Leading cryptocurrencies have struggled for momentum over the past week, but frog-themed meme token Pepe (CRYPTO: PEPE) has emerged as a notable outperformer.
PEPE Outclasses Biggies
PEPE has jumped 13% over the past week, bucking the declines in market heavyweights such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).
The token, inspired by the “Pepe the Frog” internet meme, spiked to its highest level in nearly a month, while market capitalization neared $2 billion.
| Cryptocurrency | 7-Day Performance | Price (Recorded at 4:00 a.m. EDT) |
|---|---|---|
| Pepe | +17.42% | $0.000004823 |
| Bitcoin | -0.56% | $81,727 |
| Ethereum | -2.04% | $2,406.17 |
| Dogecoin | -2.65% | $0.08001 |
No clear coin-specific catalyst was visible, with broader rotation into memecoins and improving altcoin sentiment appearing to support PEPE’s move. CoinMarketCap’s Altcoin Season Index, which tracks the performance of leading altcoins relative to Bitcoin, remained below the 75 threshold for an official altcoin season.
Interestingly, Coinbase CEO Brian Armstrong shared a motivational message on X, featuring “Pepe the Frog” as a warrior holding a large sword over his shoulder. The post did not explicitly reference the PEPE token
See Also: Bitcoin Flat As Fed Policy Meet Looms; Ethereum, Dogecoin, XRP Decline: Analyst Flags Support Where They Plan To ‘Load Heavily’ On ETH
Technicals Flash Mixed Signals
The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a “Buy” signal for PEPE, according to TradingView.
On the other hand, The Bull Bear Power indicator, which measures the strength of buyers and sellers, was “Neutral,” and so was the Relative Strength Index. Stochastic RSI, a technical indicator measuring Relative Strength Index strength, suggested a “Sell.”
Photo courtesy: Shutterstock
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