Pepe the Frog Coin (PEPE) Outperforms Dogecoin (DOGE) and Shiba Inu (SHIB), Targets $10B Market Cap: What's Next

Pseudonymous crypto trader SomSpencer declared the arrival of the "meme season" in the crypto market, emphasizing the importance of PEPE as a key indicator.

Pepe's (PEPE) meme coin continues to rally, outpacing its rivals Dogecoin (DOGE) and Shiba Inu (SHIB). The rally has sparked optimism among traders, with some predicting a surge to $10 billion and beyond.

Pseudonymous crypto trader SomSpencer highlighted the arrival of "meme season" in the crypto market, emphasizing PEPE's role as a key indicator.

“PEPE broke out & it's the “meme index" for this crypto cycle. Its performance is a good proxy for risk appetite in the market.

PEPE will set new ATHs this quarter (maybe even before the election). And as PEPE approaches a $10B market cap, liquidity will rotate into midcaps & microcaps.

No one is bullish enough. It’s time for an up-only market.”

Another trader anticipates Pepe's outperformance to continue, outpacing Shiba Inu based on their respective market cap to trading volume ratios.

Pepe's impressive rally is evident in IntoTheBlock data, which shows a 231.4% increase in large transaction volume and a 33.5% rise in daily active addresses. Transactions greater than $100,000 increased from 80 to 255 in the past two days.

Pepe's seven-day and 30-day gains stand at 13% and 8%, respectively. It has outperformed its rivals Dogecoin (DOGE), up 3% and 6% over the past 30 days. In the past seven days, DOGE and SHIB are up 1% and 6%.

Pepe’s 24-hour trading volume at $1.7 billion exceeds that of both Dogecoin ($741.5 million) and Shiba Inu ($405 million) combined.