Pepe Coin Surges 200% in May, Outshines Dog-Themed Rivals

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The ongoing meme coin frenzy, led by frog-themed Pepe (PEPE), has pushed the industry to nearly $69 billion in market cap and over $10 billion in daily average traded volume. The desire to trade more volatile digital assets has lured more crypto investors to the meme coin industry. Moreover, the high liquidity and demand have rewarded more early investors in the meme coin industry during the past few months.

Pepe Outshines Dog-themed Meme Coins

Pepe is the only project not inspired by dogs in the top five most valuable meme coins. Interestingly, Pepe has outshined most of the top meme coins in the past few weeks after rallying to the price discovery phase. 

After an impressive 200 percent rally since the beginning of May, Pepe’s weekly Relative Strength Index (RSI) has stabilized above the 70 level, indicating the bulls are in control.

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

Why Bet on PEPE Price?

Pepe’s price is being corrected after registering palpable gains in the past two weeks. The mid-cap meme coin, with a fully diluted valuation of about $6.3 billion and a daily average traded volume of about $1.4 billion, takes pride in more than 234k users.

As a result, the Pepe community has attracted the attention of major cryptocurrency exchanges led by Binance and Coinbase. 

Robinhood Crypto EU has unveiled a half a million Pepe airdrop in the latest adoption.