Pepe Stuns Market with Record-Breaking 28% Gain
Pepe, a meme token inspired by Pepe the Frog internet character, has staged one of the sharpest moves in the entire market today. According to CoinMarketCap's top 100, PEPE outpaced every other token with a 28% single-day jump, making it the biggest gain on the leaderboard.
The report noted that PEPE's market cap climbed to $2.08 billion as daily volume rose 44% to $784.5 million, extending a 45% gain over the past week. The broader market conditions were supportive, with Bitcoin rising nearly 6% on the day to around $85,700.
On the technical side, PEPE's price has broken above the neckline of its rounded bottom structure, which formed in August after a period of consolidation. With an RSI reading of 78.27, well above its moving average of 56.35, the token is firmly in overbought territory.