 million (+9% in 24h).

For analysts like Chandler Bing, the recent “Cup and Handle pattern” suggests a potential increase of 19% in the short term.

“PEPE could reach $0.000031 quickly“, he says.

$PEPE has formed a cup and handle pattern, signaling a potential breakout. Keep an eye on this one. 🐸📈 #pepe pic.twitter.com/mfZ8xLtO4E

— Chandler Bing (@chandlerbingpl) December 8, 2024

How PEPE redefines the crypto universe

Apart from its impressive figures, Pepe benefits from unprecedented buzz. A mention on Fox News placed it alongside Bitcoin as a promising investment. On Reddit and TikTok, discussions around PEPE are exploding.

The pseudonym Captain Faibik notes that the PEPE crypto has crossed a crucial technical resistance, while indicators like MACD and ADX confirm an upward trend. This dynamic comes as the crypto market as a whole shows signs of diversification, with returns on bolder altcoins.

However, one question persists: can this popularity propel it ahead of Shiba Inu or Dogecoin? As DocXBT put it: “Retail rarely remembers that it was outperformed by Doge and Shib, but PEPE is changing the game.“

$PEPE

> Access to coinbase and robinhood customers

> Retail finally showing up, they rushed to tech but will shortly remember they got outperformed by doge and shib

> Pepe beginning to infiltrate mindshare on reddit and tik-tok

> ETHBTC (probably) bottomed

> Still hasn't… pic.twitter.com/1ovlLSQAx5

— Doc (@docXBT) December 9, 2024

Thus, Pepe continues to set the pace in the crypto market. With volumes that surpass Uniswap and an ability to obliterate Dogecoin, PEPE is not about to concede its place among the titans of the memecoin world.