Pepe Coin Reaches Record High: Could It Surpass Dogecoin and Shiba Inu?

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Pepe Coin has soared to a new all-time high, reaching $0.000014 on May 21, marking a significant milestone as it begins to close the gap with memecoin leaders Dogecoin and Shiba Inu. Over the past three months, Pepe has consistently outperformed these established players, with its market cap now exceeding $5.5 billion. This surge is part of a broader trend where crypto investors are increasingly gravitating towards mid-range memecoins like Pepe, which offer more dynamic growth potential compared to their mega-cap counterparts.

Since the beginning of 2024, Pepe has seen an impressive 990% increase in value, significantly outpacing Dogecoin and Shiba Inu. Just this May, Pepe's price has jumped by 141.16%, while Dogecoin and Shiba Inu have seen comparatively modest gains. This shift in investor sentiment could position Pepe for further short-term gains, especially if the market remains bullish.

Looking ahead, Pepe is eyeing a target price of $0.000020, supported by favorable technical indicators like the Bollinger Bands, which suggest a strong bullish momentum despite recent pullbacks. If the U.S. SEC approves the Ethereum ETFs, Pepe could see another surge in interest, potentially pushing its price even higher. However, should the market face a downturn, Pepe could find support at around $0.000010.